Moris Rasik – East Timor
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With more than 17 years of presence in the country, Moris Rasik is one of the two MFIs present in East Timor. Moris Rasik was initially registered as an NGO, but the institution had to transform itself into a non-profit foundation to expand its activity.
Moris Rasik’s mission is to provide the poorest rural Timorese women with innovative microfinance products and services that meet their needs and enable them to reach their full potential. This leads to changes within their families and communities.
The MFI was founded in 2000 and today finances more than 10,850 micro-entrepreneurs. It is in 11 of 13 East Timor’s administrative municipalities via 13 agencies. Moris Rasik is now focusing on penetrating the most remote areas through existing rural agencies. The location of agencies in the country allows almost national coverage.
Moris Rasik demonstrates a social impact that is characterised by a 98% portfolio made up of women’s groups and 92% rural, with an average disbursed loan of USD 841.
The products are almost exclusively group-based loans dedicated to financing income-generating activities. In 2015, a new loan was introduced for the improvement of housing conditions, which is exclusively offered to the institution’s existing clients. Since 2012, they also offer financial education courses to its beneficiaries and potential clients.
More information about Moris Rasik: http://morisrasik.com/
