Kashf Microfinance to offer savings kiosks

Microfinance Monitor, April 24, 2010: Pakistan’s Kashf Foundation and its microfinance bank will initiate Kashf Savings Kiosk at Kashf Foundation branches across the country to provide savings facilities to the poor in Pakistan, said a statement.

Kashf Foundation’s MD Roshaneh Zafar and the CEO of Kashf Microfinance Bank Limited, Mr. Ghazanfar Azzam, signed an agreement to this effect recently, said the statement.
The kiosk project will open up avenues for raising deposits from low income households and ensuring that like other countries of the world, poor people especially women have safe places to save their money, said a statement.
Low income households will have access to formal savings accounts with Kashf Microfinance Bank Ltd., where they will be able to save with even their small saving amounts.

Ghazanfar Azzam, CEO Kashf Microfinance Bank, said the Kiosk model will add a successful and inexpensive delivery channel for delivery of basic financial services to the large unbanked population of the country and increase access to financial services in a significant manner.