Islamabad – September 20, 2022: Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has collaborated with Careem, a pioneer in the Middle East region’s ride-hailing economy, to provide its Captains health insurance services over digital channels at market competitive rates for enhanced well-being.
MMBL’s Chief Finance & Digital Officer, Sardar Mohammad Abubakr, and Country Head Careem Pakistan, Feroz Jaleel signed the MoU on behalf of their respective organizations to formally implement the initiative that intends to bring more value in terms of financial independence and wellbeing to the diligent workforce that drives the successful ride-hailing service across Pakistan. Careem Captains will open their MMBL accounts digitally to access the insurance services while being assisted through the process by both the Careem & MMBL Support team.
Sharing his thoughts on the development, Chief Finance & Digital Officer MMBL, Sardar Mohammad Abubakar said: “Innovation and digitalization is the twin fuel that drives our growth at MMBL, and expanding our services to Careem Captains will help enable the achievement of our collective goal to promote digital and financial inclusion at all tiers. Through this partnership, we aim to provide health & financial security to the Captains, who ensure secure & comfortable rides for the masses every day.”
Also speaking at the event, Country Head Careem Pakistan, Feroz Jaleel said: “Captains are at the heart of what we do and a priority area for us. This collaboration with MMBL will undoubtedly bring value to our deserving Captains in availing hassle-free digital financial solutions and e-health insurance. Careem has always been at the forefront of coming up with initiatives designed at improving the quality of life for Captains. This is the beginning of a bigger solution space for our Captains as we will continue to explore other ways to improve financing.”
Under this partnership, MMBL and Careem are solely focused on providing easy, accessible, and affordable digital financial solutions to the captains. Building on the current collaboration, the signing partners agreed on exploring more opportunities including digital lending to financially enable Careem Captains.
MMBL is a leading digital microfinance bank and the torchbearer of fostering digital and financial inclusion in the country, particularly amongst the unbanked segments of society. The bank offers a wide range of digital financial products and services through its broad-based financial ecosystem, with a network of over 100 branches, that caters to the varying needs of different individual and enterprise customers.
About Mobilink Microfinance Bank
Mobilink Microfinance Bank Ltd. is Pakistan’s largest digital bank with over 40 million registered users including 16+ million monthly active mobile users. With a hybrid model that combines traditional microfinance with mobile/digital banking technologies, the bank now operates with over 100 branches and 200,000 branchless banking agents and provides a USSD (GSM) based digital channel offering savings, micro enterprise (MSME) loans, small housing loans, remittances, collection (utility bills and loan installments), mobile wallets, insurance, G2P, B2B & B2P payments; thus, playing a leading role in the promotion of financial inclusion.
For more information visit: www.mobilinkbank.com
Careem is the internet platform for the greater Middle East region. A pioneer of the region’s ride-hailing economy, Careem is expanding services across its platform to become the region’s everyday Super App. Careem’s mission is to simplify and improve the lives of people and build an awesome organization that inspires. Providing employment opportunities to more than 800,000 Captains, Careem has invested up to $100 million in Pakistan since its inception.