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U Bank Granted ISO/IEC 27001:2013 Certification by Risk Associates

U Bank Awarded ISO/IEC 27001:2013 Certification by Risk Associates

Islamabad, Pakistan – July 2nd, 2024 – Risk Associates, a leading certification body accredited by UKAS, has awarded the prestigious ISO/IEC 27001:2013 Certification to U Microfinance Bank, one of the leading microfinance banks in Pakistan.

The certification ceremony, held at U Bank’s Head Office, marked a significant achievement in U Bank's ongoing commitment to upholding stringent data security standards. Mr. Aziz A. Rahim – Chief Operating Officer of Risk Associates, presented the ISO/IEC 27001:2013 Certificate to Mr. Muhammad Javed, Chief Compliance Officer & Acting Chief Risk Officer – U Bank.

ISO/IEC 27001:2022 is an internationally recognized standard for Information Security Management Systems (ISMS), outlining best practices for identifying, assessing, and mitigating information security risks. By implementing and maintaining robust ISMS, TMB has successfully showcased its ability to effectively identify, assess, and mitigate information security risks, ensuring the confidentiality, integrity, and availability of sensitive data.

ISO/IEC 27001:2013 is a globally recognized standard for information security management systems (ISMS), emphasizing best practices in identifying, assessing, and mitigating information security risks.

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We congratulate U Bank for their outstanding commitment to data security,” said Mr. Aziz A. Rahim – Chief Operating Officer of Risk Associates. “It validates the continuous efforts to maintain the highest levels of data security protecting sensitive data and sets a benchmark in the industry.

Mr. Mohamed Essa Al Taheri, President & CEO – U Bank CEO commented on the momentous occasion, “We are incredibly honored to receive the ISO/IEC 27001:2013 Certification. This prestigious recognition is a testament to our unwavering commitment to maintaining the highest security standards at U Bank. We take pride in understanding the critical importance of protecting our customers' sensitive information, and this certification underscores our dedication to safeguarding their trust. My heartfelt thanks to our entire team for their relentless efforts towards achieving this milestone and with their dedication we will continue to uphold these rigorous standards and set new benchmarks in data security.”

Key personalities at the ceremony included Mr. Hashim Mufti – Head Business Development & Strategy – Risk Associates and Mr. Bilal Ahmed Khan, Manager Information Security GRC – U Bank, alongside other representatives from both organizations.

ABOUT

Risk Associates

Risk Associates is a leading management systems certification body accredited by UKAS to provide ISO/IEC 27001 certifications. It also offers assessments against various standards, including Payment Card Industry standards such as PCI DSS, PCI SSF, PCI PIN, PCI 3DS, and C.S.A., Offensive security testing services such as Penetration Testing, Vulnerability Scans, Red Teaming, Managed Services, SOC I, and II.

With a legacy spanning two decades, Risk Associates is committed to mitigating risks and delivering comprehensive compliance, testing, audits, and certifications.

ABOUT

U Microfinance Bank

U Microfinance Bank Ltd. (U Bank) is a wholly-owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) – e& Group (formerly known as Etisalat Company).

The bank has a network of more than 375+ branches, across 210 cities and rural areas in Pakistan and offers a wide range of microfinance loans, deposit products, and branchless banking solutions. U Bank’s branchless banking offers services under the banner of UPaisa in collaboration with Ufone (Pak Telecom Mobile Limited).