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SC Media Centre - Pak-Oman Microfinance Bank

Pak Oman Microfinance Bank impacts lives of rural poor in Gwadar

Karachi: December 14, 2007 - The Pak Oman Microfinance Bank, one of the most reputable microfinance bank in Pakistan, today organized a credit disbursement event for the poor in the district of Gwadar.

Mr.Ozair A. Hanafi, President & CEO of the bank handed over approved loan cheques to deserving male and female customers at its Gwadar branch; thus extending support in its overall objective of reaching out to the needy and alleviating poverty in the remote areas of the country.

"With the involvement of the sultanate of Oman and the government of Pakistan, the bank is not only fulfilling its role of contributing significantly in reducing poverty but is also focusing on a triple bottom line strategy - achieving outreach, aiming for financial viability and most importantly impacting the lives of the bank's customers," said Hanafi.

Talking to the new customers and other village folks in Gwadar on this occasion, Hanafi also said that the bank works in rural & urban areas as a trusted partner by fostering trust, confidence and building long lasting relationships with them. He offered to introduce new products to suit the needs of the borrowers in months to come.


Generational Poverty and Micro-Savings - the key to sustainability in microfinance sector

Karachi: November 30, 2007 - The key to sustainability in the microfinance sector in Pakistan was to address and alleviate the issue of 'generational poverty' which has affected poor people in rural areas for decades. Micro-savings, the ability to encourage and empower women in rural families to save for future consumption was the other focal area.

This was stressed by Mr. Ozair A. Hanafi, President & CEO of Pak Oman Microfinance Bank Limited, one of the five microfinance banks that participated in 2-day conference held in Karachi recently. Several prominent speakers, both from the SME and Microfinance sectors presented their papers at the moot which attracted a large number of delegates from across the country.

Mr. Hanafi said, "Poverty in Pakistan was directly linked to reaching out to the poor and needy both in rural and urban areas of the country and addressing some of the fundamental issues affecting families and their aspirations for a better life was crucial in alleviating poverty in the country. The key factor in this predicament was the understanding of 'generational poverty' within families and how micro-savings could provide controls to women with the benefit of savings flowing down to their children."
Earlier, the First Intl SME & Microfinance Conference 2007 was inaugurated by Mr. Shahid Rashid, Chief Executive Officer of Small & Medium Enterprises Development Authority (SMEDA) and addressed by a score of well-known practitioners and personalities from both the sectors. The sessions were chaired by a host of senior management executives representing both the sectors.

The conference was closed by Barrister Shahida Jamil, the newly inducted Federal Minister for Women Development, Social Welfare and Special Education.


Pak-Oman Microfinance Bank moving on the fast track

Karachi: August 17, 2007 - The Pak Oman Microfinance Bank Limited, one of the fastest growing institutions in the micro-finance sector, organized a well-attended Skills Enhancement Training session for its Northern Pakistan field force at the Akhter Hameed Khan National Center for Rural Development in Islamabad, recently.

Field officers from the bank's northern region availed the opportunity of acquiring specialized skills enhancement training which included sessions on 'building relationships with customers' and 'the power of positive attitude'. All the participants took part in the interactive sessions and contributed to the success of the seminar which is part of a series of skills enhancement training programs being conducted by the bank.

The day-long seminar was also dedicated as a tribute to the vision of the late Dr. Akhter Hameed Khan, whose assertion of self-reliance and sustainability is the cornerstone of successful initiatives.

Commenting on the success of the training program, Mr. Ozair A. Hanafi, President & CEO of Pak Oman Microfinance Bank said, "Developing the skills set of our employees, particularly those who are in the field, is necessary for an institution like ours whose focus is on, both the rural and urban sector poor and underprivileged segment of the society; and therefore, it is pertinent to have people who know how to deal with customers with a positive frame of mind for the benefit of both, the borrowers and the bank."

He added, "The bank is moving swiftly in the right direction with a focus on rural and urban sectors, we have initiated micro savings in our deposit mobilization campaign and are providing micro insurance to all our borrowers. Additionally, our mobile banking unit is reaching out to the rural poor, giving opportunities for the marginalized to change their lives."

After 15 months of operations by the end of August, the bank would have achieved its target of opening 30 branches throughout Pakistan with a continued focus in rural areas.