Public Finance

Download Transforming Microfinance Institutions: Providing Full by Joanna Ledgerwood PDF

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By Joanna Ledgerwood

In accordance with a transparent desire through low-income humans to realize entry to the complete variety of monetary providers together with discount rates, more and more microfinance NGOs are seeking for instructions to rework from credit-focused microfinance businesses to regulated deposit-taking monetary intermediaries. in accordance with this pattern, this e-book offers a pragmatic 'how-to' guide for MFIs to enhance the ability to develop into authorized and controlled to mobilize deposits from the general public. 'Transforming Microfinance associations' presents directions for regulators to license and keep watch over microfinance prone, and for reworking MFIs to fulfill the calls for of 2 significant new stakeholders—regulators and shareholders. As such, it makes a speciality of constructing the ability of NGO MFIs to mobilize and intermediate voluntary rate reductions. Drawing from world wide adventure, it outlines how one can deal with the transformation technique and tackle significant strategic and operational matters inherent in transformation together with aggressive positioning, company making plans, having access to capital and shareholders, and the way to 'transform' the MFI's human assets, monetary administration, MIS, inner controls, and department operations. Case reports then offer examples of constructing a brand new regulatory tier for microfinance, and the way a Ugandan NGO remodeled to develop into a certified monetary middleman. This e-book should be priceless to regulators and microfinance NGOs considering institutional transformation and should be of large use to donors and technical help corporations helping MFIs of their transformation.

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Extra info for Transforming Microfinance Institutions: Providing Full Financial Services to the Poor

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3 the number of loan clients served has clearly increased, and savings clients have been added by transformed MFIs. These numbers demonstrate a significant increase in clients served by the transformed MFIs. 7 Performance Monitoring—Local Initiatives One example of a local initiative to standardize information is the Performance Monitoring Tool (PMT), developed jointly by donors, practitioners, and other stakeholders in the microfinance industry in Uganda. All MFIs and all donors active in microfinance in Uganda have agreed to use the PMT and thus have agreed on standard report formats, definitions for financial and outreach data, indicators for analysis, and ratio calculation methods.

While in many countries becoming a licensed financial institution is necessary to access commercial sources of funds (even if the license does not necessarily allow for intermediation of public deposits), this is not always the case. Experience in Uganda has shown that commercial banks provide wholesale lending to MFIs frequently even if the MFI does not have a license, provided that the MFI is self-sustainable and can assure the bank of its ability to repay the loan, and more often than not, qualify under some type of guarantee facility.

In India, for example, a Non-Banking Financial Company (NBFC) is regulated, but needs a separate license to mobilize deposits. The same situation exists in the Russian Federation with Non-Deposit Credit Organizations. 5. While in many countries becoming a licensed financial institution is necessary to access commercial sources of funds (even if the license does not necessarily allow for intermediation of public deposits), this is not always the case. Experience in Uganda has shown that commercial banks provide wholesale lending to MFIs frequently even if the MFI does not have a license, provided that the MFI is self-sustainable and can assure the bank of its ability to repay the loan, and more often than not, qualify under some type of guarantee facility.

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