Gilgit, Pakistan, 9 June 2024 – HBL Microfinance Bank (HBL MfB) inaugurated today its new Regional Headquarters for Gilgit-Baltistan. The ceremony was attended by Prince Rahim Aga Khan, Chair of the Executive Committee of the Aga Khan Fund for Economic Development (AKFED); Mr Sultan Ali Allana, Chairman, HBL; Mr Muhammad Nassir Salim, President & CEO, HBL; Mr Rayomond Kotwal, Chairman, HBL MfB; and Mr Amir Khan, President & CEO, HBL MfB.

The building underlines the Bank's commitment to sustainability, innovation and local community development. A blend of modern architecture and local cultural elements, the building meets some of the highest international standards of green construction. It has earned the LEED Gold certification and EDGE Advanced certification, one of the first buildings in the country to achieve this. The LEED Gold certification from the U.S. Green Building Council highlights the building’s superior performance in energy and water efficiency, sustainable site development and indoor environmental quality. The EDGE Advanced certification, granted by the International Finance Corporation (IFC), underscores the building’s commitment to resource efficiency, achieving significant energy and water savings. The building is well equipped to produce 40 percent of the electricity required for its day-to-day functions.

“The inauguration of HBL Microfinance Bank's Regional Headquarters Gilgit-Baltistan is a remarkable milestone for both the Aga Khan Development Network (AKDN) and the Bank,” said Prince Rahim Aga Khan. “It is a major step towards AKDN’s goal of achieving net zero by 2030. As we continue our journey to a better and more sustainable future, this building serves as a symbol of continued progress, sustainability and prosperity for the people of Gilgit-Baltistan.”

Mr Rayomond Kotwal, Chairman, HBL MfB, remarked: "The inauguration of our Regional Headquarters, Gilgit-Baltistan is a testament to our commitment to sustainable development and the well-being of the communities we serve. Gilgit holds a special place in the journey of HBL Microfinance Bank, as we started here more than two decades ago. This building is a symbol of our dedication to fostering economic growth while preserving the region’s environment. By integrating sustainable practices with local culture, HBL Microfinance Bank has set a new benchmark in environmental stewardship and corporate responsibility. We take pride in contributing to the development of the Gilgit-Baltistan region and look forward to continuing our support for all Pakistanis."

Mr Amir Khan, President & CEO, HBL MfB, added: "The flagship Regional Headquarters Gilgit-Baltistan exemplifies the strength, stability and resilience of Pakistan's best microfinance bank. The Regional Headquarters not only boosts our operational capabilities but also represents progress and hope for the Gilgit-Baltistan region. Throughout the project, particular attention was paid towards the area, which is why 27 percent of the total project cost was allocated to boost the local economy, through the onboarding of regional suppliers and the creation of employment opportunities."

About HBL Microfinance Bank:

HBL Microfinance Bank Ltd. was established in 2002 as the first private-sector 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, operating since 1982 in Gilgit-Baltistan and Chitral.

HBL MfB was established with the mission to respond to poverty and contribute to the social and economic well-being of society by providing opportunities to thousands of underprivileged households. Through targeted financial and multi-sectoral products and services based on the evolving needs of the poor, HBL MfB enables its clients to strengthen their entrepreneurial base and build financial, physical and human capital to secure their future.

For media inquiries, please contact:

HBL Microfinance Bank
Corporate Communications Department
Email: [email protected]