Forward Microfinance Laghubitta Bittiya Sanstha Limited

Forward Community Microfinance (FOWAD) began as a grassroots microfinance NGO in Nepal in early 2000s, with initial operations inspired by the model of Grameen Bank in Bangladesh.Over time, to scale operations and meet regulatory frameworks, it was reconstituted as a formal microfinance company. Legally established under company law in September 2012 (2069-Bhadra-28), the institution obtained its microfinance license from the central bank and commenced formal operations in May 2013. Since then, FOWAD has expanded its services offering micro-loans, deposit products (savings), remittance support, micro-insurance and other financial-inclusion services aimed at low-income households, small enterprises, and underserved rural or peri-urban communities across Nepal.Under the leadership of Ramdayal Rajbanshi the current Chief Executive Officer (CEO) of FOWAD the institution has focused on strengthening outreach, improving financial inclusion, and maintaining transparent governance standards. With a network of branch offices and a management team including a Deputy CEO and heads of various departments (audit, HR, credit, recovery, IT etc.), FOWAD aims to deliver convenient microfinance services to vulnerable populations that traditional banking often overlooks.FOWAD’s commitment to its mission is reflected in its financial operations and public disclosures: regular balance-sheet reporting, deposit & loan portfolios, and regulatory compliance key for credibility in Nepal’s microfinance sector.Its loan-lending model includes both group-lending (inspired by Grameen-style solidarity groups) and individual lending (collateral- or non-collateral-based), allowing flexibility depending on clients’ needs.