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Linking Up and Reaching Out in Bangladesh : Information and Communications Technology for Microfinance

Bagazonzya, Henry K; Safdar, Zaid; Abdullah, A.K.M; Niang, Cecile Thioro; Rahman, Aneeka
Fonte: World Bank Publicador: World Bank
Relevância na Pesquisa
37.55%
This book presents a new paradigm for introducing technology in the microfinance industry of Bangladesh that could help ameliorate current constraints. Under the new paradigm, a centralized Information and communication technology (ICT) platform will be established to serve the microfinance industry of Bangladesh and technology will be deployed more rapidly to Microfinance Institutions (MFIs) in all parts of the microfinance value chain, from the head office to branch offices, loan officers, and clients. Unlike in the traditional paradigm, the technology needs of all MFIs will be pooled together in one central office. The central office will offer technology tools, services, and know-how to MFIs throughout the country. Several benefits will be achieved under this new paradigm: i) because all technology needs will be pooled in one place, the central office will be able to exploit economies of scale and offer technology services to MFIs at a lower cost; and ii) because their technology needs will be outsourced...

Microfinance Tradeoffs : Regulation, Competition, and Financing

Cull, Robert; Demirgüç-Kunt, Asli; Morduch, Jonathan
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
37.51%
This paper describes important trade-offs that microfinance practitioners, donors, and regulators navigate. Drawing evidence from large, global surveys of microfinance institutions, the authors find a basic tension between meeting social goals and maximizing financial performance. For example, non-profit microfinance institutions make far smaller loans on average and serve more women as a fraction of customers than do commercialized microfinance banks, but their costs per dollar lent are also much higher. Potential trade-offs therefore arise when selecting contracting mechanisms, level of commercialization, rigor of regulation, and the extent of competition. Meaningful interventions in microfinance will require making deliberate choices - and thus embracing and weighing tradeoffs carefully.

Transforming Microfinance Institutions : Providing Full Financial Services to the Poor

Ledgerwood, Joanna; White, Victoria
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
EN_US
Relevância na Pesquisa
37.56%
In response to a clear need by low-income people to gain access to the full range of financial services including savings, a growing number of microfinance NGOs are seeking guidelines to transform from credit-focused microfinance organizations to regulated deposit-taking financial intermediaries. In response to this trend, this book presents a practical "how-to" manual for microfinance institutions to develop the capacity to become licensed and regulated to mobilize deposits from the public. This book provides guidelines for regulators to license and regulate microfinance providers, and for transforming microfinance institutions to meet the demands of two major new stakeholders -regulators and shareholders. As such, it focuses on developing the capacity of NGO microfinance institutions to mobilize and intermediate voluntary savings. Drawing from worldwide experience, it outlines how to manage the transformation process and address major strategic and operational issues inherent in transformation including competitive positioning...

Microfinance in Russia : Broadening Access to Finance for Micro and Small Entrepreneurs

Bossoutrot, Sylvie K.
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
EN_US
Relevância na Pesquisa
37.48%
Microfinance institutions of four types have emerged to meet the unfulfilled financing needs of micro-entrepreneurs: commercial banks, specialized NGO-type microfinance institutions, membership-based institutions (such as rural cooperatives and credits unions), and public funds. All four types have enjoyed significant growth in Russia in the past five years, but the industry is still at an early stage of development. Demand appears to far outweigh supply.

The Microfinance Revolution : Volume 2. Lessons from Indonesia

Robinson, Marguerite S.
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Relevância na Pesquisa
37.61%
This book focuses on how the demand for microfinance can be met on a global scale. It documents the contributions of institutions and of people who have led the development of commercial finance for the poor, and it analyzes the principles on which the microfinance revolution is based. In sum, this work offers a detailed overview of the development of microfinance over the past 20 years; a global view of microfinance in the developing world (largely excluding Eastern Europe); a thesis on the future path of microfinance; a coherent theory about microfinance--why it works when so many other development interventions fail; detail on a number of important microfinance topics--such as informal moneylending and savings; an important study on, and lessons from Indonesia, with detailed analysis of Bank Rakyat Indonesia; and, brief studies of many other microfinance institutions in Africa, Asia, and Latin America.

