Mutahid Operates as an Individual Entity
Mutahid Development Finance Institution received a separate business license in April 2017 and transformed into an independent and wholly owned subsidiary of Microfinance Investment Support Facility for Afghanistan (MISFA). It was previously operating as the retail arm of MISFA.
Mutahid recently signed various agreements with MISFA, with a combined value in excess of USD $10 million, to formalize the new relationship. The funds will be used to expand Mutahid operations to cater to the financial needs of a larger number of under-served micro, small and medium enterprises. The objective is the creation of thousands of additional jobs that will go a long way to bringing about peace and stability in conflict-ridden Afghanistan.
Mutahid started in April 2011 to integrate and recover the outstanding portfolios of the six MFIs that were not sustainable. Mutahid currently has eight branches – three in Kabul province/city, and five in the following provinces: Balkh, Herat, Kunduz, Takhar, and Badakhshan. Mutahid is a pioneer in the country in terms of using new technologies, e.g.mobile banking to improve access to finance. All its loan-related transactions are cash-less, and the clients have a greater flexibility to transact with the institution.
