Board of Trustees

Makhkamova Gulbakhor – Chair of the Board of Trustees

Makhkamova Gulbakhor has over 25 years of professional experience in community mobilization and social development work, with a focus on young people, poverty reduction, and women’s empowerment. Founder, CEO, and later Board Chair of the NATIONAL ASSOCIATION OF BUSINESS WOMEN OF TAJIKISTAN, one of the first non-profit membership organizations in Tajikistan, uniting more than 3500 women entrepreneurs.
She has over 20 years of practical experience in capacity-building for financial institutions and SMEs, in areas such as strategic and business planning, sales and marketing, risk management and internal control, stakeholder engagement, internal audit, compliance and corporate governance. Gulbakhor Makhkamova graduated from Khujand State University with an honors diploma in finance and banking and also completed the international educational program “Leadership for Sustainable Development” and the Regional Scholar Exchange Program ACCESS at Columbia University, Harriman Institute. She has participated in various professional trainings, including: Women and Sustainable Development by LEAD International, Moscow; Women and Social Life, OSCE; Business Planning and Financial Modeling by the Microfinance Center of Poland, Tbilisi, Georgia; and Client Impact Assessment Workshop by the SEEP Network, Washington, D.C.; among others. In addition, Gulbakhor received a science degree for Candidate of Sciences (PhD), and has published her work in more than ten publications. Gulbakhor is also very dedicated to helping women become successful entrepreneurs. She is the Сhair of the Management Board of National Association of Business Women of Tajikistan (NABWT), which provides professional training for women, especially from vulnerable households on a very poor income.

Mahmudova Firuza – Member of the Board of Trustees

Firuza Makhmudova has almost 20 years of experience in various organizations. She graduated from the Tajik State University of Law, Business and Politics, then entered graduate school and in 2011 received the degree of “Candidate of Economic Sciences”. From 2010 to the present, she has worked in the National Association of Business Women of Tajikistan. For about 5 years she was a Revision Committee of the IMON INTERNATIONAL, since 2018 she has been a member of the Supervisory Board of the Micro Loan Fund IMON. In addition to her professional activities, she is engaged in scientific work, is the author of more than 10 articles and scientific papers. Firuza advises and is the supervisor of young students.

Lloyd McCormick – Member of the Board of Trustees

Lloyd McCormick has over twenty years of experience in international development project design and implementation with a focus on economic and youth development; as well as microfinance programs. Mr. McCormick also has substantial experience in private sector business management, which includes decision-making and control functions in the fields of marketing, human resource management, finance, quality control, production chain, purchasing and customer service. He has a degree in “Management and Business Administration” from the University of Northern Colorado. It should be noted that Lloyd McCormick stood at the origins of establishment and development of the first microfinance institutions in Tajikistan

Ayubjon Yusupov – Member of the Board of Trustees

Ayubjon Yusupov (PhD) is an assistant professor in the Department of World Economy, and specialist of the International Department of Institute of Economy and Trade, where he teaches undergraduate and graduate English classes on Economics, and Math.
The U.S. Department of State selected Dr. Ayubjon Yusupov, a Tajik alumnus of the Bureau of Educational and Cultural Affairs’ (ECA) Regional Scholars Exchange Program (RSEP), as State Alumni Member of the Month (2011). Dr. Yusupov developed an innovative economics curriculum for Tajik State University of Commerce (TSUC). Students at the university now complete a series of dynamic economics courses in the English language, providing them with the tools to engage cooperatively with the United States and other countries over the course of their lives.
He implemented Junior Achievement (JA) Worldwide entrepreneurship, work readiness and financial literacy programs around the country. With funding from the United States Agency for International Development, the Organization for Security and Cooperation in Europe, Mercy Corps, the Eurasia Foundation, and the World Bank, he started JA Worldwide programs in 250 Tajik schools. In addition, he involved as consultant of WB group in Tajikistan (2015) to feasibility study to establishment of a business incubator in Khatlon region to support startups, especially youth of both genders, returning migrants and disabled segments of the population.


Ilhom Gulomjanov – a member of the Board of Trusteesй

Ilhom Gulomjanov is a graduate of Khujand State University and has a degree in English linguistics. Ilhom began his career in 1995 at the faculty of foreign languages ​​at the same university as a teacher. In 1996, Ilhom became one of the founders of the local non-governmental organization “Ittifoq”, in which he worked as an Executive director and led youth projects. Since 1998, Ilhom has been working in the French non-governmental organization ACTED, where he began working as a program officer and currently heads the organization’s branch in the Sughd region. As part of ACTED, Ilhom, in collaboration with governmental and non-governmental institutions of Tajikistan, Uzbekistan and Kyrgyzstan, led and oversaw various projects aimed at rural and economic development in the Farghana Valley region. Ilhom also supervised projects to support the rural population through microcredit programs and headed one of the local MFIs, Rural Financing and Development. In 2008, he was a member of the Board of Directors of OXUS Microfinance in Kyrgyzstan. Since 2008, Ilhom was appointed director of the branch in the Sughd region to coordinate ACTED programs in the region. As the program coordinator at ACTED, Ilhom seeks to integrate microfinance into various development tools, strengthening the capacity of MFIs in Kyrgyzstan and Tajikistan to meet the needs of the most vulnerable segments of the population in order to combine opportunities to meet humanitarian needs, taking into account existing best practices. In recent years, as part of EU-funded development projects, Ilhom has initiated a dialogue between MFIs in Kyrgyzstan in collaboration with the Association of Microfinance Institutions of Kyrgyzstan (AMFI) to develop approaches that are adapted to the needs of vulnerable populations. A similar process was launched in Tajikistan in collaboration with AMFOT. Until now, Ilhom Gulomjanov is the director of the ACTED branch in the Sughd region.

Maqsudi Anvar Temurzoda – a member of the Board of Trustees