U Microfinance Bank (U Bank) and the Pakistan Telecommunication Employees Trust (PTET) have forged a strategic alliance to extend financial services to retired pensioners on favorable terms.
In a recent ceremony held in Islamabad, Mr. Mohamed Essa Al Taheri, President & CEO of U Bank, and Syed Mazhar Hussain, Managing Director of PTET, formally sealed the collaboration. The agreement aims to provide tailored conventional and Islamic banking solutions to over 37,000 retired pensioners under PTET’s management. This initiative is geared towards enhancing the economic well-being of retired individuals and fostering financial inclusion.
Expressing enthusiasm for the partnership, Mr. Mohamed Essa Al Taheri emphasized U Bank’s commitment to creating a more inclusive financial ecosystem. He highlighted the significance of reaching out to retired individuals and providing them with accessible financial services.
Similarly, Syed Mazhar Hussain of PTET lauded the collaboration, noting its role in easing the financial burden on pensioners. He commended U Bank for extending financial support to aging members of the community, a gesture that goes beyond conventional banking practices.
This collaboration not only underscores PTCL Group’s dedication to serving marginalized sections of society but also underscores U Bank’s contribution to the growth of the microfinance sector in Pakistan.