Muktinath Bikas Bank Receives “European Microfinance Award 2020”

November 22, 2020 | Investopaper

Muktinath Bikas Bank has become the winner of the “European Microfinance Award 2020” held in Luxembourg.

The Bank has been awarded the first prize of “European Microfinance Award 2020” by the International Independent Expert Selection Committee for its study and research on the effectiveness of the latest and customer-friendly inclusive savings services being provided to low-income members in small and micro banking programs.

70 organizations from 37 countries participated in the “European Microfinance Awards 2020”. Muktinath Bikas Bank from Nepal, one-one microfinance from Wenin and Ethiopia were selected in the top three for the competition. Muktinath Bikas Bank has received 1 lakh Euros in cash for this award. From this prize money, various activities will be done to involve the low income members in digital banking.

The Bank has been providing small and micro banking services through 118 out of 138 branches in 42 districts. Under Small and Micro Banking, more than 180,000 customer members are receiving direct services. It has been investing more than Rs 17 billion

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