Karachi, Pakistan – LOLC Microfinance Bank (LOLC MFB) has introduced Pakistan’s first 0% markup Gold Loan, marking a milestone in financial accessibility for individuals and businesses across the country. This groundbreaking loan product seeks to bring more people into the financial fold, especially those traditionally hesitant to work with microfinance institutions.
“Our focus with the Gold Loan was to offer something beyond conventional microfinance,” shared Mr. Ransilu Cooray, Product Head for Gold at LOLC MFB. “With a 0% markup and no pre-termination fees, we’re tailoring solutions for Pakistan’s underserved communities, empowering them to meet urgent financial needs while driving sustainable growth.”
LOLC MFB, a subsidiary of global financial leader LOLC Holdings, operates in 25 countries across three continents. With 87 branches and service centers nationwide, the bank aims to make a significant impact on financial access across Pakistan.
At the product launch, Chief Commercial Officer Mr. Nizar Noor Ali Momnani emphasized the bank's mission of reliable and accessible financial solutions: “LOLC MFB strives to be a reliable partner during crucial times, delivering innovative products like our 0% markup Gold Loan. This initiative aligns with our broader mission to support economic progress and uplift communities through inclusive financial practices.”
Echoing these values, CEO Mr. Farooq Rashid highlighted the broader economic implications, adding, “For Pakistan’s economy to thrive, accessible credit must reach individuals and small businesses. With the 0% markup Gold Loan, we’re driving that vision forward, empowering communities and fostering financial inclusion.”
LOLC MFB remains committed to expanding financial inclusion and promoting sustainable development throughout Pakistan. Individuals and businesses are encouraged to explore this 0% markup Gold Loan—an innovative solution aimed at economic empowerment and a more prosperous future for all.