[Aug 18, 2018] First MicrofinanceBank Limited and BenchMatrix are progressing ahead towards the automation of the Bank’s Anti-Money Laundering initiatives with the help of implementing Risk Nucleus® Anti-Money Laundering (AML) system.
The First MicroFinanceBank Ltd, Pakistan (FMFB-P) was established in 2002 as a nation-wide microfinance bank, licenced by the State Bank of Pakistan. FMFB-P was created through a structured transformation of the credit and savings section of the Aga Khan Rural Support Programme’s (AKRSP), an integrated development programme to pioneer the microfinance sector in the country since 1982 in Gilgit-Baltistan and Chitral. FMFB-P was established with the mission to respond to poverty and contributes to the social and economic well-being of society by providing opportunities to thousands of under-privileged households. Through targeted financial and multi-sectoral products and services based on the evolving needs of the poor, FMFB-P enables its clients to strengthen their entrepreneurial base and build financial, physical and human capital to secure their future.