The Alternative Financial Services Association of North Macedonia
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Closer with AFD members: M Cash – Interview with Riste Gligorovski, CEO of M Cash Macedonia

Who are M Cash Macedonia?

M Cash Macedonia is the first online financial company in Macedonia that disrupted the traditional ways of financing the population and is establishing itself as a pioneer in the microfinance market. We are driven by technology, innovation and customer care. M Cash Macedonia is the founder of the fintech industry in Macedonia and since 2014 allows its customers to quickly, easily and comfortably obtain financial resources through modern technologies and in accordance with the principles of responsible and ethical lending. From 2018, M Cash Macedonia is present throughout the country with 24 Stores of Money. M Cash Macedonia is part of the Financial Management Group (MFG), a group that brings together leading providers of non-banking financial services in Central and Eastern Europe.

M Cash Macedonia offers a series of small loans from 3 to 70 thousand denars that can be repaid once or in installments, monthly or biweekly, depending on the desire of customers. Loans are unsecured and only an ID card or passport is required to apply. Interestingly, we offer the opportunity to provide loans with a guarantor, which makes them much cheaper and much more competitive than other financial products on the market. All our products are designed for the benefit of the customers and we strive for our service to be as comfortable as possible for them, always putting transparency in the communication of the offers in the first place.

Why is M Cash Macedonia a member of AFD?

The idea of ​​establishing an AFD arose as a result of the development of the fintech industry in Macedonia. We considered it necessary to jointly set the framework and standards in the relatively new industry, in order to provide an easy and fast, but above all a clear and transparent way of alternative financial resources for almost all citizens. In addition, we believe that one of the basic functions of AFD, ie increasing the financial literacy of citizens, will lead to a higher level of information among consumers, and thus increased confidence in non-banking financial institutions. Additionally, what sets us apart is the Responsible Creditor seal, which guarantees higher consumer protection when they notice the seal of the Association.

What are the challenges of the coronavirus for financial companies in general and specifically for M Cash Macedonia

2020 has proved to be the most challenging year for all businesses. The times in which we live have forced us to reconsider our priorities and our way of life. During the pandemic, we had to rework our business, our community, our family. Our homes have become offices, from where we have been supporting our colleagues who were in the Stores for Money, along with our clients. In the past few months, as part of MFG, we have been able to meet the expectations of our customers, to offer relief and reassurance to all those in need, to provide jobs inside and outside the company. We are proud to be among the companies that have taken early action to protect both our customers and our partners.

What are the company’s plans for the next period?

Our mission has always been to provide access to financial resources for all people. That hasn’t changed, of course. It is our duty to ensure that the most vulnerable of our fellow Macedonians receive the financial resources they need and feel comfortable and at ease in this unusual situation. Responsibility and empathy are key for M Cash Macedonia and this crisis has proved it once again. Of course, we had to take certain steps to ensure the business continuity and security of our colleagues and our customers. In addition, we have taken steps to relieve our most vulnerable customers and ensure that they can meet their challenges throughout this situation. In other words, we are constantly adapting to everyday changes, carefully following the world’s and domestic expert advice.