the background history
Myanmar Finance International Ltd. (MFIL) was successfully established in 1st September 2014 founded by Myanmar Finance Company Limited – the locally owned company, and Myanmar Investments Limited – the Singapore based company. Myanmar Finance International Ltd (MFCL) is providing the Microfinance services to the rural and urban area of Yangon and Bago region since 2012. Myanmar Investment Limited is the Singapore based company and listed on the London Stock Exchange’s AIM market. In November 2015, Norfund (The Norwegian Investment Fund for Developing Countries) became a shareholder in MFIL and engaged the Microfinance services.
Myanmar Finance International Limited (MFIL) operates its business mainly in Yangon and Bago region focusing on families in poverty and small business entrepreneur to develop the higher living standard as well as providing opportunity to expand their business to the next scale through accessible financial sources without taking any physical collateral. As of March 2016, MFIL has over 30,000 active borrowers and operating 6 branches in Yangon and Bago region. There are over 150 staff in MFIL and also planning to open few more branches in FY 2016-2017. The main business function of MFIL is providing the micro finance services and also deposit taking services from the clients.