The transformation process to prepare Moris Rasik for its new life as a registered and supervised Other Deposit Taking Institution (ODTI) took another important step with the signing of a three-year grant agreement with the International Finance Corporation (IFC) — a member of the World Bank Group.
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The core component of Moris Rasik’s operational changes is the purchase and installation of a full-feature retail banking software platform.
The new tool will provide the basis for both improving the efficiency and productivity of current services to clients and the introduction of new savings & lending services as Moris Rasik grows to meet clients’ changing needs.
We are very pleased to have once again the continuing support of the New Zealand Aid Programme (NZAid), by having today signed a grant funding agreement for a major extension of the financial literacy training activity piloted over the past two years.
With the overarching goal of empowering and educating women in rural Timor-Leste to improve the way they manage their money and to develop skills in building their microenterprises, the activity aims to facilitate increased household income and, consequently, community wellbeing.
In addition to incorporating the lessons learned from the previous two pilot phases, in this new five-year programme Moris Rasik will concentrate on supporting microenterprise growth based upon agriculture.