Vacancy Call for Independent Members of Supervisory Board


JSC MFO Crystal (‘Crystal’) is the leading financial inclusion organisation and the largest non-banking financial institution in Georgia. It manages the loan portfolio of GEL 360 million, employing more than 1,000 members of staff, operating through 48 branches and serving more than 120,000 unique customers across Georgia. 

Crystal acts as a platform for economic development for micro and small entrepreneurs as well as farmers providing them with innovative financial products and value-added services. 

Our commitment to ending endemic poverty in Georgia and protecting our natural environment is integrated directly into our corporate strategy through the pursuit of a Triple Bottom Line: People, Planet and Profit.

Crystal’s institutional shareholders are Incofin IM and Developing World Markets. The Company enjoys a longstanding relationship with up to 25 lenders (MIVs, IFIs, DFIs and Georgian commercial banks). Crystal, as the first Fitch-rated non-banking financial institution in the region, is an active participant in Georgia’s fixed-income market. 

Crystal has three wholly-owned subsidiaries: JSC Crystal Leasing, a provider of fixed-assets financing to MSMEs and farmers, LLC Crystal Consulting, in charge of delivering training, mentoring services and digital applications to high-growth MSMEs and LLC Crystal Cash Management, a provider of cash-handling services. For more information, please visit:

Future Plans

Crystal has embarked upon a bank transformation process aiming to secure a new licence in the course of 2022. This will allow the company to continue on its growth path, expand services for current customers and focus on the emerging market of micro, small enterprises and farmers.

Bank transformation requires revamping the major systems and policies, replacement of core banking system and strengthening Crystal’s overall corporate governance, bringing it in compliance with the National Bank of Georgia’s Corporate Governance Code for Commercial Banks and the best international practises.

Having decided to strengthen the independence and diversity of the Supervisory Board, we are looking for new independent members.


Crystal is seeking for exceptional and experienced individuals, who can bring to the company a leadership, vision, know-how and the experience in one or more of the following areas:

  • Banking business development strategy with an emphasis on retail and MSME
  • Risk governance, including risk strategies, risk appetite and capital allocation
  • Financial Technology and Digital Transformation
  • Remuneration Systems and talent development strategy
  • Corporate Governance, capital markets, legal and compliance.

The new members are expected to bring experience from a diverse set of financial institutions and markets. They would ideally have solid background in dealing with regulators, decision-makers, DFIs, IFIs and private equity. We would welcome candidates who can demonstrate knowledge and experience of Georgia or the region as well as a passion for and expertise in sustainable finance, triple bottom-line and ESG standards.

Candidates will be selected by Crystal’s ad-hoc Recruitment Committee on the basis of the following criteria:

  • Industry experience
  • Technical skills
  • Governance competencies
  • Behavioural competencies

All new members should satisfy independence criteria set by the National Bank of Georgia’s Corporate Governance Code for Commercial Banks.

Terms of Appointment

The term of appointment is up to 4 years. Some new members are expected to assume the role of a Chair of one of the Supervisory Board Committees, which will require adequate effort and time commitment. We estimate new members to spend up to 30 days per annum. This time will be split between at least four SB meetings, committee meetings and preparatory calls. In case of overseas members, we anticipate travel to Georgia twice a year, including for visiting customers, staff and spending time with the management. Members of the Supervisory Board will undergo annual evaluation.

Applications and Contact Information

Interested candidates are welcome to contact Nino Metreveli, Corporate Secretary at for any questions or submission of applications. The application should include a candidate’s brief motivation letter and resume.

The deadline for applications is 31 January 2022.