How can financial services work best for the poor? | Guardian

Financial services can help transform livelihoods and economies in developing countries. Our panel offers 10 points key to reaching universal financial inclusion -snip- Joanna Ledgerwood, senior advisor, Aga Khan Foundation, Geneva Switzerland Governments play complex roles: For helpful information on the role of government in financial inclusion, see chapter 3 (on the role of government…

Aga Khan Foundation Canada hosting Workshop to Launch the New Microfinance Handbook – Carleton Centre for Community Innovation

Aga Khan Foundation Canada (AKFC) – in partnership with Carleton University’s School of Public Policy and Administration and The MasterCard Foundation – is delighted to invite you to the next event in the AKFC Seminars on Innovative Financing for Development. via Aga Khan Foundation Canada hosting Workshop to Launch the New Microfinance Handbook – Carleton…

World Bank’s The New Microfinance Handbook

By Joanna Ledgerwood. Currently head of Access to Finance for the Aga Khan Foundation in Geneva. This handbook addresses the need for increased financial inclusion by examining the financial market system, beginning with client needs. Foreward by Tom Kessinger General Manager Aga Khan Foundation and Reeta Roy President and CEO The MasterCard Foundation. https://openknowledge.worldbank.org/bitstream/handle/10986/12272/9780821389270.pdf Related:…

New Microfinance Handbook addresses the need to broaden microfinance’s reach

The term microfinance covers a multitude of financial service providers. Joanna Ledgerwood argues for an approach that recognises their distinctions and plays to their collective strengths. The Mountain Societies Development Support Programme (MSDSP), an NGO set up and supported by the Aga Khan Foundation in Tajikistan, is a good example of a market systems approach…

Citi Microfinance supports participation of microfinance and nonprofit institutions at Toronto International Microfinance Summit

TORONTO, Sept. 12, 2011 /CNW/ – Toronto International Microfinance Summit announced today that Citi Microfinance is providing $25,000 to enable the attendance of select representatives of microfinance and nonprofit institutions at its 2011 conference, taking place at Toronto’s Allstream Centre this month. In its third year, the Summit is comprised of two events: a fundraising…

Syria Today | Small Loans, Big Business: Can microfinance help solve Syria’s poverty problem?

“The aim is to improve the quality of life for the majority of Syrians who are denied access to mainstream financial services,” David James, chief executive of the First Microfinance Institution-Syria (FMFI-S), the country’s largest micro-lender and part of the Aga Khan Development Network In towns and villages across the country, Syria’s small but growing…

AKDN News: Microfinance Client Wins Micro-Entrepreneurship Award

Islamabad, Pakistan, 22 February 2011 – A client of the First MicroFinanceBank (an institution of the Aga Khan Agency for Microfinance) in Pakistan, Purdum Wali, won the “Best National Micro-Entrepreneur Award Male” at the recent Citi-PPAF Micro-entrepreneurship Awards 2010 ceremony held in Islamabad. Purdum Wali, from Mastuj, Chitral, was awarded a cash prize of PKR…

Dutch cooperative Oikocredit invests in AKDN’s First MicroCredit Company of Kyrgyzstan

Oikocredit, a Dutch cooperative investment fund, recently reported to MicroCapital the details of recent investments in three microfinance institutions (MFIs) in Central Asia: IMON International of Tajikistan, The First Microcredit Company of Kyrgyzstan and Credit Union ABN, also of Kyrgyzstan. […] About The First Microcredit Company (FMCC) of Kyrgyzstan: Aga Khan Development Network (AKDN) launched…

Microfinance Bank in Pakistan Receives CGAP’s Silver Category Award for Social Reporting

Second Consecutive Social Performance Reporting Award The First MicroFinanceBank Ltd. Pakistan (FMFB-P), an institution of the Aga Khan Agency for Microfinance, was awarded a certificate of recognition in the silver category for reporting on social indicators to the Microfinance Information Exchange (MIX) by the World Bank affiliate, CGAP (Consultative Group for Assisting the Poor), in…

Syria: Microfinance to combat drought

DAMASCUS, 5 October 2010 (IRIN) – Farmers and herders are being targeted with microfinance in an effort to relieve drought-related poverty in Syria. Widely used across the developing world since the 1970s, Syria has relatively few providers. –snip– In drought-prone areas the Aga Khan Foundation is working with its subsidiary, the First Microfinance Institution (FMFI).…

AKU responds to devastating floods in Pakistan

August 19, 2010 Focusing on its strengths in medical care and community health, AKU is dispatching several volunteer teams of doctors and nurses to flood-affected areas across Pakistan, to help address the health care issues being faced by people displaced by the disaster. The University’s employees have also contributed a day’s salary, funds which will…

AKAM’s Micro Health Insurance Product reaches 60, 000 Clients | Microfinance News