A Framework for Regulating Microfinance Institutions : The Experience in Ghana and the Philippines

Gallardo, Joselito
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
37.62%
An earlier Policy Research Working Paper (Hennie van Greuning, Joselito Gallardo, and Bikki Randhawa, "A Framework for Regulating Microfinance Institutions," WPS 2061, February 1999) presented a regulatory framework that identifies thresholds in financial intermediation activities that trigger a requirement for a microfinance institution to satisfy external or mandatory guidelines-a tiered approach to regulation and prudential supervision. The model focuses on risk-taking activities of microfinance institutions that must be managed and prudentially regulated. The author reports on the results of the field testing and assessment of the tiered approach, focusing on the experience of Ghana and the Philippines. The two countries both have a wide range of informal, semi-formal, and formal institutions providing financial services to the poor, but differ in how they regulate financial intermediation activities by microfinance providers. In his assessment and a comparative analysis, the author focuses on key issues in the regulatory and supervisory environment for microfinance-and in the legal system and judicial processes-being addressed by government authorities and microfinance stakeholders in both countries. He gives particular attention to the thresholds at which intermediation activities become subject to prudential regulation and regulatory standards for capitalization and capital adequacy...

Microfinance Consensus Guidelines : Guiding Principles on Regulation and Supervision of Microfinance

Christen, Robert Peck; Lyman, Timothy R.; Rosenberg, Richard
Fonte: CGAP and World Bank, Washington, DC Publicador: CGAP and World Bank, Washington, DC
EN_US
Relevância na Pesquisa
37.51%
Many developing countries and countries with transitional economies are considering whether and how to regulate microfinance. These guiding principles are formulated for the regulation and supervision of microfinance. This document is divided into five sections. The first section of the paper discusses terminology and preliminary issues. The second section outlines areas of regulatory concern that do not call for "prudential" regulation. The next section discusses prudential treatment of microfinance and Microfinance Institutions (MFIs). The fourth section briefly looks at the challenges surrounding supervision, and the final section summarizes some key policy recommendations.

Microfinance and the Global Financial Crisis

Kruiff, David; Hartenstein, Stephan
Fonte: International Finance Corporation, Washington, DC Publicador: International Finance Corporation, Washington, DC
Tipo: Trabalho em Andamento
EN_US
Relevância na Pesquisa
37.56%
For many years, microfinance has been the poster child of governments, policymakers, and international organizations with the goal of lifting millions of people out of poverty. The notion that microfinance can pursue and achieve the intertwined goals of development and financial profitability without friction predominated. This dual opportunity, combined with a huge untapped market for financial services at the bottom of the pyramid attracted large amounts of funding from international capital markets, triggering unprecedented levels of growth. Until the global financial crisis, the sustainability of the resulting market growth had not been significantly questioned. As the crisis unfolded during the end of 2007, there seemed to be consensus among microfinance practitioners, analysts, and other industry experts that this crisis will be different. The microfinance industry braced itself for anticipated liquidity crunches, increase in costs of funds, and foreign exchange, as well as a sharp rise in portfolio arrears. This paper will: review recent publications that have drawn conclusions on the effects of the global financial crisis based on empirical data research; draw the conclusion that proper governance and risk management systems are essential and can have avoided many of the problems specific microfinance institutions (MFIs) faced during the financial crisis; and highlight Basel framework sections relevant to MFIs and demonstrate how these can be applied to strengthen MFIs.

A New Index of the Business Environment for Microfinance

Cull, Robert; Navajas, Sergio; Nishida, Ippei; Zeiler, Renate
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
37.53%
This paper describes a new index of the quality of the business environment for microfinance institutions (the Global Microscope on the Microfinance Business Environment). Regressions are used to validate the index by linking it and its subcomponents to microfinance outcomes. The main findings are that the components of the index related to the supporting institutional framework are strongly linked to measures of microfinance penetration (such as microfinance borrowers as a share of total population). Components related to the framework for regulation and supervision are more strongly linked to outcomes at the microfinance institution level, including loan portfolio quality, financial self-sufficiency, average loan size, and the share of lending to women. Many, but not all, of these relationships are robust to using instrumental variables estimation in which a country's general stringency with respect to financial regulation is used as an instrument for the index and its components.

