The micro-lending activities of Furuz began in November 1999 as a Micro Enterprise Development program of the international NGO Millennium Relief and Development Services. After receiving a lending license in March 2006 from the National Bank of Tajikistan, the Microcredit Organization Furuz started its lending activities.
Furuz’s main objective is to encourage local economic development through access to credit. Today, the MFI has seven branches and serves more than 4,500 clients. Furuz mainly targets micro-entrepreneurs in rural areas (only 22% of customers live in urban areas).
The institution has a good knowledge of the needs of the customers and therefor offers a range of adapted and diversified credit products. For example, the repayment frequency and the duration are flexible enough to adapt to the different activities financed (monthly repayment, with or without a grace period for agricultural activities).
A consumer loan is offered to customers who already have a productive credit. The consumer loan mainly finances projects for construction and / or house improvements, but also education and health. All products have an exclusively individual methodology.