U Microfinance Bank Limited (U Bank) and MCB Bank Limited (MCB), have inked a memorandum of understanding for a partnership aimed at improving financial inclusion in the country.

This cooperation between the companies will create a long-term, stable and mutually beneficial strategic partnership. This strategic partnership creates a platform to enhance U Bank’s ability to offer a full range of banking services and expand various forms of cooperation, including medium and long-term debt financing, home financing, microfinance and many other financing options.

On this occasion, Mr. Kabir Naqvi, President and CEO of U Bank, said: “We are delighted to enter into this partnership with MCB, with whom U Bank has worked on a number of successful syndicates over the past few years. This partnership will help advance U-Bank’s financial inclusion program and serve the nation’s underprivileged communities. In addition, it will allow us to create effective synergies with both companies to develop and deliver innovative financial solutions. “

Shoaib Mumtaz, President and CEO of MCB, said: “We value our relationship with U Bank and look forward to expanding our engagement with them to improve financial inclusion. Facilitating home loans for low-income segments is a top priority for both the government and the banking industry, and we look forward to working with industry leaders to bring quality services and financial solutions to the masses.”

The signing ceremony was held at MCB Head office in lahore and was attended by senior officials of both Banks

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