Bản tin M7

“All for the future electric current of the country”, following the call of the Communist party, in 2002, the family of Mrs. Hoang Thi Men and Mr.Ha Dinh Lu with their old parents and 02 young brother and 01 first child left their homeland of Phu Yen to make their home in Yen Son village, Hat Lot commune, Mai Son district to live in.

      Mrs. Bui Thi The, member of cluster No 34 of Transaction office 01 under M7 Microfinance Institution Limited – Uong Bi branch, Quang Ninh, is a disable member with her left hand of congenital malformation. In 1982 she got married with Ha Minh Thanh from Thuy Nguyen district, Hai Phong city. She gave birth to 03 children, but her husband is ill health and her family had faced with difficulties.

1.  Capital mobilizing

          Receiving deposits in Vietnamese dong under the following forms:

·     Compulsory savings;

·   Deposit of organizations and individuals including the voluntary deposit of microfinance clients (except for deposit for the purpose of payment).

·    Borrowing loans from credit institutions, financial institutions, other individuals and organizations in domestic and abroad in accordance with the law.

2.  Credit providing

·   Providing credit in Vietnamese dong in the form of loans.

·   M7-MFI’s credit providing can be ensured by compulsory savings and guaranteed by group/cluster.

3.  Account opening

Open deposit account at the State Bank of Vietnam, commercial banks.

4.  Other activities:

·     Entrust and being entrusted for loans.

·     Providing financial advisory services related to the field of microfinance.

·     Providing helping services of collection, payment and transfer money to clients of microfinance.

·     To be an agency to provide insurance services.

Vision

To be an organization which provides sustainable and quality microfinance services for the groups who are facing with social and economic challenges, especially ethnic minority group.

Mission

Support people who are facing with social and economic challenges, especially women and ethnic minority groups through the provision of microfinance services, contributing to the achievement of poverty reduction, equality and development on the basis of ensuring the sustainability of the institution and finance

M7-MFI was established on the basis of capital contribution of 03 social fund (Mai Son Fund for Assistance to Ethnic minority women, Uong Bi Fund for Women Promotion and Dong Trieu Fund for Assistance to Women) operating in 02 provinces of Son La and Quang Ninh.

Following the success of the opening ceremony of Dong Trieu and Uong Bi branch, at morning on March 05^th 2013, M7 Microfinance Institution Limited (M7-MFI) was pleased to launch the opening ceremony of  M7-MFI- Mai Son branch, Son La (hereafter referred to as the Mai Son branch, Son La). Representatives of agencies and departments in Mai Son district, Son La province, council members of M7-MFI, the Board of Management of M7-MFI ... and especially the presence of representatives of the State Bank in Son La branch also came to congratulate and speak at the ceremony.

At 9 a.m on February 25^th 2013, M7 Microfinance Institution Limited (M7-MFI) was please to organize the Opening ceremony of M7 Microfinance Institution Limited – Uong Bi branch, Quang Ninh (hereinafter referred to as Uong Bi branch, Quang Ninh).  This is considered a worthy result for the tireless efforts of the entire management board and staff of M7-MFI on the way of the to complete the mission proposed. Representatives of agencies and departments in Uong Bi city- Quang Ninh province, council members of M7-MFI, the Board of Management of M7- MFI... and especially the presence of representatives of the State Bank from Quang Ninh branch also came to congratulate and speak at the ceremony.

     At 8 a.m. on Feb 21^st in 2013, M7 Microfinance Institution Limited (M7-MFI) is pleased to organize the opening ceremony of M7 Microfinance Institution Limited – Dong Trieu branch, in Quang Ninh province (hereinafter referred to as the Dong Trieu branch, Quảng Ninh).

This is considered an important event marking a process striving for mastery of the entire Board of Directors and staffs M7-MFI Office from Headquarters to the branch in Dong Trieu, Quang Ninh on its stated mission. The Dong Trieu branch is honored to welcome the representatives, distinguished guests come from the agencies, departments of Dong Trieu  district , the members of the Member council and the Board of Management of M7- MFI, especially the presence of representative of the State Bank from Quang Ninh branch and representatives of  Dong Trieu district Committee  also come to congratulate.

Speaking at the opening ceremony, Mr Ngo Tien Thieu - Vice President of the People Committee of Dong Trieu district had appreciated the contributions of all the affiliated staff in Dong Trieu branch, Quang Ninh (ex-member of the Dong Trieu Fund for Assistance to Women) in the poverty alleviation task districts in the area of Dong Trieu district throughout the years. At the same time, he wants Dong Trieu branch continues to contribute to the process of industrialization and modernization of the Dong Trieu district in order to realize the goal put the district to be town by 2015.

The representative of the State Bank from Quang Ninh branch Mr. Nguyen Duc Hien-Deputy Director cum Chief Inspector has made his speech at the ceremony. Mr. Nguyen Duc Hien greatly appreciate the efforts of the Dong Trieu branch in  Quang Ninh in compliance and improve organization according to the current rules of the State Bank of Vietnam. Mr. Nguyen Duc Hien also expressed the belief that the Dong Trieu branch will increasingly develop further under the leadership of the branch leadership and unity of all affiliated staff.

After the speeches of the heads of departments and agencies is the part of closing the opening ceremony and taking pictures. The opening ceremony ended successfully.

Mr. Nguyen Duc Binh- CEO of M7-MFI stating the opening speech

Mrs Nguyen Thi Soat- Manager of Dong Trieu branch, Quảng Ninh summarizes the results of transformation of Dong Trieu Fund for Assistance to Women from its establishment until now

Mrs Vu Thi Khau – Chairwomen of Member council announced the decision to establish the Dong Trieu branch, Quảng Ninh

Mrs Vu Thi Khau – Chairwomen of Member council giving the decision to establish the Dong Trieu branch, Quảng Ninh

Mr. Ngo Tien Thieu- Vice President of Dong Trieu District People Committee speaking at the opening ceremony

Mr. Nguyen Duc Hien-Deputy Director, Chief Inspector of the State Bank of Quang Ninh branch spoke at the opening ceremony

Leaders of State Bank at Quang Ninh branch, Leaders of Dong Trieu District People Committee, members of  Member Council and key personnel in Dong Trieu branch taking a photo.

The singing show to celebrate the opening ceremony of M7 Microfinance Institution Limited- Dong Trieu branch, Quang Ninh by branch’s staff

From 16/04/2012 to 23/04/2012, M7 Microfinance Institution Limited was delighted to welcome a representative delegation of CordAid organization (the traditional donor of M7MFI’s branches from Netherlands). The Delegates of CordAid has congratulated on the receiving of establishment license and worked with staff of M7MFI Head Office to get the detailed information about the organizational structure of M7MFI.On 17/04/2012, The Cordaid delegation had a working visit to Mai Son Fund for Assistance to Ethnic minority Women in Son La province. At here, the delegation had meetings with Director of Mai Son Fund, Head of Supervisory board, Head of Transaction office and visited some households, members of Mai Son Fund. The Delegation also shared some valuable experience with Leaders of Mai Son Fund to gradually complete all necessary processes to make M7MFI to become Microfinance Institution in accordance with international standards in the next time.