2003: Founded FINCA in Tajikistan
In 2003, FINCA International launched its program in Tajikistan. The Pilot Program was launched in the Khatlon Oblast in the city of Kurgan-Tyube, where was given out the first loan in October of 2003. Hereinafter, branches were opened in Shahrituz, Rumi, and A. Jomi. If at the year of launching FINCA Tajikistan had only 19 customers, then later in 2019, company is already trusted by more than 25 thousand customers.
2006 Development: Creation of Microcredit Deposit Organization FINCA LLC
For development purposes, in early 2006, the FINCA International Inc.transforming process started where the FINCA Microcredit Deposit Organization Limited liability company was established, which has a wide sector of services. In particular, it became possible to carry out operations such as attracting deposits, currency exchange, money transfers, etc.
2010: Expansion of the Branch Network in SugdOblast
For developing a branch network and providing access of population to banking services, MDO FINCA expanded its presence by opening new offices in the SugdOblast. In new offices, along with the other FINCA divisions, a basic list of banking services is provided.
2011: New Products Introducing
The New Loan Products Introduction, such as loans in US dollars, small and medium-sized loans (SME), express loans, as well as the launch of money transfers, allowed MDO FINCA to reach a new level in the banking servicesprovision
2011: 20 000 active customers
In 2011, the Company reached a growth of its client portfolio of 20,000 active customers, which indicates our customers trust of using the MDO FINCA services and allows us to take 2ndplace in the number of customers among more than 100 current operating microfinance institutions in Tajikistan. This achievement encourages our company to further improving the quality of services provided and the level of customer services.
2012: Reaching the company milestone of 10 million US dollars
The MDO FINCA loan portfolio has reached a historic milestone – 10 million US dollars! This indicator was officially registered on February 10, 2012.
2013: MDO FINCA celebrates its tenth anniversary
MDO FINCA celebrates its 10th anniversary of financial activity in Tajikistan. During this period, the Company managed to gain the confidence of a large number of customers and improve the quality of the services and products provided.
2013: Brand of the Year Award
MDO FINCA received an award in the National Competition “Brand of the Year” under the name “Peak of Glory” – which was held by the Ministry of Economic Development and Trade of the Republic of Tajikistan. The Company recognition by the “Peak of Glory” means that MDO FINCA is recognized in Tajikistan and has a good development trend and trust from the population.
2013: Transition to a new operating system
MDO FINCA successfully migrated to the new FlexCube operating system, which allowed expanding the range of the provided services. FlexCube system is a universal banking system, which is designed to work in a financial institution as the main accounting system.
2013: Deposit Products Launching
At this year, the deposit products launching in all branches of MDO FINCA was successfully completed. The savings mobilization makes it possible to sustain the growth of MDC FINCA, which in turn helps the Company to attract more investments for lending to entrepreneurs. Savings mobilization also contributes to the achievement of the Company’s social mission.
2013: Joining ABT
On March 2, 2013 MDO FINCA joined the Association of Banks of Tajikistan – ABT.
The Association of Banks of Tajikistan mission, unifying commercial banks system in Tajikistan, is to form a strong and responsible banking system. Membership in ABT is strategically important for FINCA Tajikistan, because now our company will be able to use the capabilities of the banking sector to conduct trainings, legal advice, support and lobbying on issues related to improving the financial sector regulatory framework of Tajikistan.
2014: Foreign Exchange Transactions Launching
In January 2014, MDO FINCA successfully launched foreign exchange transactions in its offices – which is another achievement for MDO FINCA
2016: Simplified Lending
For providing additional customer support, MDO FINCA introduced a new tool – simplified loans. Simplified lending is one of the tools designed to improve the quality of customer service through a quick and simplified lending process.
Simplified lending was implemented through the Call Center of the Head Office. This centralized approach has effectively reduced the time spent on loan application processing and loan issuance.
2018: 15thanniversary of the company
MAO FINCA celebrated its 15thAnniversary. Over the period of its activity in the Republic of Tajikistan, the Company has earned the trust of its customers through the provision of quality services and a high level of services. Anniversary was celebrated among customers and partners.