Askari Bank Limited signed a Sub-Clearing Agreement with LOLC Microfinance Bank to strengthen their Financial Ecosystem

LOLC Microfinance Bank (LOLC), a group company of LOLC Holdings, is a growing player in Pakistan’s microfinance sector and is set to broaden its financial horizons and enhance its service offerings through an exciting new partnership with Askari Bank Limited (AKBL). The bank is pleased to announce a significant milestone in its journey: a signing ceremony marking the agreement for Sub-Clearing Membership, a collaboration that will enable LOLC to facilitate their deposit customers efficiently and swiftly.
This strategic move between LOLC Microfinance Bank and Askari Bank Limited signifies a new chapter in the bank’s journey to expand its operational capabilities and provide an even better experience to its customers. Mr. Sher Afgan Khanzada, Group Head, Branch Banking Group of Askari Bank, expressed his enthusiasm for this collaboration, stating, “This agreement marks a remarkable step forward in reinforcing our commitment to foster financial inclusion and extending support to customers in rural and underserved areas, ensuring that access to essential financial services reaches every corner of Pakistan”.
Mr. Farooq Rashid, CEO of LOLC Microfinance Bank, expressed his thoughts and stated, “We are excited about this partnership with Askari Bank and are confident that it will bring greater convenience and efficiency to our customers.”
The strategic alliance between LOLC Microfinance Bank and Askari Bank Limited is a testament to the bank’s commitment to providing innovative financial solutions and expanding its reach across Pakistan.