OI China PRAYER LETTER March 2012
"I will praise thee: for thou hast heard me, and art become my salvation. The stone which the builders refused is become the head stone of the corner. This is the LORD's doing; it is marvellous in our eyes. This is the day which the LORD hath made; we will rejoice and be glad in it." ~ Psalm 118:21-24 (KJV)
Praise the Lord! OI China received the First Prize Award for being the Most Outstanding Financial Institution in Suyu District, Suqian City in 2011. The Award came along with RMB 322k prize (approx. USD 51k).
Mr Fan Songzhu, a small convenient store owner who came to OI China for loan and became our first micro-insurance policy holder at the same time. OI China introduced micro-insurance service to protect clients from accidents during the loan term in Feb., 2012.
Praises & Thanksgivings: •
Praise the Lord for the wonderful Award received from the Suyu District Government, Suqian City for being the Most Outstanding Financial Institution of 2011. This Award recognises the financial excellence and professional operation of Micro Credit Company (MCC) in the District. It is also recognition of the contribution OI China made to the financial industry of the City of Suqian, Jiangsu Province.
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Thank God for the smooth launch of micro-insurance business in Suqian by OI China. The project team has been working for 8 months for the preparation and product development of this new financial service. The micro-insurance product is jointly developed by OI China and the China Pacific Life Insurance Company. For the time being, OI China has only launched one of a series of insurance products to protect clients, their families and OI China from any accidents during the term of the loan. This product helps to reduce risk for our clients and their families. While micro-insurance is still rare in China, this service is like a champion in the rural financial industry in China.
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Thanks to our God, OI China in Suyu has renewed our office lease with the Suyu District Government recently for another two years. As a result of the visit of our chairman Mr Geoff Kells AM, in last October, the local government has promised to waive the rental for OI China as a token of their appreciation of the impact we made to the local community. OI China and the officials signed the lease with no rental for two years.
Prayer Requests: •
Please pray for the preparation of the operation and opening ceremony of OI China (Huai’an) Rural Micro Credit Company Limited. The Board and VIP will be visiting China for the opening of the operation in Huai’an later in March. The opening ceremony will be held on Thursday, 29 March.
OIC Consolidated Statistics Loans Issued in USD Job Impact (Created / Sustained) Training & Coaching (person / hr)
2008
2009
2010
2011
2,844,534 6,277 2,093 / 3,682
3,729,753 17,817 2,146 / 6,610
6,369,255 20,982 2,000 / 5,998
8,165,500 37,013 2,412 / 7,951
2012 YTD (31 Jan) 508,343 2,685 34 / 231
PrayerLetter 1203 www.opportunity.org.hk