SUNDAY September 5, 2010  
   
News:
August 11, 2010, Khushhalibank successfully completes 10 years of micro-finance banking in Pakistan. Ghalib Nishtar, President Khushhalibank, expressing his views on the occasion said, "Today, we have made our contribution by making a difference in hundreds and thousands of lives across the country by providing financial service access to the unbanked segments of the population."                April 19, 2010, Khushhalibank held its Annual Sales Conference at PC Bhurban to review the performance for the year 2009. The conference was chaired by Ghalib Nishtar, President, Khushhalibank and attended by all Departmental Heads and the Retail Unit from the Corporate Office, and Regional Business Managers and Territory Portfolio Managers from their respective Regions.                  February 16, 2010, Khushhali Bank in collaboration with American Business Council has given the first 20 cheques to the affected traders of Bolton Market under 'Bolton Market - Business Revitalization Program' of USAID in a ceremony held in Karachi. Khushhali Bank is managing the process of grant disbursement of USAID's funds of PKR 1 billion for the program.                  Islamabad, 21st November 2009, Khushhali Bank participated in the 3rd International Microfinance Forum 2009 which was inaugurated by the Governor, State Bank of Pakistan, Syed Salim Raza. Khushhali Bank was one of the main sponsors of the conference which witnessed huge attendance by delegates from both the public & private sector.                  August 11, 2009, Khushhali Bank celebrates its ninth anniversary to acknowledge the contribution and hard work of its employees, while resolving to make its clients a priority and rejoicing the unprecedented success of past nine years.                  Khushhali Bank Limited re-constitutes its Board of Directors for a term of three years. Syed Ali Raza, President, National Bank of Pakistan, being the chairman, the new Board of Directors consists of seven members, four representing the share holders three non share holding Independent Directors.                 
 
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The objective of Small Infrastructure Projects (SIP’s) was to increase access of poor communities to infrastructure for improving their livelihoods through efficient and productive use of local resources. For this purpose a Community Investment Fund (CIF) was established to finance the Small Infrastructure Projects through participatory process. The involvement of local stakeholders in identifying, planning, executing & monitoring community infrastructure projects greatly empowered them, especially the women. Sharing based process leading to sub-project investment, maintenance & use, enhanced social capital through the formation of cohesive community organizations which were effectively used to deliver microfinance services. 

The Small Infrastructure Projects were undertaken on equity participation of 40% from the Community Organization against the total project cost while 60% cost was funded through the Community Investment Fund (CIF). A Service Provider was engaged to work on technical side of the projects and as a result 1569 SIP’s were completed during the period of Fund. These projects include Roads & Bridges (122), Farm irrigation (689), Domestic Water Supply (164), Drainage & Sewerage (27), School Building (49), Rural Electrification, Computer Centers, PCO’s and Community Halls (518).

* During 2006; the Government of Pakistan decided to establish an Emergency Livelihood Restoration Fund (ELRF) in order to respond to the aftermath of the earthquake in Pakistan on October 08, 2005. For financing ELRF, the State Bank of Pakistan transformed the CIF into ELRF. Consequently entire funds of CIF Income Account were diverted to ELRF. In view of the above, the CIF has ceased its operation, effective April 04, 2006.
 
 
 
 
 
 
 
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