The Network’s goal is to deliver services along the continuum of financial needs in ways that help local and national economies grow, and, ultimately, help create stable financial institutions that contribute to the overall quality of life. [Read Financial inclusion]
The world of financial inclusion is changing rapidly today, with major new entrants, including social media companies, disruptive technology service providers, peer-to-peer networks, telecommunications companies, and commercial banks, among others. In this challenging landscape of specialisation and mass-market technology disruption, AKDN activities are grounded in understanding and responding – sustainably and ethically – to the needs and desires of critical segments of unserved clients. For this reason, the Network forges partnerships with other actors in the broader financial ecosystem to offer a range of products and services: from community-based savings groups to mobile banking, from microfinance institutions to corporate banking.More
Loans for income-generating activities – livestock, planting, trading or production – represent the largest proportion of loans provided by the Aga Khan Agency for Microfinance (AKAM). Lending activities directed to social sectors, including housing, education and health, help clients to meet their day-to-day needs. AKAM also supports small and medium enterprises to create jobs and increase economic activity. AKAM works in Afghanistan, the Kyrgyz Republic, Pakistan, Tajikistan, Egypt, Syria, Burkina Faso, Côte d’Ivoire, Mali and Madagascar.
To provide retail banking services and to help create strong and efficient capital markets in Central and South Asia and East Africa, the Aga Khan Fund for Economic Development has made a number of investments dating back to the 1930s. Investments include an interest in Habib Bank Ltd, Pakistan’s largest and oldest bank; the Diamond Trust Bank, which now has a presence in Kenya, Tanzania, Uganda and Burundi; DCB Bank in India, which has over 170 branches serving markets in several states in the country; Jubilee Insurance Group in Africa, which provides life, health and general insurance products in Kenya, Uganda, Tanzania, Burundi and Mozambique; and Jubilee Life and Jubilee General Insurance in Pakistan, which offer similar products. In Pakistan, Jubilee General and Jubilee Life are among the top insurers in the country.>