Bringing Microfinance Services to the Poor : Crediamigo in Brazil

Sanchez, Susana M.; Sirtaine, Sophie; Valente, Rita
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
ENGLISH
Relevância na Pesquisa
37.48%
Among policymakers and economists, there is a widely held perception that microenterprises1 face severe financing shortages that limit their growth opportunities. Resolving the problems of access to finance as well as the high cost of financing has become the main objective of many government programs. With a view to increasing access to credit for microenterprises in the Northeast Region of Brazil, the World Bank has supported Banco do Nordeste's CrediAmigo microfinance program since 1997. This note describes how Banco do Nordeste initiated CrediAmigo as part of its restructuring strategy and how the program has expanded to become the largest microfinance provider in Brazil. To date, many lessons have emerged, both from CrediAmigo and the World Bank project that supports the program. Brazilian private banks and non-bank financial institutions offer a variety of credit products targeted to micro and small enterprises. These products typically carry very high interest rates and require collateral. Banking networks also leave many areas...

Comparative Review of Microfinance Regulatory Framework Issues in Benin, Ghana, and Tanzania

Gallardo, Joselito; Ouattara, Korotoumou; Randhawa, Bikki; Steel, William F.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH
Relevância na Pesquisa
37.6%
The authors investigate the microfinance regulatory regimes in Benin, Ghana, and Tanzania, with a view to identifying key issues and lessons on how the overall regulatory framework affects integration of microfinance institutions into the financial system. The authors find that recognizing different tiers of both regulated and unregulated institutions in a financial structure facilitates financial deepening and outreach to otherwise underserved groups in urban and rural areas. That environment promotes sustainable microfinance under shared performance standards and encourages regulatory authorities to develop appropriate prudential regulations and staff capacity. Case studies of the three countries raise important issues on promoting microfinance development vis-à-vis regulating them. Laws to regulate activities other than intermediation of public deposits into loans can result in disproportionately restrictive and unmanageable standards, even as dynamic microfinance sectors have emerged without conducive regulatory regimes. The authors use the three countries' regulatory experiences to highlight the importance of differentiating when prudential supervision is warranted and when regulatory oversight suffices, and to identify the agencies to carry out regulation. They address an important issue that has received scant attention...

Are Pakistan's Women Entrepreneurs Being Served by the Microfinance Sector?

Safavian, Mehnaz; Haq, Aban
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Publications & Research :: Publication; Publications & Research
EN_US
Relevância na Pesquisa
37.6%
Fostering the entrepreneurship of women is important for Pakistan's economic growth and inclusion agenda, and access to financial services is an important component of starting and growing a business for women entrepreneurs. Most women?owned businesses are small, household?based cottage industries; microfinance products should be a natural source of start?up and working capital finance for this clientele. Microfinance portfolio data suggest that although Pakistan's sector has shown improvement in reaching women, it still lags its regional peers, only 59 percent of microfinance clients are women. The original purpose of this work was to determine whether women entrepreneurs have access to, and are using, microfinance loans as a source of finance for their businesses. However, the findings of the report go beyond the narrow objective of understanding whether microfinance institutions (MFIs) are reaching Pakistan's businesswomen. As the research unfolded, the evidence suggested that not only are women entrepreneurs not being served, but also that the outreach to women in general is potentially more limited than previously assumed and that the issues of consumer protection and responsible lending practices in Pakistan might merit further exploration. The report raises and addresses two distinct issues. First...

Microfinance and Moneylenders: Long-Run Effects of MFIs on Informal Credit Market in Bangladesh

Berg, Claudia; Emran, M. Shahe; Shilpi, Forhad
Fonte: World Bank, Washington, D.C. Publicador: World Bank, Washington, D.C.
EN_US
Relevância na Pesquisa
37.48%
Using two surveys from Bangladesh, this paper provides evidence on the effects of microfinance competition on village moneylender interest rates and households' dependence on informal credit. The views among practitioners diverge sharply: proponents claim that competition of microfinance institutions reduces both the moneylender interest rate and households' reliance on informal credit, while the critics argue the opposite. Taking advantage of recent econometric approaches that address selection on unobservables without imposing standard exclusion restrictions, this paper finds that microfinance competition does not reduce moneylender interest rates, thus partially repudiating the proponents. The effects are heterogeneous; there is no perceptible effect at low levels of coverage, but when microfinance coverage is high enough, the moneylender interest rate increases significantly. In contrast, households' dependence on informal credit tends to go down after they become a member of a microfinance institution, which contradicts part of the critic's argument. The evidence is consistent with a model where microfinance institutions draw away better borrowers from the moneylender, and fixed costs are important in informal lending.

