News

“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

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...Read More

Financial Inclusion Organization Crystal continues to furtherly support Ukrainian people through financial products tailored to their needs. Crystal is pioneer to develop such service for the Ukrainian refugees, on Georgian financial market. The program intends to provide several financial services, including a Startup loan for those willing to launch a new business in Georgia, and...Read More

Crystal, a financial inclusion organization and Symbiotics Investments have strengthened their partnership through a USD 10 million Social Bond. Social loans will be granted to local  Micro, Small & Medium Enterprises, small farmers and agricultural entities, stimulating economic development and generating employment in Georgia. The purpose of the facility is to facilitate community access to...Read More

Microfinance Center (MFC) has organized 24th Annual Conference in Istanbul, Turkey. Purpose of the conference was to explore recent investment landscapes and opportunities, to outline tendencies in green finance, gender, technological challenges and financial inclusion of migrants and refugees. Crystal’s delegation was represented by the Chairman of the Supervisory Board of Crystal Archil Bakuradze, Chief...Read More

Tbilisi – 5 July 2022: Fitch Ratings affirmed Long-Term Issuer Default Rating (IDR) at ‘B-‘ Outlook Stable. Despite of the recent regional shakeouts Crystal has maintained promising financial and operation profile, translated in Stable credit rating Outlook. Funding profile, asset quality and capital position are key indicators that were managed properly. Crystal’s progress towards improving...Read More

Tbilisi / Luxembourg: Financial Inclusion Organization Crystal has confirmed that it has entered into a GEL 20 million senior loan transaction with its long-standing partner, DWM (Developing World Markets). This new credit facility supports Crystal’s mission in supporting micro, small and medium-size enterprises throughout Georgia. Crystal and DWM have built a fruitful partnership in support...Read More

The Financial Inclusion Organization Crystal continues its banking transformation program and recently signed a technical assistance agreement in the amount of EUR 200 000 with its long-standing partner FMO, the Dutch entrepreneurial development bank. The two-years assistance program will contribute to the banking transformation objective.  Crystal launched transformation project in the second half of 2021....Read More

Financial Inclusion Organization Crystal and German Sparkassenstiftung (DSIK) have signed the Memorandum of Cooperation. The memorandum has been implemented within the framework of the project “Increasing access to Finance for Sustainable Development of the Small and Micro Entrepreneurs in the Southern Caucasus and Ukraine”. The program aims providing sustainable and responsible financial services to the...Read More