Ismaili.NET - Heritage F.I.E.L.D.

The Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO, recently announced it will loan the local-currency equivalent of USD 5 million to The First MicroFinance Bank-Afghanistan (FMFB-A), which is owned by the Aga Khan Agency for Microfinance (AKAM), a unit of Switzerland-based Aga Khan Development Network (AKDN) that provides microfinance services across ten different countries [1, 6]. Established in 2004, FMFB-A seeks to alleviate poverty and promote economic development “through the provision of sustainable financial services to t

Your Excellency, President Pervez Musharraf,Honourable Governors,
Honourable Ministers,
Excellencies,
Distinguished Guests

As-salaam-wa-Alaikum

I would like to begin by expressing my warm and sincere gratitude to Your Excellency for joining us to celebrate this inaugural occasion. It is, as I would like publicly to acknowledge today, yet another sign of the steadfast support and encouragement that you have given to our initiative to establish The First MicroFinanceBank. Above all, it evidences Your Excellency's commitment.

His Highness the Aga Khan, Imam of the Ismaili Muslims, and Pakistan?s President Pervez Musharraf yesterday launched two major initiatives: one to address the problem of endemic poverty, and the other to realise more fully the potential of an underdeveloped sector of Pakistan?s economy. These were also amongst topics discussed between the two leaders in private meetings.

Prince Karim Aga Khan has said he was considering to open a micro finance bank, and take part in other welfare activities in Afghanistan to help alleviate poverty from that country.
Speaking at the inaugural ceremony of first Micro Finance Bank, set up by the Aga Khan foundation in Pakistan, he said here on Monday that a similar bank would be established in Afghanistan owing to growing poverty and other economic problems being faced by the Afghan government.

President General Pervez Musharraf on Monday inaugurated the country's first private financial institution, The First Micro-Finance Bank Ltd. The institution is dedicated to address the problems of endemic poverty, starting out with a capital of Rs 500 million contributed by the Aga Khan Rural Support Programme and the Aga Khan Foundation.