The Asian Development Bank project “Rural Financial Institutions” played a decisive role in the formation of the credit union. As part of the implementation of the project, the credit union received significant technical and financial support through the established Financial Company for the support and development of credit unions in the Kyrgyz Republic. KS "ABN" was the first among credit unions to receive an international financial and social rating in 2008 and 2010 with a rating of BB- and BB+, respectively. The main partners of the Credit Union in terms of the resource base were MEC Oikocredit (Holland), MCC Frontiers (Kyrgyzstan), OJSC FKKS and local commercial banks.

For further development in the microfinance services market, the participants of the ABN CU at an extraordinary general meeting on January 31, 2014 decided to reorganize the FC Credit Union ABN in the form of transformation into the Open Joint Stock Company Microfinance Company ABN. Re-registration of the IFC ABN was carried out on October 09, 2014 in the Office of the Justice of the Talas Region of the Kyrgyz Republic, the registration number 89578-3301-OOO was assigned, the Code of OKPO 22250602, the identification tax number 02810199810206. Under the transformation of the ABN MFN, all participants in the credit union, respectively, became the lawyers . After the reorganization of the IFC, ABN received a new license of the National Bank of the Kyrgyz Republic (hereinafter referred to as the NBKR) No. 007 dated October 20, 2014 for the right to conduct certain banking operations in national currency; after changing the legal address, the license of the National Bank of the Kyrgyz Republic was reissued on June 8, 2016: Issuance of secured and unsecured microloans. Purchase and sale of debt obligations (factoring). In 2016, a decision was made to change the legal address to Bishkek, 4th microdistrict, building 35/1, in accordance with which the Company was re-registered with the Chui-Bishkek Department of Justice on May 10, 2016.

On April 25, 2017, the Company received an additional license from the National Bank of the Kyrgyz Republic for the right to conduct certain banking operations in foreign currency No. 007/1 with the right to issue secured and unsecured microloans and purchase and sell foreign currency on its own behalf. However, given the prevailing currency risks in recent years and the limitation of resources in foreign currency, in fact the Company did not provide services for exchange transactions, nor did it issue loans in foreign currency.

From the beginning of 2020, the Company began the negotiation process to attract a major international investor into the Company’s capital. The ABN team has been preparing for this strategic step for many years, gradually introducing international corporate governance standards, to confirm the Company’s financial statements, an external audit was carried out by internationally recognized auditing companies, effective interaction with international financial funds, the introduction and improvement of automated software, participation in international forums for microfinance organizations. Due to the outbreak of the pandemic in March 2020, the negotiation process took longer than expected, however, the process was completed in July 2021, when the main shareholders of LOLC Holdings and IFC ABN, in Bishkek, signed investment agreements. LOLC Holdings is an international conglomerate with a total operating experience of 35 years, and activities in the international financial market since 2007. LOLC Holdings has strategically diversified itself into key economic growth sectors including financial services, leisure, agriculture, construction, manufacturing and trading, technology, research and innovation, and strategic investments. Companies included in the LOLC group are present on the continents of Asia and Africa, in Singapore, Sri Lanka, Cambodia, Myanmar, Indonesia, the Philippines, Pakistan, Zambia, Zimbabwe, Nigeria, Tanzania, Malawi, Egypt, Kenya, Sierra Leone, Maldives, Mauritius and Tajikistan.

In March 2022, the Annual General Meeting of Shareholders of the Company decided to increase the authorized capital of the Company after its registration and having passed all stages of approval required by the legislation of the Kyrgyz Republic in the National Bank of the Kyrgyz Republic, the Financial Supervision Service for Financial Markets in October 2022, LOLC Holdings through its subsidiaries became the parent company of IFC ABN with a controlling stake of 60.4%. Throughout its activities as an open joint-stock company, the general meeting of shareholders of IFC ABN, in accordance with the requirements of the legislation of the Kyrgyz Republic and organizational necessity, introduced changes to the Charter of IFC ABN, the last re-registration of the Charter of IFC ABN was carried out on December 5, 2022 in the Chui-Bishkek Department of Justice - certificate of state re-registration of a legal entity series GPYu No. 0057205.