Bai Tushum and Partners, a microfinance institution (MFI) based in the Kyrgyz Republic, has agreed to a deal with Nucleus Software Exports Limited, a banking software company, to adopt FinnOne, Nucleus’s group of applications that support the business affairs of financial institutions [1,2,3,4].
All seven branches of Bai Tushum will now utilize FinnOne’s modules for the operations, credit, finance, human resources, and sales divisions [1]. Features that FinnOne will provide to Bai Tushum include online application processing for prospective borrowers and credit scoring capabilities [1]. According to Gulnara Shamshieva, General Manager of the MFI, efficiency concerns regarding issues such as “credit origination, credit decision making, and [reducing] processing errors” precipitated the need for the adoption of new software [1].
By Christopher Maggio, Research Assistant
About:
Bai Tushum and Partners
Description:
Bai Tushum and Partners is a microfinance institution (MFI) based in the Kyrgyz Republic. It was established in 2000. It is a subsidiary of Bai Tushum Micro Credit Agency which was “established through the consolidation of two farmer-lending associations by ACDI/VOCA (USA) and CARITAS (Switzerland).” Its products include agroloans to finance agricultural activity; trade, service, and production loans; mortgage loans; financing equipment; and consumer loans. MicroCapital reported on Bai Tushum’s successful transition from a microcredit company to an MFI in 2009.
Microfinance Information Exchange (MIX) Profile :
http://www.mixmarket.org/mfi/bai-tushum?widget=1
Organization’s Website:
http://www.baitushum.kg/en/home
Just the Facts:
-Country of Incorporation: Kyrgyz Republic
-Year Founded: 2000
-Legal Status: Closed Joint-Stock Microfinance Institution
-Total Assets: USD 53.1 million (as of 31/Dec/08)
-Gross Loan Portfolio: USD 35.1 million (as of 31/Dec/08)
-Number of Active Borrowers: 18,930 (as of 31/Dec/08)
-Area of Operation: Kyrgyz Republic
-Participant(s)/Backer(s)/Investor(s): Bai Tushum Micro Credit Agency
Contact Information:
Address:
216 Toktogul Street
720001 Bishkek
Kyrgyzstan
Phone: +996 312 900462
Fax: +996 312 211642
Email: baitushum@baitushum.kgn
Additional Resources:
Bai Tushum on IFC.org:
http://www.ifc.org/ifcext/spiwebsite1.nsf/1ca07340e47a35cd85256efb00700c…
http://www.ifc.org/ifcext/spiwebsite1.nsf/1ca07340e47a35cd85256efb00700c…
MICROCAPITAL.ORG STORY: International Finance Corporation (IFC) Supports Transformation of Kyrgyz Republic’s Bai-Tushum From Microcredit to Microfinance Company With the Intention Becoming a Deposit-Taking Instituion: https://www.microcapital.org/microcapitalorg-story-international-finance-…
Annual Report 2007: http://www.baitushum.kg/en/attachments/090_Ann_Report_2007.pdf
Bibliography:
[1] Equity Bulls article entitled ‘Kyrgyz Company Bai Tushum and Partners chooses Nucleus Software’s FinnOne’: http://www.equitybulls.com/admin/news2006/news_det.asp?id=64976
[2] Bai Tushum and Partners: http://www.baitushum.kg/en/about
[3] Nucleus Software Exports Limited: http://www.nucleussoftware.com/home.htm
[4] FinnOne: http://www.nucleussoftware.com/products_finnone.htm
Source Article:
Equity Bulls article entitled ‘Kyrgyz Company Bai Tushum and Partners chooses Nucleus Software’s FinnOne’: http://www.equitybulls.com/admin/news2006/news_det.asp?id=64976
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