NADRA has ability to establish a provincial microfinance bank for the province of Punjab. The capital requirement for MFB by SBP is Rs.500 million which can be easily raised through current bills collection system i.e. NADRA e-Sahulat. NADRA has a good structure of NADRA Registration Centers and e-Sahulat franchisees network. All registration centers have ability to become branches of NADRA MFB. All e-Sahulat franchisees can work as branchless agents. Just 2-3 Data Entry Operators are required to establish a bank branch counter at NADRA registration center. At initial stage 1 link ATM machines would be installed at district level. On the success of provincial level the system may be expanded over the country.
In past, NADRA had experienced availability of financial services at its registration centers to recharge e-Sahulat franchisee’s accounts as well as bill payment services. The e-Sahulat franchisees were advised to deposit cash at NRC and recharge their accounts. Now the system has been changed and e-Sahulat franchisees are getting e-Sahulat recharge directly from commercial bank’s CMD accounts.
The e-Sahulat software has an option to install biometric thumb scanners for branchless account holders which distinguishes NADRA among its competitors. Omni & other BB networks depend on customer’s photograph.
NADRA just needs to install small e-Sahulat branchless banking software in franchisees computers integrated with Dot Net framework system and Java Runtime Environment already working at e-Sahulat outlets. The software for Banking and e-Sahulat should work separately but balance will be shared from or to e-Sahulat accounts (as UBL Omni Recharge/Agent Funds Movement System).
To raise microfinance lending facility, e-Sahulat franchisees, government employees, armed forces and NADRA employees are also the good customers for NADRA MFB. For example, if any franchisee needs to buy accessories to maintain e-Sahulat standards, the bank will finance at market/KIBOR interest rate.
This should be an immediate decision. Project should be launched within 2-3 months otherwise big market share will be lost.