Program of microfinancing to rural population  and agricultural producers "Murabaha"


The program purpose: Microfinance of the rural population and agricultural producers for livestock (except pig), crop production, other businesses in rural areas.
Target group: rural, peasant and individual farms, individual entrepreneurs and legal entities engaged in business activities in rural areas.
Intended purpose: acquisition of fixed assets, biological assets at the request of the Borrower for sale it in installments.
Loan amount: not more than 33 000 (thirty-three thousand) US dollars at the exchange rate of the National Bank of the Republic of Kazakhstan on the date of a positive decision on the financing.
Financial Instruments: loan.
Rate of return: 11% per annum.
The annual effective rate of return: not more than 11.3% per annum.
Term financing: not more than 48 (forty-eight) months.
Frequency of principal debt repayment: monthly/quarterly/ 1 (one) every six months and 1 one (1) year, with the possibility of partial/full prepayment during the term of financing.
Grace period for repayment of principal debt and interest: no more than 12 (twelve) months.
Collateral:  under the Company's Pledge policy 
Special conditions to ensure fulfillment of the Borrower's obligations:
demand of the collateral policy on the collateral structure to the program does not apply except biological asset.
The initial contribution or additional security and its types:
The initial contribution at least 10% of the value of fixed assets/biological asset or warranty of the second-tier banks in accordance with sub-limits on direct and contingent liabilities of counterparty banks approved by the competent authority, in the amount not less than 10% of the value of fixed assets/biological asset or liquid assets, the collateral value of which covers at least 15% of the value of the acquired assets / biological asset, provided prior to the collateral provision;
The property can be as the collateral required for the security of Borrower's liabilities, subject to the liquidation coefficients, according to collateral policy of the Company.
Basic requirements for the borrower:
1. absence of arrears on taxes and other obligatory payments to the budget at the date of submission/review of the application for funding (only for individual entrepreneur, peasant farms, farms, LLC); 
2. the absence of arrears before the second-tier banks and other financial institutions for the last reporting date (current month of application);
3. positive credit history (if any credit history).
Basic requirements for the project:
Only new fixed assets are purchased;
fixed assets / biological asset are acquired only in the territory of the Republic of Kazakhstan.
Basic requirements for the supplier:
1. absence of arrears on taxes and other obligatory payments to the budget prior to the date of application for loans by the authorized body of the Company;
2. absence of provider in the following lists the information of which is available on the Internet site of the Tax Committee of the Republic of Kazakhstan: pseudo-enterprises, recognized as inactive, missing at the location, wanted by the tax authorities, taken from registration as payers of certain activities carrying out. 

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