It was founded in 2006 by Nadeem Hussain as Tameer Microfinance Bank, which was later acquired by Telenor Pakistan.[2]
In November 2008, Telenor Pakistan acquired 51 percent shares in Tameer Microfinance Bank for $12.5 million.[3] In March 2016, Telenor Pakistan acquired the remaining 49 percent shares of Tameer MicroFinance Bank for an undisclosed sum.[2][4]
In March 2018, Ant Group announced to acquire a stake for $184.5 million in Telenor Microfinance Bank through its subsidiary Ant Financial.[5] In November 2018, the Competition Commission of Pakistan approved Alipay's – a subsidiary of Ant Financial – acquisition of 45% shareholding in the microfinance bank for $184.5 million.[6][7]
In November 2021, the board of MCB bank approved to conduct due diligence to buy 55% shares of Telenor Microfinance Bank.[8][9][10]
Products
Easypaisa, Pakistan’s first mobile banking platform launched in 2009, is the only GSMA mobile money certified service in the country. Initially launched as a money transfer service. It is part of Telenor Microfinance Bank and operates as a branchless banking service.[11]
