first microfinance bank pakistan
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8/13/2019 First MicroFinance Bank Pakistan
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In the name of ALLAH
The creator of every creationThe piety
The beneficentThe merciful
The wise
The Lord of the worldThe first and last
The sender of the Holy ProphetMuhammad may peace be upon him
Whereof there is no doubt
The owner of the Day of Judment To whom every one will be brouht bac!
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Ac!nowledement
All glory and honor is for Allah, the Supreme Being who bestowed
profound perseverance and ability on us to accomplish this work.
We express our profound and cordial gratitude to offer thanks to our
learned, kind and experienced teacher, PROF MAVRA RIAZ for his
valuable guidance, constructive comments and continuous encouragement
through out the research.
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DEDICATION
Dedicated to our Beloved and Respectable Parents
and our respected teacher PROF MAVRA RIAZ who
bestowed us with the courage, the commitment and the
awareness to follow the right path, by their unmatchable
style and by their best possible training. Who also made us
able to complete this report with confidence in every best
possible way that we could have done.
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EEXECUTIVEXECUTIVE SSUMMARYUMMARY
The First Microfinance Bank Ltd (FMFB) is the result of the transformation of theThe First Microfinance Bank Ltd (FMFB) is the result of the transformation of the
microfinance program of the Agha Khan Rural Support Program (AKRSP) !ithmicrofinance program of the Agha Khan Rural Support Program (AKRSP) !ith
more than t!ent" "ears of e#perience into a separate speciali$ed microfinancemore than t!ent" "ears of e#perience into a separate speciali$ed microfinance
%ank& 'n *& The First Microfinance Bank Ltd !as esta%lished as a non+listed%ank& 'n *& The First Microfinance Bank Ltd !as esta%lished as a non+listed
pu%lic limited compan" under the pro,isions of the -ompanies. /rdinance inpu%lic limited compan" under the pro,isions of the -ompanies. /rdinance in0o,em%er 122 and licensed as a Microfinance 'nstitution (MF') under the0o,em%er 122 and licensed as a Microfinance 'nstitution (MF') under the
pro,isions of the Microfinance 'nstitutions /rdinance 122 in 3anuar" 1221&pro,isions of the Microfinance 'nstitutions /rdinance 122 in 3anuar" 1221&
FMFB formall" started operations in Fe%ruar" 1221 taking deposits through itsFMFB formall" started operations in Fe%ruar" 1221 taking deposits through its
first %ranch in 3ul" 1221first %ranch in 3ul" 1221 The First Microfinance Bank Ltd (FMFB) has an e4uit"The First Microfinance Bank Ltd (FMFB) has an e4uit"
%ase of 5S6 &* million& The main shareholders are 7 Agha Khan Rural Support%ase of 5S6 &* million& The main shareholders are 7 Agha Khan Rural Support
Programmer (89:) the Agha Khan Agenc" for Microfinance (;2:) and theProgrammer (89:) the Agha Khan Agenc" for Microfinance (;2:) and the
'nternational Finance -orporation (18:)&'nternational Finance -orporation (18:)&
The authori$ed capital of FMBL is Rs& %illion comprising 22 million shares ofThe authori$ed capital of FMBL is Rs& %illion comprising 22 million shares of
Rs& 2 each& As on 6ecem%er ; 1229 the paid up capital is Rs **2 millionRs& 2 each& As on 6ecem%er ; 1229 the paid up capital is Rs **2 million
FMFB currentl" operates 1 %ranches < %eing in the ma=or ur%an centres ofFMFB currentl" operates 1 %ranches < %eing in the ma=or ur%an centres of
Ra!alpindi Karachi Lahore >"dera%ad and ?!adar and 8 in rural 0orthernRa!alpindi Karachi Lahore >"dera%ad and ?!adar and 8 in rural 0orthern
ar ar eas &eas &
The %ank.s principal %usiness is to pro,ide microfinance ser,ices to the poor andThe %ank.s principal %usiness is to pro,ide microfinance ser,ices to the poor and
under ser,ed segments of the countr" as en,isaged under the Microfinanceunder ser,ed segments of the countr" as en,isaged under the Microfinance
'nstitutions /rdinance 122&'nstitutions /rdinance 122&
&&'ts products and ser,ices includes Micro -redit Social Loan Products Start 5p'ts products and ser,ices includes Micro -redit Social Loan Products Start 5p
Business Finance Sa,ings and 6eposits and 'nsurance &And its generalBusiness Finance Sa,ings and 6eposits and 'nsurance &And its general%anking products includes%anking products includes Remittances fund transfer che4ue collectionRemittances fund transfer che4ue collection
demand draft and pa" order &'t also offers %usiness de,elopment ser,ices & & 'tdemand draft and pa" order &'t also offers %usiness de,elopment ser,ices & & 't
recei,ed a rating grade of A@A+ from 3-R+'S -redit Rating -ompan" in Aprilrecei,ed a rating grade of A@A+ from 3-R+'S -redit Rating -ompan" in April
;2 122C !hile in 122< it !as A@A+@&;2 122C !hile in 122< it !as A@A+@&