Easypaisa to facilitate Central Depository Company’s account holders
(Left) Shahid Mustafa, President & CEO – Telenor Microfinance Bank with (Right) Mr. Badiuddin Akber,
CEO – Central Depository Company at the Signing Ceremony
Lahore, February 19, 2019: Telenor Microfinance Bank (TMB) and the Central Depository Company of
Pakistan Limited (CDC) have signed a Memorandum of Understanding (MoU) at CDC House Karachi. A
salient feature of the MOU will be the Easypaisa platform which will facilitate CDC account holders in
biometric verification and collection of funds. Signatories to the MoU were Shahid Mustafa, President &
CEO Telenor Microfinance Bank and Badiuddin Akber, CEO Central Depository Company.
This is a first step to enable utilization of the branchless banking medium as an approach to transform
the opportunity of investments for the investors of Capital Market and to create an ecosystem of
financial inclusion for individuals who are unable to access this mode of saving. Under the MoU, both
existing and new CDC account holders can easily reach out to 75,000 plus Easypaisa outlets located in
more than 800 cities across Pakistan for In-Person Verification (IPV) of their CDC online accounts.
Apart from Biometric Verification, the service will further incorporate utilization of Mobile Accounts for
initiating investor payment, collection of account opening fee in case of new account holders, and
collection of funds for payments initiated by any CDC Investor Account Services (IAS) account holder.
Subsequent to this MOU, both parties have agreed to start working on developing a solution which will
eliminate the need for visits by investors to the CDC premises for opening of an investor account with