Bai Tushum Bank became a member Small Business Banking Network
The Bank became SWIFT system participant
The Bank jointly with the German Development Bank (KfW) and the Ministry of Finance of the Kyrgyz Republic launched a new housing product “Jarkyn Jashoo”
Bai-Tushum Bank launched Internet-banking service
The Bank joined to “Leader” money transfer system
The Bank joined to “Golden crown” money transfer system
The Bank joined to “Contact” money transfer system
The Bank joined to “Migom” money transfer system
The Bank joined to “UNIstream” money transfer system
The Bank joined to “Western Union” money transfer system
Bai-Tushum Bank jointly with Automash radiator launched new leasing program
The bank launched the large-scale project to improve the quality of services for small and medium businesses
The Bank launched instant payments via Internet banking
The Bank opened new office in the city’s business center on 104 Chui Prospect
Bai-Tushum Banking Group with the United States Agency for International Development (USAID) together and ACDI/VOCA launched of a three year program titled “Women’s Leadership in Small and Medium Enterprise”
Bai-Tushum Bank and Kyrgyz Republic-Japan Center for Human Development signed the Memorandum of Cooperation
Bai Tushum Bank took part at celebration of 50 years anniversary of ACDI/VOCA
“Bai-Tushum” became the first microfinance organization in the Central Asia, obtained full banking license from the National Bank of the Kyrgyz Republic.
CJSC Bank “Bai-Tushum” was entered to the register of bank-participants of deposit protection system of the Kyrgyz Republic on # 23/12 on the basis of the order # 17 Deposit Protection Agency KR.
Bank “Bai-Tushum” received from EBRD for funding small and medium enterprises in total amount 4 mln. US dollars.
The Bank started cash and settlement services for individuals, legal entities and private entrepreneurs, and also started the new money transfer system “Yldam” without opening bank account in Kyrgyzstan.
“Bai-Tushum” jointly with the Fund started the new favorable loan product for start-up business for women and the youth.
In support of KIVA Fund, the Bank funded projects exceeding 900 women-entrepreneurs from regions of Kyrgyzstan in total amount 68,7 mln. som.
In 2012 the Bank realized social projects more than 2 mln. som, directed for economic potential development and infrastructure of country regions.
“Bai-Tushum” was the official sponsor of Bishkek leasing forum. Main goal of the forum was the creation common platform for discussion of current situation and investment opportunities of market, and also leasing further prospects of in Kyrgyzstan.
The Bank received the award for the best practice implementation of “The Client Protection Principles” in realization of “Transparency” and “Mechanisms for complaint resolution” mechanisms. The award was founded by Microfinance Center and Smart Campaign within initiatives of implementation “The Client Protection Principles”.
“Bai-Tushum” conducted group training for exceeding 1000 people within working on increasing of financial literacy of country population.
In December, 2011, following the results of the detailed audit of the Company carried out by the KIVA Foundation, «Bai – Tushum and Partners» was awarded the distinctions in the area of Social responsibility (Social Performance Strengths) in four nominations: «Fight against poverty», «Expansion of opportunities in a family and society», «Business Support» and “Innovation”.
On November, 1st, 2011, the Company «Bai-Tushum and Partners» entered the active phase of the KIVA project and became the full partner of the Foundation, having confirmed its status of the socially-oriented and dynamically developing Company.
In August, 2011, within the framework of institutional capacity building, and for the purpose of further growth, the Company «Bai-Tushum and Partners» raised its Authorized capital to 615 mln. Som due to mobilization of the new international investors: Private Investment Fund BlueOchard S.C.A. and Microfinance Fund Credit Suisse Managing Company ResponsAbility Social Investments AG.
On July, 15th, 2011, the Microfinance Company «Bai-Tushum and Partners», having worked in Kyrgyzstan for more than 11 years, became the first microfinance organization with deposit collecting license.
Bank group “Bai-Tushum” which includes МCА FF «Bai-Tushum» and Joint-Stock Company MFC «Bai-Tushum and Partners», has financed the leasing transactions amounting to over 560,000 Euro within the leasing project initiated by the Financial Group “Bai-Tushum” and the German society on international cooperation (GiZ).
