First MicroFinanceBank Ltd (FMFB)

The First MicroFinance Bank Ltd. (FMFB) traces its roots to the Aga Khan Rural Support Programme (AKRSP), which has been running a successful microfinance and integrated rural development programme in Pakistan’s northern areas since 1982. The positive experience of AKRSP’s programme served as a model for others worldwide. The FMFB was established as a non-listed public limited company in November 2001 with the support of the Government of Pakistan under the Companies’ Ordinance, 1984 and was licensed as a microfinance institution under the Microfinance Institutions Ordinance, 2001, in January 2002. Principal sponsors and shareholders include AKRSP, the Aga Khan Fund for Economic Development (AKFED), and the International Finance Corporation (IFC).

The Bank serves the rural and urban population of Pakistan, operating under two basic long-term principles, outreach and sustainability. The target market is vulnerable groups, especially women.

The Bank has already established seven loan units in the northern areas and Chitral, 13 branch offices in the rest of the country, a head office in Islamabad, a corporate office in Karachi, and has planned for another 30 branches over a five-year period. All branches have adequate facilities and the technological infrastructure to provide lending, deposit, and remittance services.

Performance Indicator (The MIX)