The First MicroFinanceBank Tajikistan celebrated 10 years of working in Tajikistan at an event on 19
th
May 2014. The event was attended by senior dignitaries from the National bank of Tajikistan, Ambassadors of various Embassies, Heads of International Development Agencies, Customers and Board members.
The Bank was established in 2004 initially with the principal focus on microcredit lending and with a national mandate to provide a comprehensive range of financial services to the people- with the aim of reducing poverty in Tajikistan. KfW, IFC, Aga Khan Agency for Microfinance, Switzerland, and Aga Khan Foundation, Tajikistan are the shareholders.
Since the Bank’s inception in 2004, it has faced many challenges to sustain its country-wide network with a strong commitment to reach people with limited access to finance. Over the past few years, the Bank’s strategic outlook has been driven by a larger focus on sustainability, staff development, productivity, technological upgrades, rationalizing interest rates and market growth. This has allowed it to weather many challenges in managing a wide network in regions with low or limited market potential. With 7 Branches and 28 Banking Service Centers across Tajikistan coupled with a variety of innovative products and services, the Bank has continuously maintained a country-wide presence in the remotest of places with a strong commitment to make a positive impact on the local economic development and quality of life of the people.
Today FMFB Tajikistan is a full-fledged bank servicing SME clients as well as Micro Finance customers, offering a variety of lending and deposit products, handling FEX transactions, Cards and serving Remittance customers. The Bank’s dedicated management and staff, loyal customer base and reputation for being reliable, trustworthy and transparent have strongly contributed towards reaching this goal. The Bank has firmly established its presence in Tajikistan with a positive outlook for the future.
In the coming years, the Bank aims to achieve better outreach, increase its micro finance portfolio and provide a full range of commercial banking products and services to its clients across Tajikistan. It plans to achieve a diverse and large deposit base and promote its SME and Corporate Banking business. The Bank is strongly committed to its core values of Integrity, Transparency, Dependability, Sustainability, Professionalism and Customer Service.
On this important milestone the Chairman, Mr Salim Jiwani re-dedicated the Bank to another 10 years of service to the nation and to the customers. The CEO, Mr Yenten Lama, thanked the customers who remain the main reason for the Bank’s existence and whose loyalty has helped the Bank grow. He thanked the Government and the National Bank for Tajikistan for their continuous support and guidance.. He also expressed gratitude to the Shareholders, Board of Directors and the Partner Institutions for their dedication and commitment. Finally, he thanked the staff for their unwavering dedication and professionalism in making FMFB grow and prosper.