In July, 2011, the Loan Agreement was signed between the European Bank of Reconstruction and Development and Joint-Stock Company MFC «Bai-Tushum and Partners», according to which the EBRD lent a loan to the Company amounting to 270 mln. Som (about USD 6 mln.).
The company «Bai-Tushum and Partners» has acted as one of the sponsors of the Central Asia Microfinance Summit carried out on July, 7th in Kyrgyzstan under the auspices of the President of the Kyrgyz Republic, Mrs. R. Otunbaeva.
In the accounting year, the Company has been active in expanding of the regional network. 10 additional representation offices were established. Thus, as of the end of 2011, the network consisted of 7 branches and 55 representation offices.
In May, 2011, the Company introduced a new credit product «Aiylkurulush» for rural people intended for financing of building, acquisition, reconstruction and rehabilitation of houses and commercial real estate. It is worth noting, that the product also provides financing of rehabilitation and reconstruction of business premises.
On March, 4th, 2011, the Company «Bai-Tushum and Partners» officially celebrated its 10th Anniversary. Over 10 years the Company has managed to achieve the considerable results, to prove itself as a reliable and dynamically developing organization, to earn the faultless reputation among the clients and partners not only in Kyrgyzstan, but also in Central Asia.
The charitable and sponsor’s aid amounting to over 1, 403,000 Som has been provided.
The Company has celebrated the 10th Anniversary; over the 10 years of work more than 100,000 clients have obtained loans amounting to about USD 150 million.
The Company was one of the first in Central Asia that has obtained the “β +” rating for social activity granted by the international rating agency M-Cril.
Launch of the Project on introduction of the new FinnOne software developed by the NSEL Company.
Launch of the socially focused program on preferential financing of socially-vulnerable groups of population jointly with the Kiva Foundation.
Setting up the not-for-profit «Restoration Fund» jointly with the MCC “Mol Bulak Finance” and legal firm “Kalikova&Associates” for the purpose of provision of financial support to the southern region of Kyrgyzstan in the form of soft loans and grants provided to the victims, and also assistance on restoration of economic well-being of the citizens that have incurred losses of property and have lost their businesses.
Carrying out of 2 stages of the survey within the «Microfinance for Decent Work» Project jointly with the International Labor Organization.
Expansion of the regional network, opening of the 9 new representation offices.
Implementation of rebranding providing a complete change of the Company’s logotype and corporate style.
Opening of the new building in Talas with the area of more than 900 sq. meters, equipped with the modern equipment and meeting the safety requirements of finance institutions.
Commencement of the civil works to construct the office building in Bishkek, with the total area of more than 4000 sq.m.
Timeline for the civil works on the “turn-key” basis is 18 month. Completion is planned by the end of 2011.
Charitable and sponsor’s support amounting to more than 1,200,000 Som has been provided.
Transformation into the microfinance company and obtaining of the relevant license from the NBKR.
Expansion of the structure of shareholders due to the fact that the ASN Novib Fund has joined.
Obtaining of the international ≪Silver≫ award from the MIX for social transparency.
Obtaining by the Company, one of the first in Central Asia, of the social rating.
Launch, jointly with the International Labor Organization of the long-term research project “Microfinance for the decent work”.
Joining the international CGAP campaign “6 principles of clients Protection”.
Signing of the Agreement with the Nucleus Software Export Limited on introduction of the new automated bank system.
Expansion of regional coverage by opening of 9 additional offices of the Company.
Sponsorship for the regional international conference “Adopting technologies for success” where the Company had acted as the strategic sponsor.
In January 2007 the agreement on cooperation in partnership to implement Agricultural Financing component between USAID CAMFA project and Bai Tushum and Partners MCC was signed. The aim of the agreement is to expand financial services to finance agriculture in rural areas of the Kyrgyz Republic.
In April 2007 the Company’s re-registration procedure was made due to increase of the authorized capital up to 150 000 000 Soms.
