HISTORY AND MILESTONE


MILESTONE AND DEVELOPMENT

1999
On 29 April 1999 Norwegian Humanitarian Enterprise (NHE) established as project to implement micro-credit in Ganja Region.
The project was funded with an initial grant from Normisyon, much of which was raised through NorAd. It was initially a project of NHE rather than a separate legal entity.
The principle purpose of the organization was to promote the development of small businesses in Azerbaijan and reach out to Internally Displace Persons (IDP’s), micro-entrepreneurs and veterans.
Ganja Branch was the first branch established in 1999
The initial stage of development of Viator was headed by it first Executive Tor Knutsen from Norway.


2002
On December 30, 2002 Viator Microcredit Azerbaijan (Viator) was separated from NHE and registered with the Ministry of justice in Azerbaijan.
The registration and separation of the project from NHE was due to some legal changes and policy development in Azerbaijan.


2003
On September 30, 2003 Viator was registered under license # 136-QB in the central list of the National Bank of Azerbaijan (NBA) as a separate company from Norwegian Humanitarian Enterprise.
The operations expand in Sheki City - Shaki is situated in northern Azerbaijan on the southern part of the Greater Caucasus Mountain.


2005
Received a merit award in the CGAP financial transparency award.
Until mid-2005 grant funding was sufficient for Viator to continue to expand. But from that time onwards, grant funding has not been sufficient. This has forced Viator to start to seek other sources of finance. This in turn has forced many other good changes on Viator. Commercial investors demand a high level of transparency and check many areas of Viator’s operations that had previously not been held up to scrutiny.
Since mid-2005 Viator has implemented many changes in order to improve its transparency, governance and internal control. It has substantially improved its accounting systems. Internal control procedures are much stronger.
On May 2005 Viator employed a new Executive Director - Simon Bartlett joined


2006
Viator rated carried out by an international rating agency (Mikrofinanza) and was the first MFI in Azerbaijan to be rated.
Viator Expanded and opened a branch operations to Delimemmedli - situated in the Azerbaijan state of Goranboy.


2007
Expanded and opened a branch operations in Shemkir - It is located in the northwestern part of the Azerbaijan Republic.


2008
Expanded and opened a branch operation in Qazakh - a city in and the capital of the Qazax Rayon of Azerbaijan.


2009
Viator received the first commercial loan from Planet Finance amounting to 450,000 USD


2011
Expanded and opened a branch operation in Balaken - is rayon of northwestern Azerbaijan, located between Georgia and Russia.


2013
Viator hired a new Executive Director – Mr. Vencent A. Abraham from the Philippines an experience microfinance professional.
Introduced centralization of control and system and standardization of company policies and procedures.
Redefined loan products into Agricultural Loan, Small Enterprise Loan, Micro Entrepreneur Loan and Social Business Loan to fit the demand and requirements of the market.


2014
Viator has opened a new branch in Agdash, which is located in the north-west of the country.
Viator has established 3 programs: Microfin (credit program), FINLED (Financial Literacy and Education for staff, clients and students), CARE program – environmental project.
At the same time the company has applied for the SMART Campaign Client Protection Certification in order to be the first certified company in Azerbaijan. The company has been awarded with the MF Transparency Seal of Pricing Transparency in September, 2014.
VIator has been awarded as the BEST Member of the Year by AMFA (Azerbaijan Microfinance Assosiation).
The company has established its own Quarterly Newsletter.
Also Viator has celebrated the 15 years of its committed service to the clients.


2015
The company has changed the Executive Management and welcomed new CEO – Aynur Aliyeva, who has been with the company more than 10 years. She has started her career in Viator as the Finance Manager, continued as the Deputy Director and finally she has been appointed as the CEO of the company. Being an expert in the financial operations and having the International MBA degree she has lead the company during the hard financial crises, and worked towards keeping Viator on the top of success. The company has passed the SMART Campaign Client Protection Certification and been awarded the Certificate the SMART Campaign in Turin, Italy under the leadership of new Executive Management.
Viator Microcredit Azerbaijan has been honored to the AWARD of AMFA (Azerbaijan Micro Finance Assosiation) on the nomination of EDUCATING ITS CLIENTS on Financial Literacy.
Viator Microcredit Azerbaijan, in a partnership with Microfinance Center, has launched an international financial education campaign “Borrow Wisely” in October, 2015.


2016
The company has established the 2 new departments: Problematic Loans Department and Legal Department.
Viator has continued its environmental activities in the frame of CARE program. Lots of educational materials concerning the FINLED education for staff and particularly clients have been developed by the Research and Development Department.
Viator Executive Management has participated in the 12th Annual Global Microfinance Forum iin Berlin.
Viator has developed new loan product – Consumer loan.
Viator Microcredit has been awarded with the Certificate of Appreciation for the participation in the Borrow Wisely Campaign 2015