| Telenor Microfinance Bank | |
| Former Name: | Tameer Microfinance Bank |
| Type: | Unlisted public company |
| Location: | Karachi, Pakistan |
| Key People: | Mohammad Mudassar Aqil (President & CEO) |
| Industry: | Fintech |
| Products: | Easypaisa |
Telenor Microfinance Bank (Urdu: ٹیلی نار مائیکرو فنانس بینک), formerly Tameer Microfinance Bank, is a Pakistani microfinance bank which is based in Karachi, Pakistan. It is jointly owned by Telenor Group and Ant Group, an affiliate company of Alibaba Group.
It was founded in 2006 by Nadeem Hussain as Tameer Microfinance Bank, which was later acquired by Telenor Pakistan.[1]
In November 2008, Telenor Pakistan acquired 51 percent shares in Tameer Microfinance Bank for $12.5 million.[2] In March 2016, Telenor Pakistan acquired the remaining 49 percent shares of Tameer MicroFinance Bank for an undisclosed sum.[1] [3]
In March 2018, Ant Group announced to acquire a stake for $184.5 million in Telenor Microfinance Bank through its subsidiary Ant Financial.[4] In November 2018, the Competition Commission of Pakistan approved Alipay's – a subsidiary of Ant Financial – acquisition of 45% shareholding in the microfinance bank for $184.5 million.[5] [6]
In November 2021, the board of MCB bank approved to conduct due diligence to buy 55% shares of Telenor Microfinance Bank.[7] [8] [9]
Easypaisa, Pakistan’s first mobile banking platform launched in 2009, is the only GSMA mobile money certified service in the country. Initially launched as a money transfer service. It is part of Telenor Microfinance Bank and operates as a branchless banking service.[10]