Following a decade of success by Kashf Foundation, Kashf Microfinance Bank Limited (KMBL) was established in June 2008 with a vision to become Pakistan’s leading microfinance bank serving all to become a prosperous, equitable and poverty free Pakistan. KMBL will offer a diversified range of financial products and services to low income wage earners as well as the self-employed of Pakistan. It will leverage and build on its associated company’s outreach and experience, as well as charter new paths as a regulated, deposit taking entity, maintaining the group’s commitment to financial services for all.
KMBL has initiated its lending operations from 1st November 2008 and is now geared to commence liability operations with 18 branches. Initially, our presence is in 13 cities of Pakistan and an additional 14 branches will be opened this year taking the network to 32 branches by end of the year. In 5 years, we plan to open 100 branches across 31 cities reaching out to more than 1 million clients.
Key Drivers:
- Achieve financial services for all: build upon Kashf Foundation’s reputation and success in Pakistani market to extend outreach by leveraging on the foundation’s distribution network;
- Build a profitable, transparent and socially responsible microfinance bank, with solid capital position, managed and governed by top notch management and board, respectively, with strong focus on corporate values, ethics and customer care;
- Provide a full range of demand driven financial products and services to the unbanked population of Pakistan; products to include loans, savings, insurance, remittances, and other value-added financial services;
- Demonstrate a business model based on locally mobilized deposits, targeting a wide range of clients especially low income savers;
- Reach significant portion of market: within five years, reach 40% of potential micro and small entrepreneur market through presence in all four provinces and Azad Jammu Kashmir (AJK).
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