In a groundbreaking
development, Abhi Private Limited and TPL Corp Limited have received
approval from the State Bank of Pakistan to jointly purchase FINCA
Microfinance Bank Limited.
The strategic alliance between Abhi and TPL Corp aims to reshape
financial inclusion efforts across Pakistan by combining FINCA’s
extensive microfinance network and expertise with Abhi’s innovative
digital solutions and TPL Corp’s presence in retail, insurance and
technology sectors. By bringing together these complementary
strengths, the partnership is set to diversify and expand access to
financial products and services that cater to underserved communities,
including rural populations, small businesses, and lower-income
individuals.
Over the last decade, FINCA Pakistan has empowered millions of
Pakistani families through lending, savings, and financial education.
FINCA Pakistan has consistently been recognized for customer
experience excellence and has brought several innovations to the
microfinance market, including the country’s first mobile
network-agnostic digital wallet. With a presence in more than 100
cities throughout the country, the bank has made significant
advancements in supporting women entrepreneurs.
The new entity will offer a broad range of innovative financial
products. These solutions will provide individuals and small
businesses with the financial tools they need to thrive, furthering
Pakistan’s journey toward greater economic empowerment and inclusion.
“At Abhi, we’ve always believed in creating accessible financial
solutions for everyone,” said Omair Ansari CEO & Co-founder of Abhi.
“By joining forces with TPL, we’re making a stride towards expanding
our reach and delivering impactful financial products to millions of
Pakistanis who have previously lacked access to essential services.”
The acquisition aligns with TPL Corp’s vision of driving innovation in
financial services. With TPL’s diverse business portfolio and FINCA
Pakistan’s established presence and deep knowledge of the market, the
combined entity is well-positioned to introduce customer-focused
solutions that can make a tangible difference in underserved regions.
FINCA Microfinance Bank customers will experience a seamless
transition, with enhanced access to a more comprehensive suite of
financial services in the near future. The acquisition will allow
customers to benefit from Abhi’s digital-first platform, aimed at
making banking services more accessible.
“FINCA Pakistan delivered on its promise to develop a nationwide
microfinance network that is creating economic opportunity throughout
Pakistan, especially for women,” said Jeff Smith, Chair of the FINCA
Pakistan Board of Directors. “Abhi and TPL share FINCA’s commitment to
expanding access to financial services for small entrepreneurs. The
infusion of new capital and more comprehensive digital services have
the potential to significantly accelerate financial inclusion in
Pakistan.”
Looking ahead, Abhi, TPL, and FINCA plan to focus on delivering a new
range of financial products tailored to underserved communities,
driving financial inclusion and contributing to the nation’s economic
growth. Further updates on new offerings and services will be shared
in the coming months.
