At present, FINCA is preparing itself to transformation into bank. In this relation, since 2013 the company carries out active process on analysis of banking market, development of deposit strategy, establishing of deposit products, recruiting and training of the staff.

For this work, FINCA received the international grant in a framework of the programme “Official Development Aid” from the Government of Austria. Funds were allocated through the Austria Development Bank for implementation of the Project “Savings Pilot in Eurasia”.

Provision of this grant “FINCA Кыргызстан” was mostly determined by fact that the company has reputation of reliable financial institute, which makes positive changes in the financial market. Along with Kyrgyzstan, “FINCA Tajikistan” is also engaged in this project.

“Grant for FINCA was in amount of 230 thousand USD. During nine months, this amount of money was used for development and piloting of the deposit module within operational system, deposit strategy, banking products and services. Also, the staff was extended in the branches and new specialists were recruited, who provide service on money transfer without account opening in a framework of the agent agreement with the commercial bank. Part of funds was used to conduct marketing surveys and training of the staff in all FINCA branches. Today, we already spent 50% of grant money. Rest part will be spent for campaign on advertisement of banking products and trainings on their mainstreaming “, – Zulfiya Tekimbaeva, the project manager told.

At present, a package of standard banking products and services was elaborated, which will be offered to the clients in case FINCA would obtain banking license. There are deposit accounts “Saving”, “Urgent”, and services on money transfer and settlement-cash service.

“Funds allocated by the Austrian bank, definitely, are well-timed support for us. All developments will help us under transformation into bank”, – Zulfiya Tekimbaeva underlined.

It is worth to say that highly qualified FINCA specialists do preparatory work since they have solid experience and knowledge in banking sphere. So, Zulfiya Tekimbaeva, the project manager worked 17 years in banks of Kyrgyzstan, in “Demir Bank” and German International Microfinancial Banks – ProCredit Bank in Sierra-Leone (Africa), AccessBank in Liberia (Africa) and AccessBank in Tajikistan.