First Micro Finance Bank is a banking and loan institution of Aga Khan Agency for Microfinance. The institution operates in Afghanistan and Pakistan. It is owned by the Aga Khan Development Network.
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 and the Aga Khan Fund for Economic Development in March 2002.
After its establishment The FirstMicro Finance Bank(FMFB) has grown into one of best mirofinance 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)
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