U Microfinance Bank Enters into Strategic Partnership with TPL Corp Limited
Karachi: Thursday, June 30th, 2022
President & CEO U Microfinance Bank Limited (U Bank) Mr. Kabeer Naqvi and Mr. Ali Jameel, CEO, TPL Corp Limited, signed Memorandum of Understanding (MOU) of a strategic partnership to promote synergic partnership between the two organizations.
This strategic partnership will create a platform for strengthening the capability of organizations to provide a comprehensive range of tailor-made solutions for the U Bank’s customer base.
Speaking at the occasion, Mr. Kabeer Naqvi, President & CEO, U Bank said: “We are pleased to partner with TPL to facilitate U Bank to expand the outreach and combine our strengths to create innovative products for our last mile customers. This alliance will contribute towards digitalization and customer care, offering an eco-system of products and solutions to U Bank clients. This coalition aims to explore new avenues of business to generate more benefits and accelerate business growth. He further added, this partnership will go a long way in providing innovative solutions to the consumer segments that seek quality financial security for themselves and their close ones”
The synergy will pave the way towards promoting financial inclusion in the country.
Mr. Ali Jameel, CEO, TPL Corp Limited, commented: “This partnership demonstrates our commitment to constantly innovate and provide seamless access to insurance products in Pakistan. We at TPL strive to lead in InsurTech and cater to Pakistan’s Life, Health, and General insurance needs by offering cutting-edge Insurance solutions.”
The ceremony was held at TPL Corp Head Office and was witnessed by the senior management of both institutions including Mr. Saad Nissar, CEO, TPL Life, Mr. Muhammad Aminuddin, CEO, TPL Insurance, Mr. Ali Zaidi, Chief Operating Officer, TPL Insurance, Mr. Kazim Hasan, Deputy Managing Director, TPL Life, Mr. Humayoon Asghar, Chief Strategy & Retail Officer, TPL Life, Ms. Mariam Pervaiz, Chief Commercial Officer & Chief of Staff, U Bank, Mr. Farooq Kamran, Chief Corporate & Investment Banking, U Bank, and Mr. Mohsin Aslam, Head Budgeting Planning & Corporate Finance, U Bank.
About U Bank:
U Microfinance Bank Ltd. (U Bank) is a wholly owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) – Etisalat. The bank has a network of more than 200 branches, across 205 cities and rural areas in Pakistan and offers a wide range of microfinance loans, deposit products and branchless banking solutions. U Bank’s branchless banking offers services under the banner of UPaisa in collaboration with Ufone (Pak Telecom Mobile Limited). The service is offered at nearly 45,000 agent locations across Pakistan.
About TPL Corp:
TPL Corp is a technology-driven conglomerate with investments across Life & General Insurance, Real Estate, Security, Asset Tracking, Navigation & Mapping, and several technology startups.
About TPL Life Insurance:
TPL Life is Pakistan’s 1st InsurTech that strives to provide innovative insurance solutions that contribute to enhancing the quality of life and economic well-being of people and society. It offers cutting-edge Life and Health insurance solutions by making insurance accessible and affordable to each customer segment.
About TPL Insurance:
Launched in 2005 as Pakistan’s first Direct Insurance company, TPL Insurance (TPLI) is a pioneer in offering seamless insurance services to its customers in Pakistan through its state-of-the-art InsurTech infrastructure and 24/7 Contact Center