FINCA Kyrgyzstan - Sustainable financial services for low-income Kyrgyz entrepreneurs
Sustainable financial services for low-income Kyrgyz entrepreneurs
FINCA Kyrgyzstan provides financial services to low-income entrepreneurs to help improve their financial security and standards of living. FINCA Kyrgyzstan is headquartered in Bishkek, the capital, and operates in all provinces of the country. It has at least a couple of full-scale branches in each province.
Thanks to a widespread and extensive network of distribution channels this microfinance institution (MFI) has a wide outreach to people who have no access to finance.
FINCA Kyrgyzstan and Oikocredit have been partners for over ten years. FINCA offers clients a wide range of products, including group solidarity and individual loans. In the last few years, greater focus has been put on financial literacy to mitigate the risks of client over-indebtedness. The MFI has conducted financial awareness training sessions for thousands of clients.
In 2015, after two years of preparations, FINCA Kyrgyzstan obtained a banking licence. This will further enhance the organization’s capacity and growth potential. The bank can now start offering, for instance, savings products, and generate new income from banking services.
FINCA Bank has a strong social focus and is keen to set up and develop a good performance management system. In 2014 the bank received the prestigious SMART Certificate indicating full compliance with the client protection principles (CPPs). Among other measures, the bank uses a credit bureau to screen applications and avoid multiple borrowing and over-indebtedness.
FINCA Kyrgyzstan has been an Oikocredit partner since 2007.Download this project as a PDF