News

Archil Bakuradze Elected as a Chair of Microfinance Centre

At the meeting hosted by the international organization “Microfinance Center” (MFC) in the city of Budva, Montenegro, Archil Bakuradze – the chairman of the supervisory board of the financial inclusion organization Crystal was elected as the chair of MFC board. It is noteworthy that from 2019 until now, Archil Bakuradze has been a member of...
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Supporting MSMEs and The Agricultural Sector in Georgia with Crystal

Proparco has granted a USD 10 million financing to the Georgian microfinance institution JSC MFO CRYSTAL (“Crystal”), to support the development of its loan portfolio. Crystal is the leading microfinance institution in the country and operates mainly in rural areas, targeting micro, small and medium enterprises (MSMEs) and the agricultural sector. This facility will be...
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Moneta – High-yield Investment Instrument

Moneta is an investment tool, introduced by Crystal in November 2022. Legally the product is a promissory note (PN) regulated by respective law. Product advantages are security and high effective interest rate of up to 14% in GEL and 5.5% in USD, available both for individuals and legal entities. Crystal has introduced 2 types of...
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Crystal is the Winner of Capital Market Support Program

The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are proud to announce JSC Microfinance Organization Crystal as winner to receive a grant through the capital market support program for issuing GEL 25 million social bonds. 100% of the gender bond proceeds will be used to finance loans to woman-owned MSMEs,...
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ADB Supports Georgia’s Capital Market With Subscription to Country’s First Certified Gender Bond

TBILISI, GEORGIA (10 February 2023) — The Asian Development Bank (ADB) has invested GEL18.75 million (approximately $7 million) in a 2-year local currency gender bond issuance by Joint Stock Company Microfinance Organization Crystal (Crystal), the largest microfinance institution (MFI) in Georgia. It is the first certified gender bond issuance in the South Caucasus and in...
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Crystal Confirms $8 Million Facility with BlueOrchard fund

Tbilisi/Zurich: Financial Inclusion Organization Crystal confirmed USD 8 million loan transaction with Swiss Impact Investment Manager BlueOrchard to support Crystal’s innovative financial services for micro entrepreneurs and farmers throughout Georgia. Crystal and BlueOrchard have been cooperating since of 2014 and have successfully completed multiple transactions. This new facility is demonstration of solid and impactful partnership...
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Crystal – Honorary Award Winner for Annual Report and Transparency for the Fourth Year in a Row

Crystal re-affirmed its position as an honorary award winner at the Best Annual Report and Transparency Competition (BARTA) for the fourth year in a row, demonstrating high quality and openness of its annual reporting. The award emphasizes the stable growth of the company and confirms that commitment to transparency is one of the major organizational...
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Crystal Consulting – Winner of GITI 2022

“Crystal Consulting” – a subsidiary of “MFO Crystal” was announced as a winner of GITI 2022 Cyber Security and IT Innovation award in the nomination “The Best Complex Business Solution of The Year” for its BPA (business process automation) system – Crystal ERP and POS. This year, “Crystal Consulting” first time participated in GITI competition...
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Crystal’s Shareholders Appoint New Members on Supervisory Board

The financial inclusion organization “Crystal” is pleased to announce new appointments in the composition of its Supervisory Board, taking three new independent members – Giorgi Arveladze, Matangi Gowrishankar and Robert Scot Kossmann.   Giorgi Arveladze has 20 years of extensive experience in banking.  At different times, he held senior positions in leading banks and contributed significantly...
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