Description
Book SynopsisThe microfinance sector has survived the risks posed by the global economic crisis and the controversy of the industry’s mission. Amid changing perceptions of microfinance as a panacea to eradicating global poverty, many positives remain in the quest to achieve a sustainable microfinance sector, which combines its social objectives with the demands of the commercial world in which it operates. Today, however, the sector is at a crossroads, with many questions over the future direction it will take. This timely book seeks to answer those questions by drawing on the views of different market participants, which will help to shape the road ahead. Specific chapters provide a broad spectrum of opinion on challenges and key issues, including the future of the microfinance sector and consideration of the sector from an investor’s perspective, while also dealing with more specific areas, including regulation of the sector, the role of innovations such as mobile banking, governance and sustainability, and the role of capital markets for financing – each of which will be critical for the growth of a sustainable microfinance sector. The book also provides a thoughtful analysis of the crisis in Indian microfinance and the lessons to be learned. Edited by Ranajoy Basu, a senior structured finance and capital markets lawyer who also spearheads the global social impact finance group at Reed Smith, this unique publication provides practical, commercial and candid guidance from an array of thought leaders in the microfinance sector. It will serve as a useful guide to the vital issues and will assist the reader in grasping the challenges and trends that will underpin the growth of this evolving and growing sector.
Trade ReviewBasu, a structured finance and capital markets lawyer at Reed Smith, has put together a varied and insightful compendium of expertise on microfinance, which provides an information-rich resource to practitioners, or indeed anyone professionally involved in this continually evolving and diverse area. -- Philip Taylor MBE and Elizabeth Taylor
Table of ContentsForeword Ranajoy Basu Reed Smith LLP Part I. Introduction and overview What is microfinance and its various types Ranajoy Basu Reed Smith LLP Microfinance and its discontents – hurdles and key issues Sam Mendelson Financial inclusion & microfinance consultant Business model evolution Pete Power Angkor Mikroheranhvatho Kampuchea Co Ltd Microinsurance Mosleh Ahmed Microinsurance Research Centre Shari’a compliant microfinance Atif Hanif Edana Richardson Allen & Overy LLP Livelihoods Olly Donnelly Shivia Malcolm Harper M-CRIL Part II. Financing and commercialisation Microfinance from an investor’s perspective Marcus Fedder International Finance Facility for Immunisation Microfinance and capital markets Juliette Chapelle Paris Bar School Part III. Governance and regulation Governance and sustainability of microfinance institutions Melissa Manzo Allen & Overy LLP Microfinance regulation: government intervention versus self-regulation Hajar Barbach Emma Matebalavu Clifford Chance LLP Part IV. Impact and analysis The empowerment of rural women through microfinance Dr Tara Nair Gujarat Institute of Development Research Microfinance investment vehicles and social performance Jean-Marie De Corte Marc Labie Ludovic Urgeghe Jean-Claude Vansnick Warocqué School of Business and Economics The strength of weak ties in microfinance Cornell Jackson Dr Marr University of Greenwich Part V. Developments and trends Microfinance and the impact of mobile banking Cameron Goldie-Scot Musoni BV The crisis in Indian microfinance Sanjay Sinha M-CRIL The future of microfinance Ian Callaghan Financial inclusion & microfinance consultant Microfinance 2.0 and the empowerment of rural women Dr Phyllis SantaMaria Microfinance without Borders About the authors
