Pakistan’s leading fintech ABHI has taken a monumental leap into the world of banking with the launch of ABHI Microfinance Bank.
In partnership with TPL Corp, this strategic move marks a new chapter in ABHI’s journey, transforming it from a digital innovator into a full-fledged financial institution. With 36% of Pakistan’s adult population still unbanked, this transition is more than just a milestone for ABHI—it’s a bold step toward improving financial access for millions across the country.
“This strategic collaboration … marks a significant step toward redefining financial inclusion in the country,” according to a statement issued by Abhi.This strategic collaboration … marks a significant step toward redefining financial inclusion in the country.
ABHI Microfinance Bank
In a grand unveiling ceremony at Karachi’s iconic Mohatta Palace, ABHI and TPL Corp Limited unveiled their ambitious collaboration: ABHI Bank. TPL Corp. is the investment holding company of the TPL Group with investments across real estate, transport, insurance, securities, technology, venture capital and insurance.
Industry leaders, international investors, and key stakeholders gathered to celebrate the launch. The event featured insightful discussions on the future of microfinance, digital banking, and financial accessibility, with prominent speakers including Jameel Ahmed, Governor of the SBP, and Omair Ansari, Co-Founder & CEO of Abhi.
Approved by the State Bank of Pakistan (SBP) and the Competition Commission of Pakistan (CCP), this collaboration marks a significant step toward redefining financial inclusion in a country where 36% of adults remain unbanked.
ABHI’s journey from fintech to bank
Founded in 2021 by Omair Ansari and Ali Ladhubhai, Abhi started as a fintech addressing a critical need: financial accessibility. Its flagship product, Earned Wage Access (EWA), allowed employees to access their salaries in real time, revolutionizing financial wellness for millions.
Since then, Abhi has grown exponentially, expanding its offerings to include payroll services, SME financing, and more. From its roots in Pakistan to its footprint in the UAE, Saudi Arabia and Bangladesh, ABHI has consistently pushed boundaries, becoming a trailblazer in the fintech space. Its achievements include raising $25 million in a pre-Series B round and earning an invitation to Davos 2025—a first for a Pakistani fintech.
Now, Abhi is taking its biggest leap yet: transitioning from fintech to microfinance bank. This evolution reflects its commitment to making financial access a right, not a privilege, for every Pakistani.
Why it matters
Pakistan, with a population of 240 million, is home to one of the world’s largest unbanked populations. According to the SBP, only 64% of adults have access to a bank account, and the gender gap in financial inclusion remains a persistent challenge.
The launch of ABHI Microfinance Bank, born from the acquisition of FINCA Microfinance Bank, aims to address these gaps head-on. By leveraging cutting-edge technology and strategic partnerships, the bank seeks to empower individuals, small businesses, and underserved communities, unlocking new economic opportunities and driving sustainable growth.
Jameel Ahmed, Governor of the State Bank of Pakistan, highlighted during the event, “This acquisition marks a significant step toward strengthening Pakistan’s financial ecosystem and expanding access to credit for unserved and underserved communities. Collaborations like these play a vital role in driving financial inclusion and empowering individuals and businesses across the country.”
Key Takeaways
- ABHI and TPL Corp have officially launched ABHI Microfinance Bank, following the acquisition of FINCA Microfinance Bank.
- The partnership, approved by Pakistan’s central bank, aims to expand access to credit for unserved and underserved communities.
- ABHI Microfinance Bank will offer innovative financial solutions, including gold-backed loans, salary advances, and AI-powered credit scoring.
- The bank plans to leverage FINCA’s extensive microfinance network and TPL Corp’s expertise in insurance, real estate, and technology.
- The initiative aligns with the SBP’s goal to increase bank account coverage to 75% of adults and reduce the gender gap to 25% by 2028.
ABHI Microfinance Bank is more than just a financial institution—it’s a catalyst for change. By integrating ABHI’s digital solutions, FINCA’s microfinance expertise, and TPL Corp’s diversified portfolio, the bank aims to provide accessible, innovative financial services tailored to Pakistan’s evolving needs. From gold-backed loans to AI-powered credit scoring, the bank is set to revolutionize how millions of Pakistanis access and use financial services.
Impact on key industries
The launch of ABHI Microfinance Bank is expected to have a ripple effect across multiple sectors:
- Small Businesses: By providing tailored financial solutions, the bank will empower SMEs to grow and thrive.
- Women Entrepreneurs: With FINCA’s legacy of supporting women, the bank will continue to advance financial inclusion for female entrepreneurs.
- Digital Banking: The integration of AI and branchless banking infrastructure will make financial services more accessible to rural and underserved communities.
- Economic Growth: By expanding access to credit and financial education, the bank will contribute to Pakistan’s economic recovery and long-term stability.
What’s next?
The partnership between ABHI, TPL Corp, and FINCA is just the beginning. Over the next few years, ABHI Microfinance Bank plans to expand its reach, introduce new products, and leverage technology to enhance financial accessibility. With a capital injection of 2.6 billion PKR and a strong foundation in FINCA’s branchless banking infrastructure, the bank is well-positioned to transform Pakistan’s microfinance industry.
The launch of ABHI Microfinance Bank marks a transformative moment for Pakistan’s financial ecosystem, particularly for the millions of unbanked and underserved Pakistanis.
