News

Fitch Ratings has issued an updated credit rating. The reputable international rating agency has improved the Long-term Issuer Default Rating (IDR) of the financial inclusion organization Crystal, changing the stable outlook awarded last year to positive this time. The improvement of Crystal’s credit rating outlook by Fitch has been conditioned by a range of parameters,...Read More

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...Read More

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...Read More

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...Read More

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,...Read More

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...Read More

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...Read More

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...Read More

“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...Read More