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Abu Dhabi Group (ADG) has indicated to launch an independent mobile financial services company through joint-venture of Bank Alfalah and Warid, it was said in an official press statement.
The group will enter into Pakistan’s mobile-banking industry with combination of two subsidiaries that will develop a branchless and electronic eco-system comprising products and value proposition for merchants, businesses, consumers and the government sector.
Ali Abbas Sikandar will be heading the mobile-banking wing of Abu Dhabi Group. He worked with prominent international banks and led successful e-banking and branchless banking projects earlier in Pakistan and abroad.
The name of Service brand has not been exposed clearly, however there will be number of small businesses and employment generated and rapid transactions of money will be carried out easily.