The Microfinance Investment Support Facility for Afghanistan (MISFA) was set up in 2003 at the invitation of the

Afghan government The government of Afghanistan, officially called the Islamic Emirate of Afghanistan, is the central government of Afghanistan, a unitary state. Under the leadership of the Taliban, the government is a theocracy and an emirate with political powe ...

to streamline collection of donor money and avoid pitfalls arising from conflicting donor interests that had been seen in other post-conflict situations. It was established as a vehicle through which the

Afghan Afghan may refer to: *Something of or related to Afghanistan, a country in Southern-Central Asia *Afghans, people or citizens of Afghanistan, typically of any ethnicity ** Afghan (ethnonym), the historic term applied strictly to people of the Pas ...

government and international donors could channel technical assistance and funding to build Afghanistan's

microfinance Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings ...

sector. In March 2006, MISFA registered as a

limited liability Limited liability is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company or partnership. If a company that provides limited liability to it ...

non-profit company A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...

whose sole shareholder is the Ministry of Finance of the Islamic Republic of Afghanistan. MISFA Ltd is an independent apex organization with a number of implementing partners on the ground. In most cases, MISFA functions as either the exclusive or primary provider of funds to its partners. The legal status of MFIs has been transformed from

NGO A non-governmental organization (NGO) or non-governmental organisation (see spelling differences) is an organization that generally is formed independent from government. They are typically nonprofit entities, and many of them are active in h ...

s to that of non-profit companies registered with the

Afghanistan Investment Support Agency Afghanistan Investment Support Agency (AISA; ps, د افغانستان د پانګې اچونې د ملاټر اداره / fa, اداره حمايه سرمايه گذاری افغانستان) was established in September 2003 as an agency Agen ...

(AISA), as permanent institutions under the

law of Afghanistan The legal system of Afghanistan consists of Islamic, statutory and customary rules. It has developed over centuries and is currently changing in the context of the rebuilding of the Afghan state. The supreme law of the land is the Sharia. In ad ...

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