HBL Microfinance Bank (HBL MfB) has announced the appointment of Maya Inayat Ismail as the new Chairperson of its Board of Directors. This leadership transition marks the conclusion of Rayomond H. Kotwal’s tenure as Chairman, a period that saw significant strides in advancing financial inclusion across Pakistan. Maya Inayat Ismail’s appointment as the first woman to chair an Aga Khan Fund for Economic Development (AKFED) institution signals a major milestone for the bank and reflects its commitment to breaking leadership barriers.
Maya Inayat Ismail is no stranger to HBL MfB. She was an integral part of the core strategic team behind the creation of its predecessor, First MicroFinance Bank (FMFB), which was Pakistan’s first microfinance bank. Through this initiative, she helped realize the vision of His Highness the Aga Khan to provide financial services to underserved communities, creating greater access to economic opportunities for the underbanked.
Having served as a member of HBL MfB’s Board since 2016, Maya Inayat Ismail has already made significant contributions to the bank, particularly as Chair of the Financial and Risk Committee (FISC). Her experience in the financial services sector spans over 25 years, with a focus on financial institutions, managing strategic partnerships, and formulating strategies that address the needs of grassroots communities.
In a statement, Rayomond H. Kotwal, the outgoing Chairman, expressed pride in his time at the helm of the bank and extended his best wishes to Maya Inayat Ismail. “It has been an honor to serve as Chairman of HBL Microfinance Bank. I am proud of the progress we have made in driving financial inclusion across Pakistan. I am confident that Maya Inayat Ismail’s leadership will bring a new era of innovation to the Bank,” Kotwal said. His leadership has helped set the stage for HBL MfB to continue its impactful work under the new chairperson.
Sultan Ali Allana, Chairman of HBL, also praised Maya Inayat Ismail’s appointment, highlighting her expertise and unwavering commitment to financial inclusion. “Maya Inayat Ismail’s leadership will enable HBL Microfinance Bank to continue addressing the financial needs of underserved communities in Pakistan. She is the first woman to take charge of an AKFED institution, which is a testament to our commitment to diversity and leadership excellence,” Allana remarked.
Maya Inayat Ismail, expressing her gratitude for the opportunity, said, “I am deeply humbled to take on the role of Chairperson at HBL Microfinance Bank. This is a full-circle moment for me, having been part of the bank’s journey for over two decades. I am committed to building on the strong foundation laid by Rayomond H. Kotwal and leading the bank into its next phase of growth, empowering individuals and transforming communities through financial inclusion.”
Founded in 2002, HBL Microfinance Bank was the first private sector microfinance bank in Pakistan, licensed by the State Bank of Pakistan. The bank was established following the transformation of the Aga Khan Rural Support Programme (AKRSP) credit and savings section, marking the beginning of its journey to offer microfinance services. Today, HBL MfB serves over 4 million customers through 225 locations