Expanded meeting of the Management Board of OJSC MCC "Entrepreneurship Development Fund"

On June 06, 2023, an extended meeting of the Management Board of OJSC MCC "Entrepreneurship Development Fund" was held with the participation of directors of branches, which is held on a systematic basis, where numerous issues regarding the development and activities of the Company are discussed, economic indicators are considered and an assessment is given of the work of each branch for the reporting period, as well as new tasks for the next reporting period.

One of the tasks discussed was the issue of quick and high-quality customer service through the introduction of credit scoring (a method for analyzing a borrower and identifying credit risks), which would speed up the process of reviewing applications and issuing loans. In this direction, as noted by Damira Asypbekovna Mukusheva, Deputy Chairman of the Management Board, tireless work is being carried out in accordance with the developed strategy of OJSC MCC “Entrepreneurship Development Fund”, where it is planned to upgrade the automated banking system (ABS) of the Company, which will support the work of credit scoring and will allow further development and introduce new products related to digital technology.

The directors of the branch also raised economic issues about updating office equipment, to which the Chairman of the Board Medetov Ishenbek Bektursunovich instructed the relevant divisions of the Company to update the material and technical base as soon as possible, in accordance with the planned and approved budget of the Company for 2023. This will ensure quality and speed in customer service.

Chairman of the Board of OJSC MCC "Entrepreneurship Development Fund" Medetov I.B. noted that compared to the previous year of this period, the loan portfolio has tripled, which by the end of the month should exceed 400 million soms, and by the end of the year the portfolio should be over 700 million soms. In this regard, the question arises about the further development of the Company and that this year it is planned to open three more branches, as well as planning for the coming years to open new customer service points, which will expand the Company's area of activity. Also, in order to speed up the process of issuing loans and relieve the burden on employees who have a large customer base, it is planned to recruit specialists for branches. The Chairman also focused on the intended use and quality of loans issued to reduce credit risks. Thanks to the high-quality portfolio that was created in previous years, it was possible to reduce the number of overdue "old" loans and restore LLP, which allowed increasing interest income and, accordingly, the Company's profit.

After considering other issues regarding the activities of the Company, the Board of OJSC MCC "Entrepreneurship Development Fund" wished success in the work of the directors of the Company, as well as all employees of the branches, and instructed the Company and the Shareholder to clearly fulfill the tasks assigned to the Company and the Shareholder represented by the Ministry of Finance of the Kyrgyz Republic for 2023.

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