Website: www.kashf.org

Bank Description:

Kashf Microfinance Bank (KMB) is a newly-established microfinance bank, which will be registered with the Securities and Exchange Commission of Pakistan and regulated by the State Bank. KMB will commence operations with the purchase of a portfolio of approximately 15,000 individual loans totaling Rs. 337MM ($5.6MM)* from the Kashf Foundation. These loans were provided through the Kashf Foundation’s Business Sarmaya Loan (BSL) product, which has grown steadily since its creation in 2005.

 
Kashf Foundation was the first MFI in Pakistan to achieve financial sustainability and the first to obtain an investment grade credit rating. KMB will build on this successful financial and outreach record, leveraging the operations, existing client base and the strong Kashf brand to provide a broader range of financial services and extend outreach to a larger segment of the population of Pakistan.
 
KMB will offer the market a full range of financial products and services in the micro sector, including credit for working capital, household needs, home improvement, transportation and emergency financing, and deposit products such as checking, savings, certificates of deposit and a programmed savings account.  

*Exchange rate as of 12/2007