According to the IFC website, the proposed project consists of a senior syndicated loan to PT Mitra Bisnis Keluarga Ventura, IFC’s existing portfolio client and a leading microfinance institution (MFI) in Indonesia. MBK started operations in 2003 and as of September 30, 2017, operates with an asset base of around US$179 million, serving close to 1 million clients. MBK targets the bottom 25 percent of the population in Indonesia by income, with a focus on rural women not traditionally banked by commercial banks and other finance institutions. The funding shall be used to support the growth of the Company’s microfinance portfolio, mainly targeting underserved rural women borrowers.
The shareholders of MBK are PT. Bina Usaha Keluarga (BUK) (99.7 percent) and Nahruddin Alie (0.3 percent), an Indonesian investor. BUK is owned by IFC (20 percent), Mr. Shafiq Dhanani (40 percent) and Ms. Elizabeth Sweeting (40 percent). Mr. Dhanani is the President Director and founder of MBK, while Ms. Sweeting is the Deputy President Director and Co-founder of MBK.
The founders have previously consulted with several international organizations and have more than 27 years of experience in Indonesia. Mr. Dhanani received his D.Phil. in Development Economics from Oxford University whereas Ms. Sweeting received her Ph.D. from the University of Sussex. Mr. Alie holds a Masters Degree in Human Settlements Development Planning from the Asian Institute of Technology. Previous positions include National Officer, UNIDO Jakarta, and Staff, Department of Industry, Jakarta.
PT Mitra Business Keluarga
+62 21 3972 9909
Synergy Building, Lantai 16, Unit 6-8, Jalan Jalur Sutera Barat Kav. 17, Alam Sutera, Tangerang
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