LONDON, Oct. 03, 2022 (GLOBE NEWSWIRE) — The €9.4 million financing facility for the Kashf Foundation was created, structured and negotiated by Emerging Markets Global Advisory LLP (EMGA), the investment bank for emerging markets.
Speaking of transaction, Mr Shahzad IqbalCFO of Kashf Foundation, said: “Kashf Foundation is registered as a Non-Banking Micro Finance Company and is regulated by the Securities and Exchange Commission of Pakistan. Founded in 1996 as Pakistan’s first dedicated microfinance institution, it began operations as a Grameen replicator and since then, Kashf has successfully carved a distinct and unique niche in Pakistan’s microfinance sector by providing a range of innovative and transformative products and services to low-income households, particularly to Women. It has a current reach of over 600,000 female borrowers across its 360+ branches with a GLP of over $90 million.”
“Just to share that it has always been a pleasure working with EMGA on new transactions to expand our network and reach. This is the first transaction that we carry out with BIO, and that too in euros. I believe BIO and Kashf will work together and build a strong relationship to improve financial inclusion in Pakistan and especially for women. This transaction will help the Kashf Foundation expand its reach not only in its existing areas of operations, but also in new geographic regions across Pakistan.”
Emerging Markets Global Advisory LLP (EMGA)‘s Managing Director and Head of Investment Banking Sayeev Chakkalakal said, “It has been our pleasure to continue our long-term partnership with Kashf Foundation and to offer this new funding solution despite the volatile economic environment both in Pakistan and globally.” The managing director of Emerging Markets Global Advisory Limited (EMGA) also commented on the transaction Jeremy Dobson said: “It has been a real pleasure to be back with the Kashf Foundation on this latest…
