Khushhalibank (KBL) today celebrates its 11th anniversary. It has been an extraordinary span of time as KBL has been a catalyst to change in the ground rules for micro financing in Pakistan in the last decade. The bank celebrates its anniversary with a resolve to take on new challenges and set higher milestones as a pioneer in microfinance banking in Pakistan. The journey started eleven years ago in August 2000 with the intent of developing a new space within the financial services industry through mainstreaming microfinance for greater financial inclusion, and with a mission of being a strong relationship bank serving the needs of the vast un-served and rural population of the country. Today, the bank has made significant contribution by empowering hundreds and thousands of lives across the country by helping them set up and expand businesses by providing them access to financial services. Reflecting on the history as an institution, Ghalib Nishtar, President, Khushhalibank, cites several milestones surpassed in spite of challenging environment over a decade.  “We have managed to maintain our focus on the double bottom line agenda of financial access to an array of products and services to the un-served segment of the market all across Pakistan with a level of commitment and dedication while remaining focused on Institutional sustainability.”

As the largest microfinance bank in the country celebrates its 11th anniversary, it has reached several important milestones and launched many products and services to benefit the low income segment of the society. The bank has undergone a successful transition from a purely micro credit institution to the launch of full scale banking services. It is the first microfinance organization of the country to introduce international inbound remittance services in 76 districts across Pakistan through a collaborative framework with a leading International franchise. Recognizing the role women play in economic uplifting of the society KBL introduced various socio-economic empowerment programs for women in the far fledged corners of the country in the last decade intended to support skill & development of micro enterprise amongst the women of remote areas. Keeping in view the objective of reforming lives and rebuilding communities through various financial services KBL collaborated with Government of Pakistan and multilateral agencies at several occasions when the country faced a natural disaster or conflict and provided immediate assistance and relief to the affected communities and businesses throughout the country. Giving great importance to the role of education in increasing economic growth and reducing poverty at the grassroots level, KBL introduced its scholarship programme in the leading universities of the country for deserving students of marginalized areas of Sind, Baluchistan and Federally Administered Tribal Areas (FATA). The bank has also introduced a series of programs to educate people on the various benefits of microfinance for economic empowerment across Pakistan.

Commenting on the role of microfinance services to promote entrepreneurship in Pakistan, Ghalib Nishtar stated “Our branch network throughout Pakistan is playing a key role in reaching out to the aspiring entrepreneurs. Entrepreneurs are largely an untapped population of the micro-finance market which can play a significant role in stabilizing our economy provided they get access to financial services.