JazzCash & Karandaaz Enter into a Strategic Partnership for Digital Financial Inclusion

Islamabad -November01, 2016: JazzCash and Karandaaz have entered into a strategic alliance to enhance access of digital financial services in Pakistan. To form this alliance a signing ceremony was held between Aniqa Afzal Sandhu, VP Digital & Mobile Financial Services – Mobilink and Ali Sarfraz Hussain, CEO – Karandaaz Pakistan.

Under this alliance, Karandaaz Pakistan, supported by United Kingdom Department for International Development (DFID) and Bill & Melinda Gates Foundation, will provide a grantas well as technical support to JazzCash in implementing key findings of the human-centered design research recently completed by the former. This support will helpbring greater innovation to Jazz Cash’sexisiting Mobile Application and increase its uptake amongst over 50 million Mobilink-Warid customers.

Speaking atthe occasion, Aniqa Afzal Sandhu, said, “Having provided access to financial services to millions of customers through Mobile Accounts, we at JazzCash understand their evolving needs for a more digital experience such as a Mobile App. At the same time we understand that the application must provide our customers with the most user friendly interface and design. By combining our resources and expertise, we look forward to working with Karandaaz Pakistan on this front in the months to come to provide the best digital experience to our customers.”

Ali Sarfraz emphasized the importance of mobile money payments in the country and stressed the important role mobile financial service providers are playing in advancing financial inclusion in the country.

About JazzCash:

JazzCash has more than 65,000 retail outlets across Pakistan. JazzCash offers both Over-the-Counter (OTC) and Mobile Account facilities for customers along with funds transfers, payment of utility bills, corporate disbursements and mass payment collections.

About Karandaaz Pakistan

Karandaaz Pakistan (www.karandaaz.com.pk), a Section 42 company established in August 2014, promotes access to finance for small businesses through a commercially directed investment platform, and financial inclusion for individuals by employing technology enabled digital solutions. The Company has financial and institutional support from leading international development finance institutions; principally United Kingdom Department for International Development (DFID) and the Bill & Melinda Gates Foundation.

The Company has three work streams, Digital Financial Services, Corporate Investment and Credit and Knowledge Management and Communications. Karandaaz Pakistan is sponsored and governed by eminent Pakistanis, and is managed by an experienced team with core expertise in international investment management and digital finance.