FIRST PRIVATE MICRO CREDIT BANK TO OPEN IN NOVEMBER - 2001-09-20

<>Dawn.com<>KARACHI reports that 'The first private sector micro financing institution is being set up by two Aga Khan institutions with a capital base of Rs500 million and is likely to start functioning from November. All ground work has been done, formalities completed and even a consent has been obtained from the State Bank of Pakistan for the chief executive and directors on the board of the Aga Khan Micro Finance Bank. The sponsors are now just waiting for the promulgation of the ordinance. Complete article by By Sabihuddin Ghausi