Telenor and Tameer Bank introduced the opportunity to earn interest on savings by using the mobile phone in Pakistan

1-5-2013 — / — Today people in Pakistan can transfer money easily from one city to another via Easypaisa. Now, Telenor and Tameer Bank have also introduced the opportunity to earn interest on savings by using the mobile phone. This represents a major step forward for the rural population of Pakistan which previously used cash and relied on more traditional ways of saving.

Easypaisa is Telenor’s joint venture with Tameer Microfinance Bank formed in 2009. The company has now launched Khushaal Munafa, the first savings product on a branchless banking platform offering monetary returns to its Easypaisa Mobile Account customers.

“We are proud to be the first mobile money service to introduce a savings product in Pakistan. Khushaal Munafa will focus on micro savings, promote savings and reduce vulnerability of low income families. Easypaisa’s key objective is financial inclusion, and savings are an integral part of getting people to start using formal financial services,” said Telenor Group CEO, Jon Fredrik Baksaas.

Have financial service needs, but lack access

Financial exclusion characterises emerging economies due to lack of credit history, limited access to formal banking channels and bank branches and limited trust in existing financial products. Being a cash economy, more than 80% of Pakistan’s population do not have bank accounts.

Across the country, people have a need for financial services in order to manage short-term volatility of cash flows, send and receive money transfers and build savings for major occasions like weddings and schooling of children.

Khushaal Munafa offers Easypaisa Mobile Account customers a profit of up to 9% on saving Rs. 2,000 or more in their mobile accounts. The savings product is available to both existing and new mobile account customers. After subscribing to a particular Khushaal Munafa plan, the minimum balance according to the selected plan will be locked in the system and customers will only be able to perform transactions on the account balance in excess of the minimum balance requirements. Profit will be calculated and paid out on the total balance in the mobile account.

“Khushaal Munafa will help create a financial ecosystem for the bottom of the pyramid and empower them with the basic rights to avail services that provide an affordable and convenient method of integration into the world of financial services,” said Nadeem Hussain, CEO and President, Tameer Micro Finance Bank limited.

Khushaal Munafa follows previous launches of remittance, payments and insurance products. A study conducted by Boston Consulting Group commissioned Telenor Group indicates that mobile financial services may increase financial inclusion in Pakistan by 20%, and lead to an increase in GDP of up to 3 percent by 2020.

Media Contact:

Tor Odland, Vice President, Telenor Group Communications, tel.: +47 990 90 872, email:

About Easypaisa

Committed to providing financial inclusion to the people of Pakistan, Easypaisa shops are present at over 22,000 outlets in more than 750 cities and towns in the country. Nearly 4 million unique users use Easypaisa services every month for basic financial services like utility bill payments, money transfer and mobile accounts. Around 117 million transactions worth over Rs. 261 billion have been carried out through Easypaisa since launch. For further details, kindly visit

About Tameer Microfinance Bank Limited

Tameer Microfinance Bank Limited (TMFB) is the first scheduled and largest micro finance bank in Pakistan and incorporated in 2005 to provide micro-finance and related financial services to the less privileged and the unbanked segment of the society, with an aim to contribute towards poverty eradication under the Microfinance Institution ordinance, 2001. The bank currently has outreach of over 115 Tameer customer touch points.

The range of financial services offered by TMFB includes deposits, loans, mobile accounts, health insurance, alternative energy solutions, remittances, and cash management services, delivery through Bank on Wheels, Agricultural and Dairy Financing.

Telenor commissioned studies:



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