Geneva, Switzerland, 27 December 2008 – The Aga Khan Agency for Microfinance was pleased to note that two of its institutions, First MicroFinanceBank-Pakistan (FMFB-Pakistan) and First MicroFinanceBank-Tajikistan (FMFB-Tajikistan), were ranked among the top-100 microfinance institutions by the Microfinance Information Exchange, Inc. (MIX), the microfinance industry’s leading source of information.
FMFB-Pakistan’s performance was particularly strong, ranking 7th overall. The rankings are based on the data of a sample of 652 microfinance institutions for calendar year 2007. Last year, FMFB - Pakistan was ranked 14th in the 2007 MIX Global 100 Composite Rankings.
As a global network, the Aga Khan Agency for Microfinance is represented twice in the list of top 100 MFIs with FMFB-Tajikistan ranking 92nd.
The MIX 2008 Global 100 Composite Ranking presents 100 leading microfinance institutions, out of a sample of 652 that are profitable and top performers for the balance of results achieved among three key attributes: outreach, efficiency, and transparency. When each of these areas is viewed as a goal of microfinance, this ranking measures the balance achieved by an individual MFI, relative to the other MFIs considered for the ranking.