The State of Microfinance in Central and Eastern Europe and the New Independent States

Forster, Sarah; Greene, Seth; Pytkowska, Justyna
Fonte: CGAP and the World Bank, Washington, DC Publicador: CGAP and the World Bank, Washington, DC
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
ENGLISH; EN_US
Relevância na Pesquisa
37.62%
This report is based on the first empirical study of the microfinance industry in Central and Eastern Europe and the New Independent States (CEE and NIS). The main source of its findings is a survey of the region's microfinance institutions (MFIs) and funders conducted in 2001 by the Microfinance Centre for Central and Eastern Europe and the New Independent States, headquartered in Warsaw, Poland. The study achieved its four main goals: 1) the creation of an empirically based, comprehensive picture of the current state of the microfinance industry in the region; 2) a comparison of the performance of the region's main organizational models for microfinance delivery credit unions, nongovernmental organizations (NGOs), 'downscaling' commercial banks, and 'Greenfield' microfinance banks; 3) an analysis of the main barriers to growth and development confronting microfinance in the region specifically, access to finance and legal and regulatory constraints; and 4) a framework for action for the region's various microfinance actors...

Microfinance Meets the Market

Cull, Robert; Demirgüç-Kunt, Asli; Morduch, Jonathan
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH
Relevância na Pesquisa
37.48%
Microfinance institutions have proved the possibility of providing reliable banking services to poor customers. Their second aim is to do so in a commercially-viable way. This paper analyzes the tensions and opportunities of microfinance as it embraces the market, drawing on a data set that includes 346 of the world's leading microfinance institutions and covers nearly 18 million active borrowers. The data show remarkable successes in maintaining high rates of loan repayment, but the data also suggest that profit-maximizing investors would have limited interest in most of the institutions that are focusing on the poorest customers and women. Those institutions, as a group, charge their customers the highest fees in the sample but also face particularly high transaction costs, in part due to small transaction sizes. Innovations to overcome the well-known problems of asymmetric information in financial markets were a triumph, but further innovation is needed to overcome the challenges of high costs.

Managing Risk and Creating Value with Microfinance; Pengelolaan risiko dan penciptaan nilai melalui pendanaan usaha mikro

Goldberg, Mike; Palladini, Eric
Fonte: World Bank Publicador: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
ENGLISH
Relevância na Pesquisa
37.51%
This report brings together the results of an eight-part series of presentations by leading experts in issues directly related to microfinance institutional sustainability. It is intended for microfinance institution (MFI) board members, managers, and staff members as well as for government regulators, supervisors, and donor staff members. The first four chapters include topics in risk management: (1) risk management systems, (2) good governance, (3) interest rates, and (4) micro-insurance. The last four chapters include four topics in new product development and efficient delivery methodologies: (5) housing microfinance, (6) micro-leasing, (7) disaster preparedness products and systems, and (8) new technologies. The objectives of the series were as follows: i) to strengthen MFIs by disseminating innovative approaches in risk management, cost control, governance, and new technologies; ii) to promote a South-South exchange of experiences and lessons learned; iii) to promote greater ties among the MFIs in the region and between MFIs and government supervisors and regulators; and iv) to highlight the Bank's ability to mobilize international technical expertise in microfinance.

Entrenched and (Un)spoken: Neoliberalism and Canadian Microfinance

Clow, Erin
Fonte: Quens University Publicador: Quens University
Tipo: Tese de Doutorado
EN; EN
Relevância na Pesquisa
37.53%
This dissertation focuses on microfinance in the Canadian context. While heavily documented in regions of the global South, information on microfinance within Canada is limited. Two interconnected research objectives are pursued within this dissertation. Given the scarcity of information on the basic characteristics of the sector, an on-line survey was first administered to microfinance organizations throughout Canada (N=35). Information collected through the on-line survey includes details regarding the structure, size, scope and target borrowers of Canadian organizations. The second research objective investigated within this dissertation critically examines microfinance and its connections to the principles and theories of neoliberalism. Semi-structured interviews with three microfinance stake-holder groups (employees, volunteers and borrowers) (N=33) were conducted in an effort to obtain information relating to the reproduction of neoliberalism within microfinance organizations. In this dissertation, particular attention is paid to the outcomes associated with neoliberalism, where gendered individuals (i.e. women) are rendered invisible and therefore deemed “unworthy” of support while simultaneously, certain racialized bodies are positioned as providing economic utility to the state and as such are deemed “worthy” of support (Jenson 2009; Dobrowolsky 2009; Bauder 2008 and Duggan 2003; Abu-Laban and Gabriel 2008). Research for this dissertation indicates that the theories of “roll-back” and “roll-out” neoliberalism are manifested within Canadian microfinance organizations (Peck and Tickell 2003 and Peck 2010). Deviating from the norm within microfinance organizations in the global South...

