Full details of Moris Rasik’s operation can be found at the Mixmarket information service.

Audited Annual Accounts


Credit Rating Reports

31 May 2012

The transformation process to prepare Moris Rasik for its new life as a registered and supervised Other Deposit Taking Institution (ODTI) took another important step with the signing of a three-year grant agreement with the International Finance Corporation (IFC) — a member of the World Bank Group.

IFC’s support for the wide-ranging and profound changes to be made in upgrading all aspects of Moris Rasik’s operations is a vote of confidence in the future of inclusive financial services in Timor-Leste.
As the country’s economic development is expected to focus on the significant role of the SME sector in providing pro-poor opportunities, access to finance is an essential element.

As an ODTI, Moris Rasik will play an important part in the evolutionary process of our rural citizens as they move from a subsistence to market economy.

15 May 2012

We are very pleased to have once again the continuing support of the New Zealand Aid Programme (NZAid), by having today signed a grant funding agreement for a major extension of the financial literacy training activity piloted over the past two years.

With the overarching goal of empowering and educating women in rural Timor-Leste to improve the way they manage their money and to develop skills in building their microenterprises, the activity aims to facilitate increased household income and, consequently, community wellbeing.

In addition to incorporating the lessons learned from the previous two pilot phases, in this new five-year programme Moris Rasik will concentrate on supporting microenterprise growth based upon agriculture.
This strategy reflects both the important role women play in small-holding food production in Timor-Leste and the need for improved nutrition and food security.

Being consistent with the national emphasis on the role of a strong small & medium enterprise presence in the Timor-Leste economy, we are confident the investment of the US$2.6 million grant from NZAid into the skills and knowledge required to increase the productivity and profitability of family-based farming will make a significant contribution to our country’s development.

Moris Rasik has engaged the expertise of World Education as our implementing partner.  A US-based private voluntary organisation, World Education has been active in environmental education, community development, maternal & child health, school governance, integrated literacy, small enterprise development, HIV & AIDS education and prevention & care, and refugee training since 1951.

March 2012
Moris Rasik has commenced a wide-ranging and intensive process of change in its legal status and operations.  This is to comply with new Central Bank of Timor-Leste regulations requiring all non-bank financial institutions to seek registration and licensing as an “Other Deposit Taking Institution” (ODTI).

The key structural change for Moris Rasik will be the formation of a limited liability company to hold the ODTI licence, leaving the current Moris Rasik Foundation with the implementation of various non-financial projects — currently financial literacy and renewable energy.

The core component of Moris Rasik’s operational changes is the purchase and installation of a full-feature retail banking software platform.  The new tool will provide the basis for both improving the efficiency and productivity of current services to clients and the introduction of new savings & lending services as Moris Rasik grows to meet clients’ changing needs.

The combination of Moris Rasik’s decentralised branch structure — reflecting our commitment to serving the rural poor — and the notoriously unreliable state of Timor-Leste’s communications infrastructure, creates a major challenge for the installation of a management information system that integrates the delivery of services to clients with central analysis and reporting.

Moris Rasik is fortunate to have the support of the UNDP/UNCDF INFUSE programme for this strategic development.

Market Trading helps many families