FINCA Afghanistan launched in 2003 to help the country recover from war and political instability. The institution disbursed its first loans in Herat Province through the group lending model. In 2007, FINCA Afghanistan opened its first branch in Kabul. It disbursed its first individual loans in 2011 and now offers a range of individual loan products while continuing to serve credit groups.
FINCA Afghanistan now serves more than 25,000 clients through a network of 21 branches and growing digital channels. It has a gross loan portfolio of nearly $16 million, making it the second-largest microfinance institution (MFI) in the country.
The institution offers a range of responsible financial services including small- and medium-enterprise (SME) loans, agriculture loans and Sharia-compliant loans, including the Women Murabah Group loan, which finances business activity by women. FINCA Afghanistan was the first MFI in the country to offer Sharia-compliant loan products.
Female clients make up nearly 60% of the client base in a country where only 7% of adult women have a bank account. In March 2018, FINCA Afghanistan opened its Women Special Branch where an all-women clientele is served by an all-women staff. The branch has contributed to financial inclusion by reaching out to women on their terms and creating a space for women entrepreneurs to share experiences and opportunities.
In July 2018, FINCA Afghanistan officially launched digital field automation (DFA), a paperless process that allows clients to open an account or apply for a loan in less than 30 minutes. By equipping customer relationship officers (CROs) with tablets that transmit client data electronically, DFA has led to greater efficiency and speed in serving clients.
Throughout its 14 years of operation FINCA Afghanistan has demonstrated a commitment to serving the people most in need of financial inclusion. In addition to credit, clients receive training on how to manage their finances and grow their businesses. Moreover, the institution’s innovative approach has brought greater efficiency and allowed the institution to reach more people in more regions of the country.
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