About The First MicroFinanceBank Ltd, Pakistan (FMFB-P)
The First MicroFinanceBank Ltd, Pakistan (FMFB-P) was established in 2002 as a nation-wide microfinance bank, licensed by the State Bank of Pakistan. FMFB-P was created through a structured transformation of the credit and savings section of the Aga Khan Rural Support Programme (AKRSP), an integrated development programme to pioneer the microfinance sector in the country since 1982 in Gilgit-Baltistan and Chitral.
FMFB-P was established with the mission to respond to poverty and contributes to the social and economic well-being of society by providing opportunities to thousands of under-privileged households. Through targeted financial and multi-sectoral products and services based on the evolving needs of the poor, FMFB-P enables its clients to strengthen their entrepreneurial base and build financial, physical and human capital to secure their future.
FMFB-Pakistan’s mission is to effect demonstrable, measurable and lasting improvement in the quality of life of target populations in Pakistan.
To achieve this, FMFB-P delivers appropriate financial services as a tool to reduce poverty, diminish the vulnerability of poor populations and alleviate economic and social exclusion. Secondary objectives are sustainability for the institution and financial inclusion for the poor. FMFB will strive to breakeven as quickly as possible and any surpluses, beyond a reasonable cushion against future shocks, will be reinvested into the business to provide better products and services, improve access, and ultimately lower interest rates.
Our Strategic Objectives
- Outreach – Increase access to financial services for the poor population in urban and rural areas, especially women.
- Sustainability – Safeguard permanence of services for the poor.
- Impact – Monitor social indicators to maximize the positive impact on the quality of life for the poor.
- Transparency – Ensure good practices, integrity, ethical principles and highest standards of integrity in business conduct.
Our Core Values