You are currently browsing the monthly archive for July 2009.
> Posted by Nick Wolf
The Six Principles of Client Protection were designed to be applicable to MFIs around the world, but while the principles themselves are universal, methods of achieving them vary widely. In researching different countries’ financial regulatory environments for the Client Protection Library, I’ve seen that there’s no single way to build a financial consumer protection system. The United States’ system is different from Colombia’s, Colombia’s system is different from Ghana’s, and on and on. Each country does it differently, and each system has aspects that you won’t find anywhere else.
In Brazil, responsibility for financial consumer protection is shared by the central bank, the Justice Ministry, and small, innovative agencies known as PROCONs. PROCONs can be state or municipal bodies and they work with the judicial system to resolve conflicts between consumers and companies. These agencies illustrate an effective implementation of Principle 5, by offering consumers an avenue to redress their grievances with companies.
Read the rest of this entry »
> Posted by Kelley Mesa
The Center’s website is now available in Spanish. Check us out: http://espanol.centerforfinancialinclusion.org.
El website del CFI ahora está disponible en español. Visítenos: http://espanol.centerforfinancialinclusion.org.
> Posted by Kanika Metre
Yesterday, ACCION International announced that it will serve as the official sponsor of a new conference examining the latest microfinance investment strategies. The conference, ‘Microfinance for Institutional Investors,’ will be held in Washington, DC from September 21-23.
In addition, ACCION will be sponsoring a book-signing breakfast at the conference, on Tuesday morning, September 22, at which Elisabeth Rhyne, author and managing director of the Center for Financial Inclusion at ACCION, will highlight new case studies from her recently-published Microfinance for Bankers and Investors.
Click here, to read the official press release.
> Posted by Kelley Mesa
This summer a group of Dartmouth undergraduate students are working at The Tuck School of Business in coordination with the Center’s “Financial Inclusion 2020 campaign.” Through the Paganucci Fellows program, these students are working together to explore the state of financial inclusion through creating “scorecards” that define and paint a picture of financial access in various countries around the world.
You’ve already heard from Kal Kuchimanchi , the fellowship program manager, now let’s meet a few of the 2009 Paganucci Fellows…
Yang Wei Neo (Philosophy, 2012)— I grew up in Singapore, and prior to coming to Dartmouth I worked in the Singapore Navy for two years. I became interested in microfinance after attending a conference on social entrepreneurship that Ashoka organized back in Singapore. Significantly, I was impressed with the tangible results that can be achieved by marrying business efficiency with social aims. Thus, when the Paganucci Fellows Program presented itself, I jumped at the opportunity – it was to me a marvelous experience to deepen my understanding of the topic and to make a real contribution to this important industry. Read the rest of this entry »
> Posted by Kelley Mesa
The next stop in Elisabeth Rhyne’s book tour will be at the Microfinance Club of New York THIS Thursday. Come hear her talk about Microfinance for Bankers and Investors…
When: Thursday, July 30, 6:30-8:00pm
Where: Deutsche Bank, 60 Wall Street, 47th Floor, New York, NY 10005
The event is free to MFCNY members, $10 for everyone else. For more information and to RSVP, click here.
> Posted by Kelley Mesa
Elisabeth Rhyne
Last week the Center for Financial Inclusion hosted a book discussion with author, and our own fearless leader, Elisabeth Rhyne. Following, I had the opportunity to get her thoughts on some of the book’s main themes and lessons…
Question: What was your purpose for writing the book?
Elisabeth Rhyne: The purpose was to attract the private sector to become involved in inclusive finance.
Over the last 20 years, microfinance has proven that microfinance is a viable business proposition. I spent most of my career promoting this idea myself. We started with microcredit, provided by a small, close-knit community of institutions. Then, adding savings and turning NGOs into regulated microfinance institutions, we evolved into microfinance. Today, we are taking the next broader step, to financial inclusion—pursuing the proposition that all low-income individuals should have access to a suite of high-quality financial services. I believe that in order for this to happen we need to move from a narrow view of microfinance into one where private sector players have a role and a responsibility. Read the rest of this entry »
> Posted by Kanika Metre
Check out this profile of Banex’s commitment to putting into practice the Six Principles of Client Protection:
- Avoidance of over-indebtedness
- Transparent pricing
- Appropriate collection practices
- Ethical staff behavior
- Mechanisms for redress of grievances
- Privacy of client data
The Center for Financial Inclusion, CGAP, and many industry players recognize the need to protect microfinance clients, both for their benefit and the benefit of the industry as a whole. To learn more, check out the Campaign for Client Protection in Microfinance.
> Posted by Kelley Mesa
Blog Financial Maverick posted a “Day in the Life of a Microfinance Banker” yesterday. Financial Maverick follows Sanjena, a Swadhaar FinServ Relationship Manager in Mumbai, as he goes through his daily rounds and ends the day with an ACCION International training session.
08:25 Morning stroll to the office
On his way through Bhandup, a major suburb of Mumbai, Sanjena is greeted by many nods and smiling faces. As a relationship manager at Swadhaar FinServ, one of the very few microfinance institutions (MFI) operating in the megacity of Mumbai, Sanjena is known by many people in this community. In the small office he shares with four other relationship managers at the Bhandup branch office, Sanjena sits down to plan the day which… Read more >
> Posted by Kanika Metre
We just stumbled upon this blog post at myKRO.org on a recent interview with Silicon Valley Microfinance Network‘s Interim Executive Director, April Newman. Check it out to learn more about why the Silicon Valley is so significant for Microfinance and what work the Silicon Valley Microfinance Network has been up to!
The Bay Area and Silicon Valley have the technology, expertise, and venture capital of few other places in the world. Social entrepreneurship is quite vibrant in the Bay Area as well. If you think about MicroPlace or Kiva, they were both born here and that doesn’t seem to be a coincidence because they bring together elements of investing, technology, social entrepreneurship and microfinance.
To read more, click here.
If you’re going to be in the Bay Area this September, be sure to keep on the look out for an upcoming book event hosted by the Silicon Valley Microfinance Network featuring Elisabeth Rhyne and her latest book, Microfinance for Bankers and Investors!
> Posted by Kelley Mesa
CGAP’s annual photograph content is now open for 2009 entries. Visit www.cgap.org/photocontest to enter your photos or see images from the past contest.
Entries from photographers of all levels and every region of the world over the past three years have been shared and exhibited in different venues around the world. Winning photos from last year’s contest are currently on display at Citigroup Centre in London.
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