…As Ihedioha tasks Nigerians on savings culture HASAL Microfinance Bank Limited has launched its Microfinance Club House , a new account which allows high profile individuals to save a minimum of N10 million, for on lending to genuine SME entrepreneurs and others at a cheaper rate to empower the active poor and generally improve the lives of ordinary Nigerians at the grassroots. The Microfinance club house is a fund management product of HASAL Microfinance Bank Limited , which seeks to mobilize tenured funds by sourcing for long-team funds to balance with the demand deposits; and redistribute wealth by empowering the economically active but poor persons at the bottom of the economic pyramid through creation of risk assets. Briefing the media on the innovative account at the bank's 5th year anniversary cocktail party in Abuja , the Managing Director, Mr. Rogers Nwoke , said the initiative was in furtherance of the bank's vision to impact positively on the poor and vulnerable groups in its areas of operations by pooling funds from the rich on mutually beneficial terms to provide improved access to credit at a cheaper rates to the needy in line with the nation's financial inclusion strategy. Nwoke explained that if the rich in the society embrace the product by saving in the bank, HASAL MFB would be better positioned in its current drives to create more channels to more customers in need of money to grow their businesses and by implication, help in curbing the menace of unemployment, poverty and other socio-economic deprivations being experienced by Nigerians in the grassroots. Meanwhile, the Deputy Speaker, House of Representatives , Emeka Ihedioha , who was the Guest of Honour at the social forum, stressed the need for Nigerians to imbibe the culture of saving as a strategic option for supporting MFBs in their efforts to improve lending to the active poor to eliminate poverty and ensure sustainable growth of the economy. The lawmaker, who described the lack of saving culture among Nigerians as the bane of national development initiatives, urged the people in the grassroots to patronize the MFBs as a way of forging a symbiotic partnership for wealth for wealth creation and broad-based, people-oriented economic growth in the country. Ihedioha said: "As a politician it is hard for us all to save money, any money that enters our hand we tend to spend it and that's not the best way to live, we all should start saving money so that MFBs like HASAL MFB can easily lend to people and this account is the best way for us all to do just that." In her remarks at the occasion, the Chairman HASAL MFB, Prof. Ndi Okereke-Onyiuke, spoke on her passion to facilitate the growth of young business men and women, adding that this was partly responsible for creation of the bank which is driven by a corporate philosophy that targets the active poor in the country. She explained: "In HASAL Microfinance Bank it is our vision to provide equal opportunities for every Nigerian that knocks on our door and assist them in the best possible way we can, and these are in accordance with its vision to equip hard-working Nigerians attain their potential in business".
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