In May 2007 the Bai Tushum and Partners MCC Talas branch was registered in the Ministry of Justice of the Kyrgyz Republic.
In June 2007 the agreement on providing consulting services to Bai Tushum with the investment division of the World Bank (IFC) was signed. The agreement aims to support the process of transformation of the Company into a commercial bank and expands the range of provided financial services for SME in the Kyrgyz Republic.The ceremony of agreement signing was attended by Michel Mordasini, Executive Director from Switzerland and a member of the World Bank IFC Board of Directors. This agreement is the next stage after signing the agreement on provision of the financial package in the amount of USD 2 200 000 to Bai Tushum Agency by the IFC last year. Within the frame of the agreement the IFC will provide consulting support in the process of transformation, and also the work on development of leasing operations and Bai Tushum policies and procedures will be continued that started in 2005.
The consulting project with value of USD 400 000 will include training of Bai Tushum employees on risk management, providing services on micro deposits, internal control and audit. The project has been supported by the Ministry of Foreign Affairs of Netherlands.
In August 2007 within the frame of the agreement on technical assistance signed with the EBRD in 2005 this company was defined to introduce the program on scoring assessment of Bai Tushum borrowers. The full introduction of the scoring system will be finalized in July 2008.
In September 2007 Bai Tushum and Partners MCC won the UNDP tender to pilot micro-leasing schemes in the rural areas in Kyrgyzstan within the “Development of Macro-leasing in Kyrgyzstan” project. The project is implemented by the UNDP with support of Arabic Gulf Countries (AGFUND).
In October 2007 the NBKR issued a license to implement leasing operations to the Bai Tushum MCA and the Bai Tushum and Partners MCC.
In February 2006 due to the increase of the authorized capital up to 130 000 000 KGS the state re-registration of MCC Bai Tushum and Partners LLC was made.
In February 20, 2006 Bai Tushum and Partners started its activities on disbursement of microcredits.
In February 2006 the results of the CGAP contest for financial transparency were announced. The purpose of this contest opens the part of the CGAP strategy and lies in the improvement of financial reporting of microfinance organizations all over the world. The winners were 20 microfinance organizations among them the only representative of the Kyrgyz Republic was the Bai Tushum and Partners Company.
Microfinanza Italian Company certified by the World Bank Group, CGAP (Consulting Group Assisting the Poor) conducted the second procedure of the international rate assessment. BTFF MCA received the high mark for its activities “A+”. The previous rate of the BTFF for 2003 was “A”.
Having studied the past years experience on cooperation with various international financial organizations the Fund has taken a decision to include in the strategic plan the issue on transformation into a commercial organization. It will enable the Fund taking into account its appeal in sustainability, stability and profitability to provide the inflow of investments, to develop and to introduce new financial products.
In December 2005 the BTFF established Bai Tushum and Partners Microcredit Company LLC.
At present there are two microfinance institutions working in the crediting sphere – Bai Tushum Financial Fund MCA and Bai Tushum and Partners MCC.
“Bai Tushum” is the first microfinance organization in Kyrgyzstan that has obtained a credit in the amount of USD 2 million from the European Bank of Reconstruction and Development (EBRD). The EBRD within the project developed for non-banking microfinance organizations gave the Bai Tushum Company the credit resources as one of the well-organized and regulated organizations, with successful and profitable activities in crediting.
Since January 2004 BTFF MCA is a member of the Credit Bureau established under TACIS technical assistance.
In August 2002 the BTFF received the NBKR certificate as microcrediting agency according to the adopted law “On Microfinance Organizations”.
Bai Tushum Financial Fund (BTFF) was founded in October 24, 2000. The Fund was established through combination of programs of two NGOs – ACDI/VOCA American organization and Caritas Swiss organization.
BTFF was called to assist in economic and social development in rural and urban areas of the Kyrgyz Republic through providing financial and adjoining services to farmers and other participants of the SME. Providing microcredits to individuals, private entities and farms that have no access to the formal bank sector has always been and remains the priority task.