Regulation and supervision of microfinance institutions in South Africa
Finance (2005)
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Abstract
This research is designed to serve as a resource for bank supervisors, regulators, and policy makers. The Regulation and Supervision Project of the MicroFinance Network reviews case experiences in nine countries that have some experience with MFIs and draws conclusions regarding approaches to regulation and supervision that are suited to the unique characteristics of those institutions. Countries were selected for review because of the presence of a MicroFinance Network member and because this sample presents a range of regulatory responses in diverse settings. The principal findings from this project are summarized in the first volume. The country case studies, presented in this second volume, offer a detailed analysis of the field experience.
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Page 1
Regulation and supervision of microfinance institutions in South Africa
REGULATION AND SUPERVISION
OF
MICROFINANCE INSTITUTIONS
Case Studies
Edited by
Craig Churchill
The MicroFinance Network
Occasional Paper No. 2
OF
MICROFINANCE INSTITUTIONS
Case Studies
Edited by
Craig Churchill
The MicroFinance Network
Occasional Paper No. 2
Page 2
Regulation and Supervision Case Studies
i
TABLE OF CONTENTS
TABLE OF CONTENTS ........................................................................................................................ i
TABLE OF TABLES ............................................................................................................................ iii
CONTRIBUTORS................................................................................................................................. iv
ACKNOWLEDGMENTS ..................................................................................................................... vi
LIST OF ACRONYMS ........................................................................................................................ vii
INTRODUCTION .................................................................................................................................. 1
PROJECT PURPOSE................................................................................................................................. 1
BACKGROUND.......................................................................................................................................2
INDONESIA........................................................................................................................................... 5
Shari Berenbach
BACKGROUND.......................................................................................................................................5
BANK RAKYAT INDONESIA UNIT DESA ...................................................................................................8
SUPERVISION OF MFIS IN INDONESIA....................................................................................................10
BANGLADESH.................................................................................................................................... 15
Janney Carpenter
CONTEXT: THE FORMAL AND SEMI-FORMAL FINANCIAL SECTORS........................................................16
EXISTING REGULATION: THE GRAMEEN BANK CHARTER ......................................................................21
THE REGULATION DILEMMA : HOW MUCH AND HOW TO DO IT WELL?..................................................25
OBSERVATIONS AND CONCLUSIONS......................................................................................................31
PHILIPPINES ...................................................................................................................................... 35
Eduardo C. Luang and Malena Vasquez
MAJOR LEGISLATIVE INITIATIVES FOR FINANCIAL SECTOR REFORM.......................................................35
ROLES AND RESPONSIBILITIES OF REGULATORS....................................................................................38
MICROFINANCE STANDARDS INITIATIVE ...............................................................................................39
BOLIVIA.............................................................................................................................................. 43
Rachel Rock
BOLIVIAN REGULATORY FRAMEWORK..................................................................................................43
CREATION OF BANCOSOL ....................................................................................................................49
LOS ANDES: THE FIRST BOLIVIAN PRIVATE FINANCIAL FUND ...............................................................55
COLOMBIA......................................................................................................................................... 59
Shari Berenbach
FINANCIAL SECTOR IN COLOMBIA ........................................................................................................59
FINANSOL...........................................................................................................................................61
i
TABLE OF CONTENTS
TABLE OF CONTENTS ........................................................................................................................ i
TABLE OF TABLES ............................................................................................................................ iii
CONTRIBUTORS................................................................................................................................. iv
ACKNOWLEDGMENTS ..................................................................................................................... vi
LIST OF ACRONYMS ........................................................................................................................ vii
INTRODUCTION .................................................................................................................................. 1
PROJECT PURPOSE................................................................................................................................. 1
BACKGROUND.......................................................................................................................................2
INDONESIA........................................................................................................................................... 5
Shari Berenbach
BACKGROUND.......................................................................................................................................5
BANK RAKYAT INDONESIA UNIT DESA ...................................................................................................8
SUPERVISION OF MFIS IN INDONESIA....................................................................................................10
BANGLADESH.................................................................................................................................... 15
Janney Carpenter
CONTEXT: THE FORMAL AND SEMI-FORMAL FINANCIAL SECTORS........................................................16
EXISTING REGULATION: THE GRAMEEN BANK CHARTER ......................................................................21
THE REGULATION DILEMMA : HOW MUCH AND HOW TO DO IT WELL?..................................................25
OBSERVATIONS AND CONCLUSIONS......................................................................................................31
PHILIPPINES ...................................................................................................................................... 35
Eduardo C. Luang and Malena Vasquez
MAJOR LEGISLATIVE INITIATIVES FOR FINANCIAL SECTOR REFORM.......................................................35
ROLES AND RESPONSIBILITIES OF REGULATORS....................................................................................38
MICROFINANCE STANDARDS INITIATIVE ...............................................................................................39
BOLIVIA.............................................................................................................................................. 43
Rachel Rock
BOLIVIAN REGULATORY FRAMEWORK..................................................................................................43
CREATION OF BANCOSOL ....................................................................................................................49
LOS ANDES: THE FIRST BOLIVIAN PRIVATE FINANCIAL FUND ...............................................................55
COLOMBIA......................................................................................................................................... 59
Shari Berenbach
FINANCIAL SECTOR IN COLOMBIA ........................................................................................................59
FINANSOL...........................................................................................................................................61
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