Ant Financial Services to invest 184 Million Dollars in Telenor Microfinance Bank

MG News | March 13, 2018 at 05:00 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

Islamabad, 13 March 2018: Prime Minister Shahid Khaqan Abbasi today witnessed signing of an MoU between Telenor Group and Ant Financial Services Group for strategic partnership agreement in Pakistan. Minister for IT & telecom Ms. Anusha Rehman, Chinese Ambassador to Pakistan Mr. Yao Jing, Norwegian Ambassador to Pakistan Mr. Tore Nedrebo and senior management of Telenor and Ant Financial were present on the occasion.

According to the MoU, Ant Financial Services Group will invest USD 184.5 m in Telenor Microfinance Bank (“TMB”), a subsidiary of Telenor Group, to further develop TMB’s mobile payment and digital financial services.

Prime Minister Shahid Khaqan Abbasi appreciated the partnership between Telenor Group and Ant Financials, and said that it is a manifestation of favorable Government policies for foreign investment in Pakistan. He welcomed Ant Financial’s decision to invest in Pakistan and lauded Telenor’s efforts towards the socio-economic development of the country. He said that the collaboration would help broadening access to financial services through digital payment solutions.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	166,498.84 185.04M	-0.57% -952.30
ALLSHR	100,481.40 703.99M	-0.51% -519.61
KSE30	49,764.01 68.59M	-0.64% -319.08
KMI30	240,340.56 94.21M	-0.36% -880.32
KMIALLSHR	65,599.63 389.80M	-0.33% -217.28
BKTi	45,136.63 31.52M	-1.09% -499.60
OGTi	35,252.30 4.64M	-0.58% -205.48

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,810.00	81,815.00 78,985.00	2065.00 2.59%
BRENT CRUDE	104.88	107.13 103.88	-0.75 -0.71%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-6.70 -5.74%
ROTTERDAM COAL MONTHLY	108.25	108.25 107.25	0.00 0.00%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	100.79	102.35 99.39	-0.23 -0.23%
SUGAR #11 WORLD	14.98	15.42 14.92	-0.40 -2.60%