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Founding Parties

Arnur Credit was established by “ORDA Credit” LLP.  ORDA’s  investments include securities portfolios of Kazakhstani’s  issuers, investments in subsidiaries, and real estate. 

In 2012,  Rural Impulse Fund II (RIF II) by IncofinASN-Novib Microcredit Fund (ANMF) by Triple Jump, and MicroVest Capital Management, LLC  joined Arnur Credit as shareholders at 45%.

In 2017,  ORDA Credi tsold its remaining 55% of shares in Arnur Creditto its shareholder at the time, Mr. Frantisek Zajic, a Czech citizen. Mr. Zajic has been active on the Central Asian cotton market since 1999, predominantly dealing in raw product originating from Kazakhstan and other Central Asian countries. His relationships with Kazakh cotton producers go beyond those of a trader. Mr. Zajic works with suppliers to ensure they are able to invest into their businesses, grow and innovate by providing pre-payments, as well as help with finding new technologies, etc. 

Today, Arnur Credit is fully foreign owned, but the mission of the company stays the same, concentrating on microfinance in Southern Kazakhstan and supporting rural, small and medium entrepreneurs.  

Rural Impulse Fund II (RIF II)

Rural Impulse Fund II (RIF II) by Incofin IM is the successor of RIF I and invests in microfinance institutions that offer financial services in disadvantaged rural areas through debt and equity investments. RIF II focuses on investments in Africa, Asia, and Latin America.

ASN-Novib Microcredit Fund (ANMF)


Established in 1999 by ASN Bank and Oxfam Novib, fund ASN-Novib Microcredit Fund (ANMF) was the first mutual retail fund for MFO in Netherlands. The Fund allows individuals to invest in MFO by acquiring shares issued by ASN Bank. The purpose of fund is stimulation of extended partnership of all kinds of businesspeople in market economy of developing countries.

The Fund provides capital to microlenders, which are appropriate for micro-businessmen, which are prevented from the official core banking; banks often treat such businessman as either too risky or inconsiderable. With portfolio at risk for more than 30 days 0,9%, the Fund can impress with proven track record.

ANMF invests in developing and established microlenders (primarily regulated by MFO, financial institutions and banks, but also by NGO). It performs the activity in the countries of Africa, Asia, Eastern Europe and Latin America, which have been assigned as Countries of Official Development Aid of OECD (Organization for Economic Cooperation and Development).

MicroVest Capital Management

Founded in 2003, MicroVest is an asset management firm that offers investors a unique global investment opportunity. We seek to invest capital in under-banked markets and provide access to financial services for rising middle-class communities around the world. We believe our detailed due diligence process and focus on aligning values may result in meaningful financial returns. In other words, we feel that we are able to produce risk-adjusted financial returns for our investors not despite the social lens of our investment process, but because of it. 

We manage a family of funds that seek to provide private capital to financial institutions that in turn make loans to entrepreneurs in developing communities. As of December 2017, the institutions of our portfolio served ~12.3 million micro, small and medium-size businesses and individuals.


Our contacts

35 Tauke Khan Avenue, Shymkent,
Kazakhstan, 160011

Work Schedule

Monday - Friday
From 9:00 to 18:00