The financial inclusion organization Crystal has earned another international recognition, being awarded the Silver Certificate in Client Protection this time. The award confirms that Crystal is strongly committed to observing global customer protection principles, implementing reliable and transparent approaches, responsible and prudent lending policies to avoid over-indebtedness, showing utmost care for personal data protection, and...Read More

The financial inclusion organization Crystal has earned the spotlight for the project, which the company rolled out specifically in support of Ukrainian refugees. At the IFC-hosted event in Geneva, Crystal’s CEO, Ilia Revia introduced the project targeting Ukrainian refugees to the audience of large donors and international organizations. The meeting was aimed at attracting new...Read More

The financial inclusion organization “Crystal” is working on the introduction of electronic signatures in its business processes, seeking to phase out paper consumption and fully digitize its activities. The project will contribute to the reduction of paper use and environmental damage, as well as other material signature-related expenses — printers, cartridges, archiving, courier services, etc....Read More

Financial Inclusion Organization Crystal has announced a new USD 15 million credit facility deal (out of which USD 10 million committed and USD 5 million uncommitted) with FMO, the Dutch Entrepreneurial Development Bank. This latest agreement strengthens the continuous partnership between both parties, following the first collaboration in 2017. FMO’s investment reflects its focus on...Read More

Financial inclusion organization Crystal has signed a USD 10 million senior loan agreement with several funds managed by its longstanding partner, the leading Swiss impact asset manager, responsAbility Investment AG (responsAbility). This facility aims to support the company’s portfolio growth in the agriculture and MSME sectors amid banking transformation, underscoring the fund’s support to achieve...Read More

Crystal’s Chief Executive Officer, Ilia Revia, attended an event organized by the Asian Development Bank in Luxembourg. The event was dedicated to the topic of sustainable financial sector, while also covering cooperation between the Asian Development Bank and its European partners. During the meetings and panel discussions spanning over the course of 2 days, representatives...Read More

The reputable international credit rating agency Fitch Ratings has improved the Long-term Issuer Default Rating (IDR) of the financial inclusion organization Crystal, to ‘B’ Stable upgrading from ‘B-‘ Positive outlook. Fitch has outlined multiple factors driving the rating upwards, including strengthened profitability, improved net interest margin, good cost control and asset quality, strong franchise and...Read More

In partnership with the Georgian USB cable manufacturer TENE, Crystal will collect plastic waste for recycling. Special green boxes have already been installed in the company’s premises, where used plastic, batteries, and other recyclable waste can be collected. The materials will be recycled by TENE for the production of USB cables. Being environmentally friendly, addressing...Read More

The financial inclusion organization Crystal and International Finance Corporation (IFC) join forces to support business activities of Forcibly Displaced Persons (FDPs) from Ukraine currently residing in Georgia on permanent or temporary basis. As part of the cooperation, the Ukrainian refugees will gain access to financial products and services tailored to their specific needs, as well...Read More

Tbilisi/Luxembourg, March 29: Financial Inclusion Organization Crystal has signed a $2 million subordinated debt agreement with BlueOrchard Impact Credit Fund. The facility will strengthen capital position of the company and will be applied towards growth, improving financial resilience and outreach to the underserved micro and small businesses. The sub-debt transaction, alongside with $4 million senior...Read More