NRSP launches microfinance bank

KARACHI: The National Rural Support Programme (NRSP) has launched a fully regulated, deposit taking privately owned microfinance bank.The bank licensed by the State Bank of Pakistan will operate nationwide—in partnership with Acumen Fund, International Finance Corporation and Kreditanstalt fur Wiederaufbau (KfW) as shareholders.The bank’s mission is to reduce poverty by providing low-income rural farmers with timely access to essential financial services such as such as crop and livestock loans on simple and affordable terms, as well as deposit products to encourage savings, enabling economic well being. – Dailytimes