According to notice to the Pakistan Stock Exchange (PSX), the HBL board has approved an Equity Investment of up to Rs. 6 billion in its subsidiary namely HBL Microfinance Bank Ltd (HBL MfB), in compliance with all regulatory requirements and the approval of the shareholders of the Bank. The HBL Microfinance Bank Ltd (HBL MfB), was established in 2002 as a nationwide microfinance bank, licensed by the State Bank of Pakistan. HBL MfB was created through a structured transformation of the credit and savings section of the Aga Khan Rural Support Programme (AKRSP), an integrated development programme to pioneer the microfinance sector in the country since 1982 in Gilgit-Baltistan and Chitral.