The State Bank of Pakistan has issued licence to Kashf Microfinance Bank Limited which will commence its operations with effect from 27th October, 2008. Kashf Microfinance Bank Limited will offer a variety of financial products/services including savings, loans, remittance, ATM network etc to untapped poor who lack financial access.
It plans to reach out to over one million savers and 350,000 borrowers through a network of 100 nation-wide branches up to 2012. It will be the seventh microfinance bank in the country. The six microfinance banks which are operating in Pakistan are: Khushhali Bank Limited, The First Microfinance Bank Limited, Tameer Microfinance Bank Limited, Pak Oman Microfinance Bank Limited, Rozgar Microfinance Bank Limited and Network Microfinance Bank Limited.-PR