September 11, 2011

As part of an ongoing effort to fully migrate risk ratings to our new and enhanced risk rating system, Kiva has conducted a re-assessment of the level of risk posed by this institution.

During this re-assessment, our analysts were able to gather updated operational and financial information about the institution, as well as speak with key members of the staff. 

Kiva's new risk rating system, which now includes half stars, has enabled us to display ACSI's risk rating with a higher level of granularity. As a result, ACSI's risk rating will now be displayed as 3.5 stars instead of 4 stars. 

We have prepared a blog post with more information on Kiva's new and enhanced risk rating system, along with a chart showing the relative magnitude of the overall changes for Kiva's portfolio.  To view that, please go here: http://www.kiva.org/updates/kiva/2011/09/07/kiva-risk-ratings-now-with-half-stars.html.

ACSI has been informed of the change in the display of their rating on Kiva's website.

Original Partner Description

In July 2003 CHF piloted the first microfinance program in Iraq, Access to Credit Services Initiative (ACSI) to address the demand for credit from micro and small businesses and home owners. Since that time it has grown into the largest MFI in the country, covering over more than 65% of Iraq’s geographical area (as of December 2011).

ACSI’s mission is to contribute to the overall economic revitalization of Iraq by helping male and female business owners and home owners to strengthen and expand their businesses, stabilize their income, and improve their habitat & quality of life; which is consistent with CHF International’s mission to improve the housing and economic circumstances, and environments of low and moderate income communities around the world.

ACSI's main objectives:

The large demand for ACSI services also demonstrates that Iraqis continue to seek opportunities to invest in their future.

Please join ACSI's lending team to receive updates on the organization.

  • Increase access to financial services for the working poor.
  • Stimulate and promote micro and small business development and improved living conditions.
  • Achieve and maintain financial sustainability to ensure that the program continues to serve the financial needs of the working poor.
  • Develop a transparent, and efficient credit process
  • Build customer loyalty by providing good customer service and developing products that meet demand
  • Maintain a high repayment rate and portfolio quality to ensure program success and financial sustainability
  • Build local community support for ACSI’s services
  • Develop local staff capacity to carry out ACSI activities.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Sep 29, 2010 Oct 12, 2005
Total Loans $3,925,325 $587,597,875
Amount of raised Inactive loans $0 $594,300
Number of raised Inactive loans 0 505
Amount of Paying Back Loans $463,700 $120,739,200
Number of Paying Back Loans 198 127,756
Amount of Ended Loans $3,461,625 $466,264,375
Number of Ended Loans 1,469 592,949
Delinquency Rate 2.99% 4.75%
Amount in Arrears $5,025 $3,770,945
Outstanding Portfolio $168,238 $79,436,126
Number of loanDelinquent 22 20,589
Default Rate 0.20% 1.14%
Amount of Ended Loans Defaulted $6,875 $5,336,912
Amount of Ended Loans $3,461,625 $466,264,375
Number of Ended Loans Defaulted 7 16,802
Currency Exchange Loss Rate 0.00% 0.08%
Amount of Currency Exchange Loss $0 $480,684
Refund Rate 0.57% 0.77%
Amount of Refunded Loans $22,200 $4,496,750
Number of Refunded Loans 9 5,041

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 9.29% 74.16%
Average Loan Size $2,355 $418
Average Individual Loan Size $2,355 $656
Average Group Loan Size $0 $1,829
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $3,600 $3,432
Average Loan Size / GDP per capita (PPP) 65.43% 12.19%
Average Time to Fund a Loan 17.74 days 5.58 days
Average Dollars Raised Per Day Per Loan $132.77 $74.96
  Average Loan Term 11.95 months 10.32 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 38 293,654
  Journaling Rate 2.54% 42.41%
  Average Number of Comments Per Journal 0.11 0.08
  Average Number of Recommendations Per Journal 0.00 1.89

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 28% PY 27.00% PY 33.64% PY
  Profitability (return on assets) 3.8% 16.7% -1.40%
  Average Loan Size (% of per capita income) 66.40% 26.00% 41.35%

Country Fast Facts

Field Partner Staff

Mohammad Al Najar
Moataz Al-Khatib
Adel Hatef
Elie Ibrahim
Manal Kanaan
Moustafa Khalifeh
Ahmad Lamaa
Sami Nakhle