ABOUT MISFA
The Microfinance Investment Support Facility for Afghanistan (MISFA) was set up in 2003 at the invitation of the Afghan government — to get donor coordination right from the start and avoid the counter-productive efforts that have emerged from conflicting donor objectives in other post-conflict situations. It was established as a vehicle through which the Afghan Government and international donors could channel technical assistance and funding to build Afghanistan’s microfinance sector. MISFA was the first facility of its kind, pooling diverse donor funding mechanisms and converting them into streamlined, flexible support to microfinance institutions in Afghanistan, tailored to local priorities and accompanied by technical assistance and strong performance monitoring.
Vision
MISFA’s vision is to develop a sustainable, efficient, and commercialized development finance sector stimulating the economic growth in Afghanistan.
MISSION
MISFA’s mission is to be a strong and efficient organization contributing to Afghanistan’s economic growth by developing a viable, inclusive financial sector.
Board Members
Dr. Ziyaad is Associate Professor, Lead Researcher (Sharia) for the Centre of Excellence in Social Finance, and Head of Online Programs at INCEIF University, Malaysia. He is the former Associate Dean and Director of Executive Education and of E-learning at the same university. READ MORE
Assoc Prof Dr Ziyaad Mahomed - CHAIRMAN
Nasratullah Mahmood is currently serving as the General Director of Treasury at the Ministry of Finance (MoF). He has held several senior-level positions within the Ministry, including Director of External Affairs. Mr. Mahmood has extensive experience serving on the Boards of Directors of various state-owned enterprises. READ MORE
Shirbaz Kaminzada - Member
Mawlawi Azizullah Sahaar currently serves as Chief of Staff at Ministry of Rural Rehabilitation and Development (MRRD). Throughout his career, He has held senior government positions including Acting Deputy Minister, Director of Internal Audit, Director of the Sustainable Energy Department and Director of Procurement at the Ministry of Energy and Water (MoEW). READ MORE
Mawlawi Azizullah Sahaar - Member
Mr. Shirbaz Kaminzada is a successful entrepreneur with an outstanding track record of achievements. He has served as the CEO of Baheer Group of Companies since 1998 and the President of Afghanistan Chamber of Industries and Mines since 2017. Mr. Kaminzada holds a bachelor’s degree in Computer Science and has been pioneering entrepreneurs who introduced the first computer and Computer-to-Plate (CTP) technology in Afghanistan. He has won several prestigious awards namely Rumi award, AISA award, and Afghanistan Industrial Association award.
Shirbaz Kaminzada - Member
Hikmatullah Mashal has several years of experience in the technology and telecom sectors of Afghanistan. Mr. Mashal has a Bachelor degree in Business Administration from Kardan University and has attended several trainings on technology and telecom. He can speak Pashto, Persian, English and Urdu.
Hikmatullah Mashal - MemberOutreach as of May 2026
ACTIVE ISLAMIC FINANCING CLIENTS
ISLAMIC FINANCING CLIENTS (WOMEN)
FINANCING OUTSTANDING PER BORROWER
GROSS ISLAMIC FINANCING PORTFOLIO
Events
June 08, 2026 – Kabul; MISFA signed a funding agreement with Hassel, a microfinance institution (MFI) specializing in agricultural and...
Since September 2022, when the Murabaha and Mudrabah products were approved by the Dar-ul-Ifta of the Supreme Court, MISFA-partner microfinance...
Kabul, August 07, 2025; MISFA signed a funding agreement with AMA to cover the operating cost of the association for...
Kabul, July 24, 2025 — The Microfinance Investment Support Facility for Afghanistan (MISFA) has signed a funding agreement with Momin...
Kabul, July 1, 2025 — The Microfinance Investment Support Facility for Afghanistan (MISFA) has signed a funding agreement with Shahy...
COMMISSIONED RESEARCH
Latest Blog
Afghanistan’s population has increased by a staggering 10% over the past two years.[1] The growth has been driven, in large...
Life was hard for Madina as a refugee in Iran and as a returnee in Afghanistan. She had wanted to...
Since the first pilot of the Targeting the Ultra-Poor (TUP) program in 2010 in Bamyan Province, TUP has helped thousands...
When Del Jan, 54, returned home to Kabul from Pakistan with her husband and children 12 years ago, she was...
Fraidon Ahmadi was not new to business when he applied for his very first micro credit from Mutahid Development Finance...
Not too long ago, Nazema was among the poorest of the poor in her village in the Dasht Qala district...
Fahim and his uncle have been partners in a cart production enterprise located in the Pul-e-Tasadi area of Mazar-e-Sharif. When...
Story of Nafas Gul Nafas Gul, 41, along with her husband and four children, live in the Qarabagh district of...
Story of Mauladad Mauladad, a resident of Kabul province, is a metal smith, who puts his creativity into making electric...
THE STORY OF SALEHA With eight children, Saleha, 34, and her husband were struggling to make ends meet with his...
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