Telenor Microfinance Bank (Urdu ：ٹیلی نار مائیکرو فنانس بینک）， Formerly Known As Tameer Microfinance Bank, Is A Pakistani Microfinance Bank Headquartered In Karachi, Pakistan. It Is Jointly Owned By Telenor Group And Ant Group, An Affiliate Of Alibaba Group.
History
It Was Founded In 2006 By Nadeem Hussain As Tameer Microfinance Bank And Later Acquired By Telenor Pakistan.
In November 2008, Telenor Pakistan Acquired A 51% Stake In Tameer Microfinance Bank For $12.50 Million. In March 2016, Telenor Pakistan Acquired The Remaining 49% Stake In Tameer Microfinance Bank For An Undisclosed Amount.
In March 2018, Ant Group Announced The Acquisition Of Shares In Telenor Microfinance Bank For $184.50 Million Through Its Subsidiary Ant Financial. In November 2018, The Competition Commission Of Pakistan Approved Alipay (a Subsidiary Of Ant Financial) To Acquire A 45% Stake In The Microfinance Bank For $184.50 Million.
In November 2021, The Board Of Directors Of MCB Bank Approved Due Diligence To Purchase A 55% Stake In Telenor Microfinance Bank.
PRODUCTS
Easypaisa, Pakistan's First Mobile Banking Platform, Was Launched In 2009 And Is The Only GSMA-certified Mobile Payments 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
