First Micro Finance Bank

First Micro Finance Bank

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For other banks with a similar name, see First Bank
First Bank (disambiguation)
First Bank is the name used by various financial institutions worldwide. The term, either as whole or as part of a combination of names, may refer to:-International:* First National Bank , a name used by various banks worldwide...

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First Micro Finance Bank is a banking and loan institution of Aga Khan Agency for Microfinance
Aga Khan Agency for Microfinance
-Meaning:Microfinance is the provision of a broad range of financial services, for those who often do not have access, such as - deposits, loans, payment services, money transfers and insurance products - to low-income households to help them raise their income levels and improve their quality of...

. The institution operates in Afghanistan
Afghanistan
Afghanistan , officially the Islamic Republic of Afghanistan, is a landlocked country located in the centre of Asia, forming South Asia, Central Asia and the Middle East. With a population of about 29 million, it has an area of , making it the 42nd most populous and 41st largest nation in the world...

 and Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...

. It is owned by the Aga Khan Development Network
Aga Khan Development Network
The Aga Khan Development Network is a group of private, non-denominational development agencies that seek to empower communities and individuals to improve living conditions and opportunities, in sub-Saharan Africa, Central and South Asia, and the Middle East...

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First Micro Finance Bank is the embodiment of the concept of micro loans as a means to spur development in the third world. These loans are quite small relative to normal Western financial arrangements, but provide access to capital that was never possible due to economic, cultural, or historical reasons.

First Micro Finance Bank was set up by Aga Khan Rural Support Programme
Aga Khan Rural Support Programme
The Aga Khan Rural Support Programme was founded in the early 1980s in what is now Gilgit-Baltistan, Pakistan. Created by the Aga Khan Foundation, it worked on agricultural productivity, natural resource management, small-scale infrastructure and forestation...

 and the Aga Khan Fund for Economic Development
Aga Khan Fund for Economic Development
The Aga Khan Fund for Economic Development ' is the sole for-profit agency of the Aga Khan Development Network and works in partnership with international organizations and governments to stimulate the private sectors of developing economies, with the aim of generating capital for investment...

in March 2002.

After its establishment The First Micro Finance Bank(FMFB) has grown into one of best micro finance institutes in the country.It has expanded to over one hundred branches in just five years and is currently found in four major provinces, as well as Northern areas of the country.
The bank was awarded the CGAP transparency award twice in 2004 and 2005.'(by NAJIB YARZERECHIC)