KMFB announces acquisition by FINCA

Kashf Microfinance Bank Limited (KMBL), one of the leading
Microfinance Institutions of Pakistan, announced an equity injection
of PKR 824.7 million by FINCA Microfinance Cooperatief U.A. With this
transaction, FINCA becomes the majority shareholder of KMBL, acquiring
82.8 percent of the shares.

FINCA, one of the world's leading global microfinance networks,
operates in 21 countries on 5 continents, serving nearly one million
clients. FINCA provides financial services to the world's
lowest-income entrepreneurs so they can create jobs, build assets and
improve their standard of living. Their work focuses on reducing
poverty by creating employment and raising family incomes.


Speaking at a ceremony in Islamabad to mark the occasion, M. Mudassar
Aqil, CEO of KMBL, characterized the transaction as an ideal match of
FINCA's global reach with KMBL's local depth. FINCA's President and
CEO Rupert Scofield described the acquisition of KMBL as the ideal
pathway into Pakistan for FINCA, given the two institutions' shared
mission and values, and the technical skills of the local team.

The commemoration ceremony took place at Serena Hotel, Islamabad and
was a well attended event with representatives from State Bank of
Pakistan, Security Exchange Commission, Microfinance Institutions,
Commercial Banks, Donor agencies, NGO's and other dignitaries



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