First Microfinance Bank
For other banks with a similar name, see First Bank.
First Micro Finance Bank is a banking and loan institution of Aga Khan Agency for Microfinance. The institution operates in Tajikistan, Afghanistan and Pakistan. It is owned by the Aga Khan Development Network. The main activity of FMFB is to help the small traders to meet their day-to-day operational expenses.
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.
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.
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