Almaty Hosted Forum of Microfinance Organizations of Kazakhstan

 

A major event not only in history of the Association of Microfinance Associations of Kazakhstan (AMFOK) but also of microfinance sector of the republic took place in spring 2019. Thus, on 26 April 2019, , Almaty hosted a forum of microfinance organizations dedicated to the 15th anniversary of AMFOK. The event was initiated by AMFOC under the auspices of First Credit Bureau.

 

 

 

 

Invited persons included all microfinance organizations entered to the register of the National Bank of Kazakhstan and also representatives of other financial sectors and organizations which cooperate with AMFOK and microcredit sector. Representatives of the Association of Financiers of Kazakhstan, Damu Fund, National Bank of the Republic of Kazakhstan, Kazakhstan Association FinTech, Association of Credit Partnerships, Association of Lombards have attended the event as invited guests to the forum. 99% of the registered participants appeared at the forum which confirms high interest in activities of microfinance organizations.

 

Subjects of the form were defined given awareness of participants of the microcredit market about new opportunities to provide services in a digital format, planned amendments to laws related to microfinance organizations and also other relevant topics  on the agenda faced by the microfinance sector.

 

At the beginning of the forum, participant of AMFOK Board of Directors Shalkar Zhussupov spoke with an opening speech. Further, AMFOK Director Omarkhanov Yerbol has presented a new logo of the Association and site developed given an upgraded format of AMFOK activities. It is also necessary to mention program Credit Aggregator, which is interesting and useful for microfinance organizations and their borrowers. integrated into AMFOK web-page. This program will allow the borrowers to search services of microfinance organizations and choose financial products with conditions directly at one spot via an information resource of the Association. More details about the credit aggregator were presented by Executive Director of ne.Bank.kz in his speech. The company has developed this unparalleled IT product.

 

Konstantin Pak from the Association of Financiers of Kazakhstan told about innovations in legislative regulation of digital technologies.

 

Further, an interesting report about history and international experience of microfinancing was presented by Zhanna Zhakupova, Executive Director of Asian Credit Fund MFO. The speaker has highlighted that despite new opportunities of provision of microfinance services in digital format, it is necessary to maintain a social mission of microfinancing as a main foundation of activities of microfinance organizations.

 

Representative from OneTechnologies told about a product called OneWallet operating on the principle of e-wallets which will streamline and make cheaper process of issue and maintenance of microcredits and will provide an opportunity to make available almost risk-free on-line loans.

 

Director of OnlineKazFinance MFO told about FinTech in business models of the MFO given practical experience of its company on the market of on-line lending services.

 

Chief executive of Apex Department at Damu Fund, Nazym Kydrali has informed the participants about programs of MFO financing and loan guaranteeing.

 

Speaker of the forum, member of the Management Board/ Managing Director for Business Development of KASE, Kairat Turmagambetov spoke about possible participation of MFOs on formal securities market given available legislative opportunities. Olzhas Kundakbayev has presented payment solutions from SmartPay founded and led by him.

 

Other speakers of the forum were Irina Sukhorukova, Director of SanskrIT, who presented an interesting IT product for MFOs called Automated Credit Factory. Forum moderator, Executive Director of First Credit Bureau Assem Nurgaliyeva spoke about credit scoring of Beeline, operator of mobile communication.

 

After forum, in the afternoon, members of the Association held a General Meeting where they elected the Board of Directors for a new tenor and also took decisions on other matters of activities of the Association.

 

In the evening, members of the Association had an opportunity to communicate in an informal and friendly environment at a gala dinner.

 

 

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