Who we are
The Albanian Microfinance Association brings together the most consolidated non-bank financial institutions in the country
The Albanian Microfinance Association brings together the most consolidated non-bank financial institutions, whose main activity is microfinance, which together represent a credit portfolio exceeding 39 billion ALL, with more than 270,000 active clients (year-end 2022 figures).
Albania continues to have a strong demand for microfinance products. Most Albanian NBFIs follow a responsible social policy targeting financially excluded individuals and disadvantaged geographic areas. The microfinance sector supports a wide range of individuals, micro and small businesses and other market segments, with a strong focus on job creation, narrowing gender gaps in entrepreneurship, and providing financial solutions in a sustainable manner.
The three main objectives of the Association are:
- Represents its members in national or international gatherings, legislative and regulatory consultations, and business events.
- Supports the technical and institutional consolidation of members, by exchanging best practices and identifying financial and economic trends.
- Promotes financial education and financial literacy, access to finance, responsible financing, and the microfinance sector as a whole.
Our journey
The Association's members started their activity as early as 1992 at a time when Albania opened up to a free market economy after enduring one of the most repressive communist regimes for 45 years.
Rural Credit Pilot Project
Creation of the Albanian Development Fund
ADEF creates two Urban and Rural Credit Departments
Creation of the Albanian Partner for Microcredit (APM)
Creation of the Development Fund and Rural Financing Fund. The Urban Credit Department is transferred to BESA Foundation
Creation of the Foundation — Building the Future
Creation of the Savings-Credit Union, based on the experience of the Rural Credit Department at ADEF
Building the Future Foundation transforms into Jehona Union
APM transforms into Opportunity Albania
MAFF transforms into FAF d.c., while BESA Foundation is licensed as NBFI
Opportunity Albania transforms into NOA, BF transforms into Vision Albania Foundation
Savings-Credit Union transforms into FedInvest SCU
Vision Fund Albania passes under BESA Fund ownership and transforms into NBFI Agro & Social Fund
Kredo Finance enters the Albanian market and starts lending in 2018
Capital Invest transforms into MiA Finance
Our purpose
Mission
AMA operates in the specific economic context with the ultimate objective of serving the future economic development of the country, and in particular to encourage job creation and financial inclusion of self-employed individuals, farmers, small entrepreneurs and SMEs, through strengthening the microfinance sector.
Vision
AMA's activity is part of a collective and joint effort among its Member Institutions, to increase institutional visibility in the impact that microfinance has on the national economy. AMA promotes best practices, shares knowledge and introduces new financial instruments among its members and the general public.
Leadership structure
The highest decision-making body of the Association is the General Meeting of Members, which is convened once a year.
Arlinda Muja
Executive Director, Kredo Finance
Arlinda Muja joined Kredo Finance in 2017. She has 19+ years of experience in senior managerial positions in the Financial Services Industry. Graduated in 2001 in computer science, Arlinda started her career as IT & MIS manager at World Vision Albania, where she created and led the development of all key technologies. She continued working in the microfinance industry at NOA where she worked for 12 years, the last 7 years as Operations Director.
Brunilda Isaj, MBA, CRB
Executive Director, NOA sh.a.
Brunilda Isaj has over 25 years of experience in the Albanian banking and financial system, covering various managerial positions with a focus on business development. Her experience extends to retail and business banking, financial product development, markets and financial instruments. She has made significant contributions to the advocacy and promotion of the microfinance sector, actively participating in policymaking and the regulatory field.
Network memberships
Microfinance Centre (MFC)
The Albanian Microfinance Association has been a member of MFC since 2016. The Microfinance Centre is a social finance network that promotes fair financing, financial inclusion, gender equality and responsible service. MFC brings together 113 organizations in 36 countries.
European Microfinance Network (EMN)
The European Microfinance Network (EMN) is a non-profit organization based in Brussels that promotes microfinance as a tool to combat social and financial exclusion in Europe through self-employment and the creation of small enterprises.
Albanian Network for Financial Education (ANFE)
The Albanian Network for Financial Education was created through the signing of a Memorandum of Understanding between the Albanian Association of Banks, the Albanian Insurance Association, the Albanian Microfinance Association and other partners.