Telenor Microfinance Bank, (ٹیلی نار مائیکرو فنانس بینک) formerly Tameer Microfinance Bank, is a Pakistani microfinance bank which is based in Karachi, Pakistan. It was founded in 2006 by Nadeem Hussain as Tameer Microfinance Bank, which was later acquired by Telenor Pakistan.[1]
Telenor Microfinance Bank is jointly owned by Telenor Group and Ant Group, an affiliate company of Alibaba Group. With a distribution network of over 150 thousand agents and touch-points, Telenor Microfinance Bank is one of the largest microfinance banks of Pakistan.[2] Mohammad Mudassar Aqil is the current President & CEO of the bank.[3]
In November 2008, Telenor Pakistan acquired 51 percent shares in Tameer Microfinance Bank for $12.5 million.[4] In March 2016, Telenor Pakistan acquired the remaining 49 percent shares of Tameer MicroFinance Bank for an undisclosed sum.[1][5]
In March 2018, a memorandum of understanding was signed between the Telenor Group and the Ant Group for a strategic partnership agreement, according to which the Ant Financial was to invest $184.5 million in the microfinance bank.[6] In November 2018, the Competition Commission of Pakistan approved Alipay's – a subsidiary of Ant Financial – acquisition of 45% shareholding in the microfinance bank for $184.5 million.[7][8]
In November 2021, the board of MCB bank approved to conduct due diligence to buy 55% shares of Telenor Microfinance Bank.[9][10][11]
Easypaisa, Pakistan’s first mobile banking platform launched in 2009, is the only GSMA mobile money certified service in the country. Initially launched as a money transfer service.
Easypaisa is part of Telenor Microfinance Bank and operates as a branchless banking service.[13]
