China eyes Pakistan microfinance banking model

Pakistan says microfinancing system can benefit China.

State Bank of Pakistan Governor Yaseen Anwar said China is interested in adopting Pakistan’s microfinance banking model. China is the third largest unbanked country in the world.

Anwar said that China and Pakistan are also considering sharing their banking mechanism with each.

He said Pakistan’s microfinancing agent network has reached 30,000 while its microfinancing banking branches total some 13,000 branches. Pakistan intends to have 30 million customers in its microfinancing institutions.