IDF Eurasia (Solva brand) is on track to become the first SME-focused bank in Kazakhstan. OnlineKazFinance completed its transformation from a Limited Liability Company into a Joint Stock Company in December 2022, which was one of the final steps to prepare for the banking transformation. IDF Eurasia (Solva brand) finalized its new Board of Directors with 3 Non-Executive Directors. This board includes Mr. Michael Weinstein, a former senior banker at the European Bank for Reconstruction and Development, with the goal of a raise in transparency. The conversion process from MFI into a bank is expected to be finalized in Q3, 2023. The company enhanced its corporate governance and client protection efforts by restructuring its Ombudsman and quality control department to be supervised directly by the Board of Directors. The Board of Directors was fully restructured and now consists of 5 members, with 4 being independent. In late 2022 and 2023, the company joined CISRE and SPTF global initiatives, and is now on the list of committed providers. IDF Eurasia (Solva brand) became the first Kazakhstan company to join the 2-time global initiative on women financing to advance a gender-responsive approach and to gain additional access to the international impact community. IDF Eurasia (Solva brand) significantly enhanced and formalized its ESG agenda, with a focus on inclusive finance and client protection.