Kompanion Invest Microcredit Company received a certificate of the National Bank of the Kyrgyz Republic on compliance with Islamic principles of banking and financing (No. 352-4/534 dated July 22, 2016).

Established in 2011, Kompanion Invest Microcredit Company is a subsidiary of Kompanion Bank CJSC. The company operates under the Shari’a standards that do not allow imposing interest rates on loans. A client and the financial institution share profit and losses, while all transactions are based on Islamic ethical norms.

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The names of the first winners were released and on May 25, 2016 the Bank gave out plasma TVs and smartphones. 7 people received the presents, while 10 participants chose to refuse interim prizes to continue contending for the main prize– apartment.
“Several months ago I made a deposit with Bai-Tushum Bank in Bishkek. I did it without any specific hope as to win something, the only aim was to save money. I was pleasantly surprised when the Bank’s staff called and informed me that I won a plasma TV. It turns out that I save money and win a present my family needs. I am grateful to Bai-Tushum Bank for its finding an opportunity to make their clients happy in such challenging times”, – appreciates Kasym Bazaraliev.

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Global microfinance leader FINCA and First Access, whose technology predicts the credit risk of borrowers in informal markets, announced a new collaboration that will create the largest and most sophisticated alternative credit-scoring approach by a microfinance institution (MFI) in the world.  The partnership will vastly improve FINCA’s outreach to excluded populations.

First Access will analyze existing client data from FINCA’s operations, as well as subscriber data from local mobile network operators (MNOs), to establish credit scores for low-income clients who lack sufficient formal credit history to secure small loans to build businesses or support emerging personal needs.

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