Islamabad, Jan 21: In a landmark move, Pakistan Telecommunication Company Ltd. (PTCL) Group has strategically invested PKR 4 billion (approximately USD 15 million) into its subsidiary, U Microfinance Bank (U Bank).
This capital infusion will drive U Bank’s Islamic banking expansion and lead digital innovation.
This development highlights PTCL Group’s strong belief in U Bank’s robust growth potential and its forward-looking vision.
However, 2025 marks a transformative era for U Bank, aptly termed its “Year of Transformation.” The bank is set to reshape its operations, emphasizing the transition towards fully compliant Islamic banking to meet the increasing demand for riba-free, Shari’ah-compliant financial products in Pakistan.
This shift not only aligns with the ethical banking demands but also widens the bank’s appeal to a broader audience seeking ethical financial solutions.
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Moreover, U Bank is on a mission to redefine the digital landscape of microfinance banking in Pakistan. By enhancing its digital infrastructure, U Bank aims to position itself at the forefront of the digital banking revolution, offering innovative, user-centric financial solutions.
This strategic focus will improve service delivery and operational efficiency, benefiting customers in underserved rural areas and SMEs.
Although, The bank aims to form partnerships with organizations that share its vision of financial inclusion. These collaborations will extend U Bank’s reach and boost its impact on Pakistan’s rural and marginalized communities.
Mr. Mohamed Essa Al Taheri, President & CEO of U Bank, shared his excitement about the new developments, stating, “This substantial capital investment from PTCL Group reinforces their confidence in our strategic direction and our capabilities to significantly influence the microfinance sector in Pakistan.
However, 2025 will be a pivotal year for us as we embrace this transformation and harness the power of technology to make a meaningful difference in the financial landscape.”
Echoing this sentiment, Mr. Hatem Bamatraf, President and Group CEO of PTCL & Ufone 4G, remarked, “Our commitment at PTCL Group extends beyond mere financial investment.
By empowering U Bank to expand its Islamic Banking offerings and elevate its digital prowess, we are contributing to the socioeconomic upliftment of the country’s underserved populations, ensuring a future of inclusive financial growth.”
Through years of consistent support, PTCL Group’s total capital contribution to U Bank has exceeded PKR 13 billion (around USD 46 million), establishing U Bank as one of the most well-capitalized microfinance banks in Pakistan.
