MISFA
Encyclopedia
The Microfinance Investment Support Facility for Afghanistan (MISFA) is a national microcredit
program in Afghanistan
. MISFA was launched by the Government of Afghanistan in June 2003 as a multi-donor microfinance
wholesale facility to build the microfinance sector of Afghanistan.
MISFA enables low-income earners in Afghanistan to have access to microcredit in order to generate income and meet their consumption needs. MISFA has been providing investment funds to a wide range of NGO-led microfinance institutions (MFIs) that are committed to providing financial services to the poor and vulnerable of Afghanistan.
The MISFA currently has about 15 partner MFIs that in turn provide a range of financial services in Afghanistan, including loans for income generation and enterprise development, savings services, and consumer loans to low-income people, particularly women. MISFA also serves as a source of training and technical assistance, as well as a mechanism for networking, sharing information, lobbying, and advocacy on behalf of the industry.
Major partner MFIs include BRAC
Afghanistan, FINCA Afghanistan
and Aga Khan Development Network
's Afghanistan Rural Microcredit Programme (ARMP).
SME Department at MISFA Afghanistan was created in 2006 last quarter with ARIES/USAID program and Technical Assistance provided by the Shore Bank International. The SME department at MISFA is aimed in providing credit lines, guarantee facilities and a broad range capacity building and technical assistance to the partner banks.
Currently the major SME partners are FMFB, BAL, BAB and OXUS MFI.
Mohammad Anwar Alvi is the SME Manager, Reshad Rasooly, Fraidoon Samim and Mohammad Hassan Ahmadi are the three Afghan SME Credit Analysts, the SME Credit Analysts are experts in training of the banks' loan officers, loan managers and supervisors, verification and audit officers and loan administration departments.
The department has so far trained 340 bank officers and managers on Character and Cash-flow based individual lending, Process, procedures and appraisal systems.
Microcredit
Microcredit is the extension of very small loans to those in poverty designed to spur entrepreneurship. These individuals lack collateral, steady employment and a verifiable credit history and therefore cannot meet even the most minimal qualifications to gain access to traditional credit...
program in Afghanistan
Afghanistan
Afghanistan , officially the Islamic Republic of Afghanistan, is a landlocked country located in the centre of Asia, forming South Asia, Central Asia and the Middle East. With a population of about 29 million, it has an area of , making it the 42nd most populous and 41st largest nation in the world...
. MISFA was launched by the Government of Afghanistan in June 2003 as a multi-donor microfinance
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
wholesale facility to build the microfinance sector of Afghanistan.
MISFA enables low-income earners in Afghanistan to have access to microcredit in order to generate income and meet their consumption needs. MISFA has been providing investment funds to a wide range of NGO-led microfinance institutions (MFIs) that are committed to providing financial services to the poor and vulnerable of Afghanistan.
The MISFA currently has about 15 partner MFIs that in turn provide a range of financial services in Afghanistan, including loans for income generation and enterprise development, savings services, and consumer loans to low-income people, particularly women. MISFA also serves as a source of training and technical assistance, as well as a mechanism for networking, sharing information, lobbying, and advocacy on behalf of the industry.
Major partner MFIs include BRAC
BRAC (NGO)
BRAC, based in Bangladesh, is the world's largest non-governmental development organization. Established by Sir Fazle Hasan Abed in 1972 soon after the independence of Bangladesh, BRAC is present in all 64 districts of Bangladesh, with over 7 million microfinance group members, 37,500 non-formal...
Afghanistan, FINCA Afghanistan
FINCA Afghanistan
FINCA Afghanistan is a nonprofit microfinance organization and an affiliate of FINCA International. Its headquarters is based in Kabul, Afghanistan.-Background and history:...
and Aga Khan Development Network
Aga Khan Development Network
The Aga Khan Development Network is a group of private, non-denominational development agencies that seek to empower communities and individuals to improve living conditions and opportunities, in sub-Saharan Africa, Central and South Asia, and the Middle East...
's Afghanistan Rural Microcredit Programme (ARMP).
SME Department at MISFA Afghanistan was created in 2006 last quarter with ARIES/USAID program and Technical Assistance provided by the Shore Bank International. The SME department at MISFA is aimed in providing credit lines, guarantee facilities and a broad range capacity building and technical assistance to the partner banks.
Currently the major SME partners are FMFB, BAL, BAB and OXUS MFI.
Mohammad Anwar Alvi is the SME Manager, Reshad Rasooly, Fraidoon Samim and Mohammad Hassan Ahmadi are the three Afghan SME Credit Analysts, the SME Credit Analysts are experts in training of the banks' loan officers, loan managers and supervisors, verification and audit officers and loan administration departments.
The department has so far trained 340 bank officers and managers on Character and Cash-flow based individual lending, Process, procedures and appraisal systems.
Related external links
- Microfinance Investment Support Facility for Afghanistan (MISFA)
- Afghanistan Rural Microcredit Programme (ARMP)- part of Aga Khan Development NetworkAga Khan Development NetworkThe Aga Khan Development Network is a group of private, non-denominational development agencies that seek to empower communities and individuals to improve living conditions and opportunities, in sub-Saharan Africa, Central and South Asia, and the Middle East...
(AKDN) - BRAC Afghanistan - part of BRACBRAC (NGO)BRAC, based in Bangladesh, is the world's largest non-governmental development organization. Established by Sir Fazle Hasan Abed in 1972 soon after the independence of Bangladesh, BRAC is present in all 64 districts of Bangladesh, with over 7 million microfinance group members, 37,500 non-formal...
- Afghanistan Microfinance Initiative (AMI) of CHF International