Nadeem Hussain is President & CEO Tameer Microfinance Bank. He has established the bank in 2005 and increased its operations and business throughout the country with innovative products and advanced business model.
He was selected ‘Leader of the Year’ by an international panel of microfinance thought leaders at the Sixth Annual Global Microfinance Achievement Awards 2011.
Hussain has been in international banking for 27 years in Citibank/Citigroup in seven different countries and all major financial centers of the world. Hussain has, during his Citibank Career worked in Corporate Banking, Consumer Banking, Risk Management, Insurance, Transaction Banking and Treasury and member board of the Honk Kong Commodities Exchange.
He was interviewed by The News Tribe correspondent recently in which he highlighted the success he achieved through mobile-banking. Following is the excerpt.
The mobile-banking is a game changer now for the banks and cellular operators as well because it is channel which will change the rules of business and dynamics of the market in the coming future.
Tameer Microfinance Bank and Telenor Pakistan has launched its m-banking services two years back and have become a market leader in the sector with lion share.
The overall mobile transactions at domestic level have increased to 1.5 billion per month as the services recorded more than 45 billion transfer of money throughout the country.
There are 500,000 mobile accounts that were made on Easypaisa banking service.
Mobile-banking is vital to bankable the unbanked society. It is important not only for money transactions and different customers based services but it contains financial expulsing of the country and helps to document the economy gradually.
As the banks reserve the money of people increasingly, the country financial managers will able to utilize them for development purpose. They can take decisions, gauge purchasing powers and saving of the people through transparent way.
The mobile-banking will evolve in saving schemes soon, which will truly benefit to the country’s economy. The mobile-banking particularly with micro-finance channel will motivate people to invest in the bank and saving for the future with profit earnings. So people will save money instead of indulging in areas committee or bc and utilize their money with its right value.
The cellular operators and banks have entered gradually into mobile-banking system in different models. The customers’ will have more facilitation for money transaction and utility payment. The services competition will be healthy in future and the unbanked population will be served easily.
Tameer Microfinance Bank is not only leading mobile-banking but also paving ways for other players to enter into market. We are not feared of competition but happy to see the flourishing culture of mobile-banking in the country. We like to maintain our market share bigger but not at all that will be difficult to handle.
There will be more banks and cellcos in the mobile-banking business. All of them will have different models of business for their targeted audience so it will be good for all players to introduce value-added services to customers.
By 2013, Tameer Microfinance Bank will be largest in terms of customers’ base, location points and number of money transactions in Pakistan. The services has long-term role in the penetration of customers in rural and urban areas.
The cellular operators and banks have entered gradually into mobile-banking system in different models. The customers’ will have more facilitation for money transaction and utility payment. The services competition will be healthy in future and the unbanked population will be served easily.
Easypaisa will be successful as it has introduced mobile-banking services first time among all of the cellular operators and banks.
It has educated its customers and won their confidence at large. The banks’ strategy and model are comprehensive with lot of research identified the needs and demands of the customers.
We are far ahead of upcoming competitors because we have expanded our network and launched different services to cater the need of a customer. The brand will introduce different services to large unbanked population, including large-scale money transaction services such as Benazir Income Support Program (G-to-P) and pensions and salaries disbursement system.
We have 18,000 agents throughout the country and we will increase to 30,000 in next couple of years.
I am contend and happy with my work particularly working for people of my country. I have been engaged with different financial institutions and served them successfully but the satisfaction I feel at microfinance bank is very high.
I used to establish banks in the past but now I am now working for the progress of my people.
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