LOLC Microfinance Bank has formalized a strategic partnership with Pakistan Telecommunication Company Limited (PTCL) to drive scalable digital transformation across its microfinance operations. The agreement, signed at a ceremony in Islamabad, provides LOLC access to comprehensive cloud services through PTCL Smart Cloud, utilizing PTCL’s advanced infrastructure and platform solutions to strengthen technology-driven banking services nationwide.
The signing ceremony was attended by senior executives from both organizations, including Farooq Rashid, Chief Executive Officer of LOLC Microfinance Bank, and Asif Ahmad, Group Chief Business Solutions Officer, PTCL & Ufone 4G, who executed the agreement. Witnessing the event were key stakeholders including Ilsam Awfer, Chief Operating Officer, Nizar Ali Momnani, Chief Commercial Officer, and Faraz Basheer, Head of IT at LOLC Microfinance Bank, alongside PTCL executives Haseeb Hashmi, Group Director Enterprise Solutions, and Syed Imran Ali Bukhari, Group Vice President Strategy and Product Management.
Speaking at the event, Farooq Rashid emphasized the transformative potential of the collaboration, stating that the partnership with PTCL would redefine LOLC Microfinance Bank’s approach to infrastructure, data management, and platform services. He highlighted that leveraging PTCL’s expertise in data centers and telecommunications would enhance operational reliability, accelerate product delivery, and reduce the time-to-market for new financial services. This initiative aligns with LOLC’s broader strategy to scale its microfinance operations while maintaining robust and secure digital infrastructure.
Asif Ahmad of PTCL underscored the significance of the agreement in the context of Pakistan’s ongoing digitalization efforts. He noted that PTCL, as a national telecom leader, is committed to providing secure, innovative solutions to corporate clients, including financial institutions, which contribute to broader economic growth. “Through partnerships like this, PTCL continues to play a key role in enhancing the country’s ICT and digital banking ecosystem,” he said.
The collaboration is designed to support LOLC Microfinance Bank in achieving scalable infrastructure as a service (IaaS), enabling the bank to expand its microfinance services across Pakistan efficiently. PTCL Smart Cloud will provide a secure, resilient, and flexible platform capable of accommodating increasing transaction volumes, data management requirements, and digital service offerings while maintaining compliance with industry standards.
This strategic move reflects the growing intersection of fintech innovation and telecommunications infrastructure in Pakistan’s banking sector. By leveraging cloud technology and modern digital platforms, microfinance institutions like LOLC are enhancing operational efficiency, improving customer experiences, and positioning themselves as leaders in technology-driven financial services.
Furthermore, the partnership highlights PTCL’s continued commitment to delivering best-in-class ICT and security solutions to corporate clients. By integrating innovative cloud services with financial operations, this collaboration strengthens Pakistan’s digital banking ecosystem, supports inclusive finance, and accelerates the adoption of technology-enabled banking solutions.
Through this partnership, LOLC Microfinance Bank and PTCL are setting a benchmark for how financial institutions and technology providers can collaborate to scale digital operations, foster financial inclusion, and drive sustainable growth in Pakistan’s evolving financial sector.
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