KARACHI – The First Micro Finance Bank Ltd Pakistan (FMFB-P) and the Pakistan Post Office (PPO) renewed their agreement to alleviate poverty by reaching out to the poor populations of Pakistan by providing micro-finance services through PPO sub offices.
Aimed at addressing the key challenge of inaccessibility to the poor faced by the micro-finance industry across the globe, this unique public-private partnership between PPO and FMFB was initiated in 2008 and has allowed for rapid scaling up of quality micro-finance services to the very poor populations residing in remote rural and urban areas of Pakistan.
President The First Micro Finance Bank Hussain Tejany and Additional Director General Financial Services, Pakistan Post Ghulam Panjtan Rizvi signed the agreement for reaching out to the poor segment of the country particularly in the rural unbank areas of Sindh and Punjab, under the approval of the State Bank of Pakistan. Muhammad Ahmed Mian, Director General Pakistan Post and Federal Secretary Pakistan Post were also present at the occasion.
–snip–The First Micro Finance Bank Ltd, a part of the Aga Khan Agency for Microfinance (AKAM), is a premier, non-commercial, private sector Microfinance Bank licensed by the State Bank of Pakistan. FMFB has been ranked as 7th among the top 100 Micro-finance Institutions of the world by the World Bank affiliate
via nation.com.pk.
Ismailimail 
Thanks for the post. Pakistan, with a poverty rate of around 17% is a lucrative market for MFIs but the main issue is to improve the distribution channels to spread the advancement of micro finance services to the rural areas. I believe this is therefore a very smart move.
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Even if we keep the prospect of micro-financing reaching the masses, Pakistan Post Office’s fate is relying on value-added services, in today’s age of technology, Pakistan Post really need to shift the paradigm and concentrate more and more on financial services rather than just delivering the ordinary mail. Yes, Internet penetration in Pakistan is still not like many developed countries but it’s slowly catching pace and our beloved Post Office will soon meet the fate what Royal Mail in UK and other post offices around the world are facing now.
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