IMON International, which is a leading deposit-taking microfinance institution (MFI) in Tajikistan, has got a high international award once again.
IMON International reportedly got grade A for social rating from MicroFinanza Rating (MFR).
Social Rating integrates the Universal Standards of Social Performance Management (USSPM) and provides an external validation of the MFI implementation of the USSPM.
Social Rating reviews Client Protection and gives an indicator of the efforts required to achieve Client Protection Certification, helping to get ready for it.
The Social Rating provides an opinion on the capacity of an MFI to put its mission into practice and achieve social goals. Clients may choose between a Comprehensive (with focus group and client survey) or Standard Rating (MFI-level information).
Founded in 2000, MicroFinanza Rating (MFR) is a private and independent international rating agency specialized in microfinance. Its vision is to operate in a transparent market as a highly qualified information provider in the field of microfinance and responsible investing and to provide the microfinance and responsible finance industry with independent, high quality ratings and information services, aiming at enhancing transparency, facilitating investments and promoting best practices worldwide.
IMON International is a deposit-taking microfinance institution (MFI) offering individual and solidarity group loans to micro-entrepreneurs in urban and rural Tajikistan. The organization started out in 1999 as a small micro-lending program initiated by the National Association of Business Women of Tajikistan. Over the years, the programme has evolved into a leading deposit-taking MFI which is about to become a commercial bank. In 2013, IMON obtained a deposit-taking license and launched deposit-taking operations.
IMON is the leading MFI in Tajikistan in terms of loan portfolio, client base and coverage, as well as financial and social performance.
IMON International is a long-standing partner of the European Bank for Reconstruction and Development (EBRD), which is also a shareholder in the company. The EBRD became a shareholder in IMON International in November 2013, alongside the Netherlands Development Finance Company (FMO), with the aim of supporting IMON International’s goal to become a dedicated microfinance bank. The EBRD and the FMO jointly invested US$ 6.5 million to acquire 12.5 per cent each of shares in IMON International.
