Grameen Jameel

First Microfinance Institution – Syria (FMFI-S)

Grameen-Jameel in SyriaFMFI-S is the first microfinance institution in Syria to receive the Social-Banking Financial Institution (SBFI) license awarded by the Central Bank under the new regulatory framework announced in 2007. It was established by The Aga Khan Development Network (AKDN) along with three Shareholders KfW, EIB, and IFC.

As of March 2012, FMFI-S serves 27,210 clients. FMFI-S is the first Institution to provide microfinance services in Syria and it is the largest in terms of loan portfolio and number of clients.

Grameen-Jameel has worked with FMFI-S in 2008 when it obtained the first of two consecutive guarantees to obtain USD 7.4 million in local-currency financing. In 2011, FMFI-S participated in a training led by Grameen-Jameel on how to deploy the Progress out of Poverty IndexT (PPIT) to help them measure their social performance.

For further information on FMFI-S, please refer to their website: www.akdn.org/akam_syria.asp