AMAS initiated the process for opening a new microfinance deposit-taking institution (MDI) in Monrovia, Liberia in 2011. Diaconia MDI was registered as a limited liability company in Liberia in December 2012, and received the license in august 2014. However, due to the Ebola outbreak, the bank opened for clients in March 2015.
To be a leader in the socio-economic development efforts of the people of Liberia
To offer inclusive, customer-driven financial services that embolden the poor to pursue their dreams
Operations will begin in Monrovia, and after an initial period of approximately two years, extend into other under-served areas of Liberia.
Diaconia MDI is based on the Christian diaconal principle of service to those in need. The purpose of the institution is to improve the livelihood of the poor by developing inclusive financial services to micro, small and medium-sized enterprises in order to transform lives, build communities, and expand opportunities.
The success of the bank shall be based on the following main objectives
Operational and financial sustainability
Loan portfolio quality
Number of clients served
Job creation in enterprises served
"DMDI is the first deposit taking institution (MDI) to be issued a license by the CBL since the issuance and publication of the Regulation in August, 2012. The entry of Diaconia into the financial sector is a further boost to the financial sector."
It is proposed that a minimum of 51% of the shares will be owned by AMAS. National shareholders in Liberia are invited to invest up to 17% of the share capital, while we invite others to own up to 32% of the share capital.
For many years, through its microfinance institutions, AMAS has gained substantial expertise in establishing MFIs in challenging markets. One most experienced loan officer from Diaconia-Frif in Bolivia will be part of the start-up team in Liberia.