Trang Chủ
M7-MFI was organized and operated under the Law on Credit Institutions in 2010, Decree No. 28/2005/ ND-CP dated 09/3/2005 and Decree No. 165/2007/ ND-CP by the Prime Minister on the organization and operation of the microfinance institutions in Vietnam. M7-MFI was granted the business license on 13 January 2012 by the State Bank of Vietnam (SBV) and officially operated in 2013. Currently, M7-MFI has a headquarters in Hanoi and 3 branches and 11 transation offices in 2 provinces: Son La and Quang Ninh.
The predecessor of M7-MFI is microfinance operation of the Capital Aid Fund for Mountainous Women in Development of Mai Son district in Son La province, the Capital Aid Fund for Women of Dong Trieu district, Quang Ninh province (established in 2007) and the Fund for the advancement of women of Uong Bi commune (founded in 2004). The main functions of this institution are using its own capital, mobilized capital to support the poor, the low-income people, especially women and ethnic minorities in poor areas and mountains of Vietnam. Thereby it contributes to effectuating the policy of the national hunger eradication and poverty reduction.
M7-MFI operates in: (i) mobilizing include receiving the compulsory savings , the deposits of organizations and individuals including voluntary deposits, excluding deposits for the payment. M7-MFI is lent by the credit institutions, financial institutions and individuals, other institutions in Vietnam and abroad in accordance with the law; (ii) Providing credit in the form of loans. The credit provision of the M7-MFI can be guaranteed by the compulsory savings, the guarantees of the customer groups with savings and loans. In addition, M7-MFI has other activities such as entrusting, getting trusted loans, providing the financial advisory services related to the microfinance sector, providing collection, payment, money transfer to microfinance customers , and working as an agent to provide the insurance services.
The deposit insurance participation of M7-MFI contributes to strengthening confidence of the public in the operations of M7-MFI in particular and the credit institutions system in general. This is also an important basis for DIV and SBV to implement one of the key tasks in the period 2015-2016 which is "improving the indicators of accessing credit" as well as goal of the hunger eradication and poverty reduction in the agriculture and rural areas.
