Question 1

What is Yrys?

Accepted Answer

Yrys is a microfinance organization operating as a limited liability partnership (LLP) in Kazakhstan. The organization specializes in providing microcredits to support agricultural development and entrepreneurship in the Turkestan Region (formerly South Kazakhstan Oblast).

Yrys focuses on serving legal entities, peasant (farmer) economies, individual entrepreneurs, and individuals with an emphasis on rural agricultural activities. The organization operates under the regulatory framework established by Kazakhstan's Law on Microfinance Organizations and is supervised by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARDFM).

Question 2

When was Yrys founded?

Accepted Answer

[Information not publicly available]

While the specific founding date of Yrys is not publicly documented, the organization operates within Kazakhstan's microfinance sector, which experienced significant development in the early 2000s following the adoption of the Law on Microcredit Organizations in 2003 and the subsequent Law on Microfinance Organizations in 2012.

Question 3

Where is Yrys headquartered?

Accepted Answer

Yrys is headquartered in the Turkestan Region of Kazakhstan, formerly known as South Kazakhstan Oblast.

The organization maintains a regional presence throughout the Turkestan Region with regional managers stationed in various districts and cities to assist entrepreneurs and farmers with loan applications and documentation.

Question 4

Where does Yrys operate?

Accepted Answer

Yrys operates throughout the Turkestan Region of Kazakhstan, with a particular focus on rural agricultural areas.

The organization has established a network of regional managers across each region and city within the Turkestan Region to provide convenient access to financing for entrepreneurs and farmers in remote areas. This regional structure ensures that borrowers in smaller villages and rural communities can access microfinance services and receive assistance with loan documentation and application processes.

Question 5

What services does Yrys offer?

Accepted Answer

Yrys provides microfinance services specifically designed for agricultural and entrepreneurial development, including:

Microcredit Products:
• Non-revolving credit lines with phased disbursement based on approved schedules
• Lump-sum microcredits for immediate financing needs
• Loan amounts up to 12 million tenge as established by the national budget
• Financing periods ranging from 3 to 60 months
• Competitive interest rates up to 7% per annum

Priority Sectors:
• Livestock production and development
• Crop production and farming
• Processing of agricultural crops
• Production and processing of meat and dairy products
• Production of consumer goods and services

Collateral Options:
The organization accepts various forms of security including residential and commercial real estate, agricultural land, transport vehicles, and other movable property as collateral for loan fulfillment.

Question 6

What makes Yrys unique?

Accepted Answer

Yrys distinguishes itself through its specialized focus on agricultural financing and rural entrepreneurship in the Turkestan Region.

The organization's unique characteristics include:

Agricultural Specialization: Unlike general-purpose microfinance institutions, Yrys concentrates exclusively on agricultural value chains, from primary production through processing and distribution.

Regional Accessibility: Yrys maintains a network of regional managers positioned throughout the Turkestan Region who provide hands-on assistance with loan applications and documentation, making microfinance accessible to farmers and entrepreneurs in remote rural areas.

Affordable Financing: With interest rates up to 7% per annum, Yrys offers competitive pricing compared to commercial banks and many other microfinance organizations in Kazakhstan, making credit more accessible to small-scale farmers and rural entrepreneurs.

Flexible Financing Methods: The organization provides both phased credit lines and lump-sum disbursements, allowing borrowers to choose the financing structure that best matches their agricultural production cycles and cash flow needs.

Question 7

What type of financial institution is Yrys?

Accepted Answer

Yrys is classified as a Microfinance Organization (MFO) in Kazakhstan, operating in the legal form of a limited liability partnership (LLP).

Microfinance organizations in Kazakhstan are specialized financial institutions regulated under the Law on Microfinance Organizations (2012) and supervised by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market. MFOs are authorized to provide microcredits to individuals and legal entities but are not permitted to accept deposits from the public.

As an agricultural-focused MFO, Yrys operates within a specific niche of Kazakhstan's microfinance sector, serving the unique financing needs of farmers, agricultural processors, and rural entrepreneurs who often have limited access to traditional banking services.

Yrys

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About Yrys in Kazakhstan