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 (Shariah) for the Centre of Excellence in Social Finance, and Head of Online Programs at INCEIF University. He is the former Associate Dean and Director of Executive Education and of E-learning at the same university. Dr Ziyaad has advised financial institutions and regulators in Islamic finance, Read More
Assoc Prof Dr Ziyaad Mahomed - Member
Armando Massimiliano Sirolla is a senior executive with over 20 years of experience in finance, policy and digital transformation, including almost 15 years in C-Suite positions at financial institutions in Afghanistan, Madagascar, Tanzania and Zambia. A fintech and business professional, who has led digital transformations for … Read More
Armando Massimiliano Sirolla - Member
Nasratullah Mahmood is currently serving as General Director of Treasury at Ministry of Finance (MoF). He has served at several senior level positions including the Director of External Affairs at MoF. Mr. Mahmood has strong academic background as well and was a lecturer in Islamic University. In addition, Mr. Mahmood has served in the Board of Directors of … Read More
Nasratullah Mahmood - Member
Mirza Muhammad Shakib is a 44-year-old Afghan professional, originally from Zabul, a province in southern Afghanistan. He has a solid educational background, having graduated from Dar-ul-Ulum al Sharia in 2018 and obtained a diploma in international relations and diplomacy from the Directorate of Diplomacy at the Ministry of Foreign Affairs in 2023… Read More
Maulavi Mirza Muhammad Shakib - Member
Hikmatullah Mashal have several years of experience in technology and telecom sector 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 2025
ACTIVE BORROWERS
WOMEN BORROWERS
LOAN OUTSTANDING PER BORROWER
GROSS LOAN PORTFOLIO
Events
Kabul, July 1, 2025 — The Microfinance Investment Support Facility for Afghanistan (MISFA) has signed a funding agreement with Shahy...
June 3, 2025 — The Afghanistan Institute of Banking and Finance (AIBF) has officially reopened, with Sediqullah Khalid, First Deputy...
On January 27, 2025; MISFA signed funding agreement with Afghanistan Microfinance Association (AMA) to cover the operating cost of the...
Microfinance Investment Support Facility for Afghanistan (MISFA) signed a Mudarabah agreement with Ghazanfar Bank on May 19, 2024. Under this agreement,...
Mr. Amjad Arbab, the Chairman of MISFA's Board; Mr.Khalil Baheer, MISFA's Managing Director and Mr. Stephen Rasmussen, CAEDO's Chairman of...
COMMISSIONED RESEARCH
Latest Blog
As part of the ongoing consolidation of the microfinance sector of Afghanistan, MISFA is facilitating the merging of the strengths,...
Press Release The microfinance sector of Afghanistan has reached a milestone, disbursing a combined total of more than US$1 billion...
A recently completed research assesses the demand for Sharia-based financial products and services by potential borrowers in urban and rural...
A joint study conducted by the United Nations High Commission for Refugees (UNHCR) and BRAC show that contrary to their...
Lack of coordination and communication among stakeholders at the field level has been
Our Partners
