Moris Rasik
In East Timor, Good Return’s MFI partner is Moris Rasik. The phrase Moris Rasik means "independent and dignified life” in Tetum, the main language of the country.
 
Moris Rasik was established in 2000 as a specialised microfinance institution, and has grown by offering saving services and loans to micro-entrepreneurs in the district capitals, and to those in rural areas without banks.
It is now the largest MFI in East Timor, with 122 staff and 14 branches, serving over 12,000 active borrowers across all of the country’s 13 districts. In December 2008, it reported assets of US$3.91m and deposits of US $1.3m; in 2008 it earned US$ 99,635 profit before tax.
 
In terms of governance, Moris Rasik is registered as a non government organisation in East Timor and is guided by a board of seven directors. Timorese directors include the Minister of Labour, the first Lady of Timor, the Secretary-General of the Timorese Red Cross and the parliamentary opposition leader. Also on the board are Moris Rasik’s founder Helen Todd and a Singapore-based banker.
 
The Managing Director leads the company, assisted by a General Manager and two Deputy General Managers, and Chief Finance & Administration Officer for Support Services. Unit Managers are responsible for branch-level operations, supported by a cashier and up to 5 field staff. Each district has a Finance Officer who is responsible for collating information from the district’s branches and reporting to a District Finance Manager at head office.
 
Moris Rasik follows the Grameen model in their approach to lending. Rural women are organised into small groups of approximately five members, three to eight of these small groups combine to form a centre, which is a village-based savings and credit unit. All financial transactions are carried out at weekly meetings of each centre, which are attended by a member of the Moris Rasik field staff.
 
Moris Rasik offers the full range of financial services. It attracts voluntary savings and term deposits.
 
It provides various loan products:
  • Group lending and special loans
     
  • Salary loans for permanent salary earners
     
  • Small enterprise loans
     

Its outreach effort includes piloting a small-scale solar lantern initiative and teaching financial literacy skills.
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about the field partner
Time active
14 Month(s)
Entrepreneurs
112
Total loans
$18834.00
Rating
N/A
Delinquency rate
N/A
Default rate
N/A

other information
Affiliations
N/A
 
 
 
 
 
 

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Quick facts about:
east timor
Population 1.15 million
Capital Dili
Languages Tetum
Main Exports Coffee, Sandalwood
Currency USD
GNI/capita US$550

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carlos mendonca
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