Karachi: The Pakistan State Bank (SBP) said Thursday that it had issued a license in microfinance banking at the national level to Halan Microfinance Bank Limited, the last effort of the Central Bank to increase financial inclusion and promote digital payments in the country.
Mnt-Halan, the best fintech in Egypt, acquired the microfinance bank Advans Pakistan last year and then renamed it under the name of Halan Microfinance Bank.
“THE [SBP] A granted a license in microfinance banking at the national level to Halan Microfinance Bank Limited with effect of June 3, 2025, “he said in a statement.” MFB has recently been acquired by Mnt-Halan, which has a global presence, offering commercial loans and consumers, he added.
The SBP aims to improve the level of financial inclusion in the country at 75% and to reduce the gap between the sexes to 25% by 2028. The national financial inclusion strategy for 2024-2028 reports that financial inclusion, measured by the percentage of the adult population with a bank account, increased from 16% in 2015 to 64% in 2023. laptops and growing digital adoption, as well as regulatory support for Innovation Fintech.
The national license will allow Halan Microfinance Bank to extend beyond the Sindh to the rest of the country, the bank said in a press release. “The national license allows the bank to launch and manage financial services, in particular the bank without branch, cards, mobile banking services, transactions based on retailers and portfolio services. These services will complement the suite of current products from the bank, which includes microfinance, salary advances, pensions, current accounts and savings accounts, “he said.
The bank targets financially un served by providing unsecured and low funding with a minimum of documentation, rapid processing and competitive monthly payments. The bank offers funding specifically for women, agricultural workers and commercial vehicles. This inclusive model allows micro-entrants, small traders and low-income segments to reach financial independence, often without guarantee.
