How does Arvand begin?
What is MicroInvest?
It is one of the leading microfinance institutes of Tajikistan.
Since its establishment in 2002 in a framework of Fergana Valley Regional Microlending Project, implementing by the Representation of ACDI/VOCA in Tajikistan, fund directs all its efforts for achievement of understanding satisfaction of requirements and expansion of mutually advantageous cooperation with clients.
Small loans provided by Fund on unsecured basis give the opportunity to low-income families and entrepreneurs to increase their income and conditions of living. Nowadays MLF “MicroInvest” conducts its activity in Khujand, Chkalovsk, Kairakkum, Gaffurov, Isfara, Istaravshan, Kanybadam, Nay, J. Rasulov, Mastcho, Shahristan, Zafarobod, Ganchi, Tursunzade, Rudaki, Gissar regions.
History of “MicroInvest”
The Center of Support and Development of Micro-entrepreneurs (МДТМ),has been created by International Organization ACDI/VOCA in 2002, in a framework of Fergana Valley Regional Microlending Project. ACDI/VOCA concluded a corporate agreement with United States Agency on International Development (USAID) in October 2001 for implementation and management of Project within the framework of program on Stabilization of Food Security. Initially, the project was for 4 years, but has been prolonged till July 31, 2006.
In March 2002 ACDI/VOCA has finished the process of hiring and training of the personnel and on March 31st, the first loans have been disbursed to five groups in Khujand . Only 12 employees have been working into the project at that moment. Methodology, which ACDI/VOCA used in development of the local organization, was established on the ground of two successful programs of ACDI/VOCA implemented into the Central Asia:
Kazakhstan Loan Fund (KLF), www.kclf.kz;
Financial Fund Bai Tushum (FFВТ) in Kyrgyzstan, www.baitushum.kg;
In January 2003 MDTM has been officially registered as public association in regional level of Department of Justice in Sogd Area.
MDTM has opened sub-offices in deferent regions of Sogd area. First sub-offices had been opened in Nay of Spitamen region and Proletarsk of J.Rasulov region in January 2003. In August 2003 the sub-office in Istaravshan city has been opened. In February and December, 2004 sub-offices in Buston of Mastcho region and in Isfara city have been accordingly opened.
With the adoption of law "About the microfinance organizations" in April 2004 MDTM face a question of re-registration and ACDI/VOCA made a decision that ACDI/VOCA as the exclusive founder will create Microloan Fund “MicroInvest”. All necessary documents for registration have been prepared and submitted to the Ministry of Justice at the end of February and on March, 2nd 2005 Microloan Fund “MicroInvest” has been officially registered.
Goals and objectives of MicroInvest
The goal: Increase of a standard of living of the population, creation of new possibilities for social and economic development of society providing high quality financial-technical services to entrepreneurs of Tajikistan.
The object: Strengthening in the conditions of an increasing competition, its leading position by means of providing of various credit products under security and on unsecured basis by using a methodology of group and individual crediting, expansion of geography of work and the innovative approach to work.
Advantages of "MicroInvest"
Experience and practical knowledge in microfinance sphere, business development, agriculture and jurisprudence;
The high quality standards of services;
Understanding of specific features both Tajik and international business culture;
Constantly updating credit products and innovative approaches;
Services, directing on effectiveness and reduction of time and financial expenses of a Client;
Individual, even at group crediting, approach and support of long-term relations with each Client.
Founder and Board of Advisors:
In March 2008 a meeting of founders of Microcredit Deposit-taking Organization (MDO) “MicroInvest and Partners” has taken place. Founders were MLF “MicroInvest “ Tajikistan and LLC MCC “Frontiers” Bishkek, Kyrgyzstan. The representative of LLC MCC “Frontiers”, General Director, Ulugbek Buhtiorovich Khusanov, and representative of Board of Advisors of MLF “Micoinvest” Sanoat Lutfullaevna Fatullaeva took part in that meetin. Thus, the process of registration of commercial organization has begun. The size of investment from LLC MCC “Frontiers” has made 1 million dollars.
Step into MDO “Arvand”
On 27.02.09, in pursuance of the law of the Republic of Tajikistan “About language”, Limited Liability Company Microcredit Deposit-taking organization “Microinvest and Partners” has been reregistered into LLC MDO “Arvand» In translation from Tajik, “Arvand” means “strong, capable”.
Meaning of logo:
The structure of an emblem in the form of the Rhombus - underlines an organization accessory to financial institution. Emblem elements - the rhombuses reflected on increase in the top - mean step-by-step increase in the amount of the credit for entrepreneurs from small to big ones, the rhombuses reflected in the bottom part - growth of contributions (deposits) from small to big. Rather light tones of colour of a sea wave in the bottom part of a rhombus in comparison with the top symbolize a financial transparency of the organization.
The given graphic representation visualizes the following meaning: Arvand, represented in the centre of the rhombus, serves the support for its clients – microentreprenuers and its microfinance program promote to their growth to business tops. For clients into the sphere of savings services– “Arvand” is that centre which involves partners-clients thank to persistent support of their trust and observance of transparency. These factors allow our partners to make adequate appraisal and to extend their investments into the organization, thus taking root in the sphere of financing and promoting strengthening their well being.
Founders:
MLF “MicroInvest”
«FRONTIERS»