FMFB Tajikistan was founded in August 2003, when it was officially registered with the Ministry of Justice of the Republic of Tajikistan. The Bank was issued a banking license in September of the same year. Microfinance Operations commenced on July 1, 2004, while the bank expanded into commercial banking activities in October, 2004.
The Bank is affiliated with the Aga Khan Development Network (AKDN) – a group of development agencies working in health, education, culture and rural and economic development, primarily in Asia and Africa. In fact, the bank was originally established to consolidate the operations of all the previous microfinance institutions run by other AKDN development agencies in the country like the Enterprise Support Facility (ESF) and credit program of the Mountain Societies Development Support Program (MSDSP). In the summer of 2007, the Bank acquired MSDSP’s remaining loan portfolio in Khatlon, thereby further consolidating the AKDN’s microfinance activities under one roof.
As a key investment of the AKDN in the long-term development of Tajikistan, the Bank continues to maintain a strong working relationship with agencies of the AKDN and various international agencies and NGOs working in Tajikistan to ensure that its operations are contributing to the overall development of the country.
Growth of the FMFB-T Network