KARACHI: Abhi (Pvt) Ltd and TPL Corp Ltd received formal approval on Tuesday from the State Bank of Pakistan (SBP) to acquire FINCA Microfinance Bank Ltd jointly.

The strategic alliance between Abhi and TPL Corp aims to reshape financial inclusion efforts across Pakistan by combining FINCA`s extensive microfinance network and expertise with Abhi`s innovative digital solutions and TPL Corp`s presence in retail, insurance and technology sectors.

Over the last decade, FINCA Pakistan has empowered millions of Pakistani families through lending, savings, and financial education.

FINCA has consistently been recognised for customer experience excellence and has brought several innovations to the microfinance market, including the country`s first mobile network-agnostic digital wallet.

With a presence in more than 100 cities nationwide, the bank has significantly advanced in supporting women entrepreneurs.-Staff Reporter