Microfinance Focus, June 15, 2010: Aga Khan Agency for Microfinance (AKAM) is an industry pioneer in developing micro health insurance products. Realizing the fact that a near absence of health insurance, often leaves the poor impoverished due to illnesses and sudden causalities, AKAM opened the First Microinsurance Agency Pakistan in 2007 and the First Microinsurance…

First MicroBank Mozambique is Inaugurated as a Rural Microfinance Bank

Pemba, Mozambique, 8 May 2010 – The First MicroBank Mozambique (FMB-M) was inaugurated today, in a ceremony attended by President Armando Guebuza of Mozambique and Governor Eliseu Machava of Cabo Delgado. Other officials included Mr. Nazim Ahmad, Representative of the Aga Khan Development Network (AKDN) in Mozambique, Mr. Jacques Toureille, the General Manager of the…

The First MicroFinanceBank Ltd and Pakistan Post Office Agree to Expand Microfinance Services for the Poor

Islamabad, 28 January 2010 – The First MicroFinanceBank Ltd – Pakistan (FMFB-P) and the Pakistan Post Office (PPO) will further expand operations to provide microfinance services through post offices. Ghulam Panjtan Rizvi, Additional Director General Financial Services, Pakistan Post and Hussain Tejany, President of The First MicroFinanceBank, signed the agreement. Muhammad Ahmed Mian, Director General…

Press Release: Microfinance Helps Poor Families Build Safer Housing in Pakistan

Karachi, 06 January 2010 – Two institutions of the Aga Khan Development Network, The First MicroFinanceBank Ltd Pakistan (FMFB) and the Aga Khan Planning and Building Service, Pakistan (AKPBS), are launching a programme designed to help poor and low-income families make their homes safer, healthier and more energy efficient. FMFB will provide needs-based, short to…

Press Release: Free Clinics in Pakistan Promote Microinsurance for Healthcare

Several hundred clients of the First Microinsurance Agency (FMiA) in Karachi were offered basic outpatient care, along with information on health insurance, in a new programme designed to make poor people aware of microinsurance services and their benefits. The clinics, which are sponsored by FMiA, are run by two qualified doctors. The health clinics programme,…

The First MicroFinanceBank and Harvard University to Research Social Performance

Karachi, Pakistan, 11 September 2009 – The First MicroFinanceBank Ltd. (FMFB) recently signed an agreement with Harvard University to develop social performance indicators through a participatory approach whereby the poor articulate their needs and influence the Bank’s creation of microfinance products and services. The ultimate aim of this project is to integrate the social performance…

A new branch of micro-finance institution opens in Homs, Syria

Original article in Arabic, translated via Google. – September 3, 2009 The Aga Khan Agency for Microfinance (AKAM) opened its branch of first micro-finance institution in Homs Syria. The Resident Representative of the Aga Khan Development Network Mohammad Sipho (sp) said that the organization is working on two developmental social and conventional banking, adding that…

Press Release: FMFB-Pakistan and FMFB-Tajikistan Among Top-100 MFIs in 2008 MIX Global 100 Rankings

Geneva, 27 December 2008 – The Aga Khan Agency for Microfinance was pleased to note that two of its institutions, First MicroFinanceBank-Pakistan (FMFB-Pakistan) and First MicroFinanceBank-Tajikistan (FMFB-Tajikistan), were ranked among the top-100 microfinance institutions by the Microfinance Information Exchange, Inc. (MIX), the microfinance industry’s leading source of information. AKDN Press Release Press Release: FMFB-Pakistan and…

Top Ranking for First MicroFinanceBank Pakistan in 2008 MIX Global 100 Report

FMFB ranks 7th in top 100 MFIs Observer Report Karachi—The First Micro Finance Bank Ltd. (FMFB) has been ranked 7th in the 2008 Mix Global 100 Composite Ranking of Microfinance Institutions (MFIs). The ranking issued by the Microfinance Information Exchange, Inc. highlighted the performance of well rounded leading MFIs that boost outreach and lower cost…

Aga Khan Agency for Microfinance Expands in Egypt

Aswan/Cairo, Egypt, 27 October 2008 – The First Microfinance Foundation (FMF), a subsidiary of the Aga Khan Agency for Microfinance (AKAM), and the United States Agency for International Development (USAID), have signed an agreement that will increase microfinance support to poor and low income families and small businesses in the Aswan Governorate. At present, the…

IFC to assist the First Microfinance Bank to pioneer access to Housing Finance in Afghanistan

Kabul, Afghanistan, October 7, 2008—IFC, a member of the World Bank Group, today signed an agreement with the First MicroFinanceBank, Afghanistan (FMFB) to strengthen the bank’s capacity to introduce a product line that will address the housing needs of low- and middle-income Afghans. Most microfinance institutions and banks in Afghanistan do not offer housing loans,…