Exactly 20 years ago, on February 20, 2004, at the initiative of leading microfinance organizations, the Association of Microfinance Organizations of Kazakhstan (AMFOK) was established to protect and represent the interests of its members.
Over this time, AMFOK has carried out significant work and proven its importance and effectiveness in the development and consolidation of the microcredit sector. Today, AMFOK unites 72 MFIs, which account for 92% of the market share in terms of the loan portfolio, as well as nine associate members, including JSC «Damu Entrepreneurship Development Fund», JSC «Kazpost», the First Credit Bureau, and others.
Thanks to the active efforts of its members, the microcredit market has gone through key stages of development, evolving from an unregulated sector of microfinance services into a licensed type of activity, with the possibility for MFIs to transform into banks.
The Association has participated in the development of laws and subordinate regulatory legal acts governing the activities of microfinance organizations and has initiated a number of amendments aimed at further sector development.
AMFOK also actively cooperates with partners and MFI associations both in neighboring and international markets and is a member of the Microfinance Centre (Poland). In 2022, at the initiative of AMFOK, the Coordination Council of Associations of Central Asian countries was established, within which large-scale international projects on sustainable development, ESG, green and socially responsible microfinance will be implemented.
The Association is accredited with the National Chamber of Entrepreneurs of the Republic of Kazakhstan «Atameken», is a member of the Association of Financiers of Kazakhstan, and provides expert opinions on various issues of microfinance activities and draft regulatory legal acts governing the MFI sector.
The core of AMFOK consists of companies that for more than 20 years have consistently followed their socially oriented mission of supporting the development of small and medium-sized businesses and promoting traditional socially responsible microcrediting.
Based on this, AMFOK’s main objective is to create a transparent, socially oriented, and civilized microfinance services market.
In short, throughout more than two decades of microcrediting development in Kazakhstan, AMFOK has been directly involved in all key events in the sector, acting as a link between MFIs and government authorities, business partners, and other stakeholders. The Association continues to actively work on consolidating market participants, expanding the potential of MFIs, promoting financial inclusion, and supporting small and medium-sized businesses in Kazakhstan, particularly in rural areas.
Taking this opportunity, dear partners, colleagues, and friends, we would like to express our sincere gratitude for your fruitful cooperation, trust, and support!
AMFOK — 20 years together! United for prosperity!
Republic of Kazakhstan, 050004, Almaty, st. Gogol 111, office 610
amfok.coordinator@gmail.com
+7 (727) 279-18-06
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