La microfinance au coeur d'une géographie du genre renouvelée au Mexique?

Maheu, Josiane
Fonte: Université de Montréal Publicador: Université de Montréal
Tipo: Thèse ou Mémoire numérique / Electronic Thesis or Dissertation
FR
Relevância na Pesquisa
37.65%
Le développement des sociétés à travers le monde est influencé par des dynamiques de pouvoir social. D’une perspective de genre, les relations patriarcales ont contribué à la réorganisation du développement par un accès inégal aux ressources, à l’espace et à la mobilité. La société mexicaine, caractérisée par un fort patriarcat et une pauvreté endémique, a vu émerger de multiples outils de développement pour pallier aux inégalités de genre. Plus récemment, les programmes de microfinance sont devenus un instrument de choix pour lutter contre la marginalisation des femmes et les inégalités de genre. La littérature scientifique présente des lacunes au sujet de la nature des relations de genre dans les ménages qui bénéficient de la microfinance. Plusieurs études portent sur les impacts de la microfinance sur la vie des femmes, mais peu offrent une vision holistique considérant la microfinance comme un outil de développement capable de changer la nature spatiale des inégalités de genre. Cette recherche est basée sur une comparaison qualitative de deux études de cas de groupes de microfinance de San Miguel Tenextatiloyan et d’Émilio Carranza, deux communautés de la Sierra Norte de Puebla (Mexique). Son objectif principal est d’évaluer le degré selon lequel les programmes de microfinance ont changé la place des femmes dans la société. Pour répondre à cette question...

Is going public a good path for microfinance institutions ? : a case study analysis of SKS's IPO and its post-issue performance

Reis, Ana Sofia Rodrigues Peres Ramos
Fonte: Universidade Católica Portuguesa Publicador: Universidade Católica Portuguesa
Tipo: Dissertação de Mestrado
Publicado em 12/06/2012 ENG
Relevância na Pesquisa
37.56%
Companies go public in order to obtain more attractive financing prices from stock markets in exchange for the promise of delivering profits to the investors who buy their stock. Microfinance Institutions (MFIs) aim at alleviating poverty in the society by providing the poor with opportunities for the creation and development of income generating activities. The uprise in the number of connections between capitalist interests and social ones originated several discussions and controversies among the microfinance community. This paper presents SKS Microfinance IPO, which was the first Microfinance Institution in India to go public. The IPO was a success and so were the ensuing 5 weeks. However, soon afterwards a crisis was triggered in the industry, making SKS’s value fall enormously. In this study it is our goal to understand the reasons behind SKS’s performance and whether going public is a viable path for Microfinance Institutions. Our analysis focuses on the internal and external factors behind the company's market performance, its operational evolution, and its position relative to its peers. We discover that the factors influencing SKS performance were specific to its managerial distress and to external conflicts arising in the sector. With strategic coherence and market transparency we believe there is an open way for MFIs to go public.; Les entreprises s'introduisent en bourse afin d'obtenir du financement à un meilleur prix sur le marché. En échange...

Beyond Making Ends Meet: Urban Refugees and Microfinance

Sylvester, Abigail
Fonte: Universidade Duke Publicador: Universidade Duke
Tipo: Masters' project
Publicado em 22/04/2011
Relevância na Pesquisa
37.51%
The purpose of this paper is to determine the types of programs, partnerships and policies UNHCR should support to improve microcredit and microsavings for urban refugees in the informal economy. I set out to accomplish this purpose in partnership with the Women’s Refugee Commission, an evidence-based advocacy organization that advocates vigorously for laws, policies and programs to improve the lives and protect the rights of refugee and internally displaced women, children and young people, including those seeking asylum—bringing about lasting, measurable change. Though independent, WRC often collaborates with UNHCR and other stakeholders to determine better practices and approaches for protecting refugees, especially women and youth. There are approximately 10.5 million refugees worldwide, more than half of who live in urban areas and only a third in camps. Refugees in protracted situations make up 68% of the refugee population, meaning they are not sure when or if they will return home. The average length of their displacement is 17 years, hardly a length of time appropriate for short-term, humanitarian interventions. The trend of urbanization does not apply exclusively to refugees. More than half of the world’s population lives in urban areas...