The microfinance industry has become a model of responsible finance that remains resilient and growing amidst a steep economic down-turn. The growth and increasing purchasing power of the vast global market of low-income people is attracting private sector attention across sectors. In finance, the success of the microfinance movement shows the business viability of financial services for the poor.

In her book, Elisabeth Rhyne demonstrates that providing financial services to the poor is a viable business prospect that allows investors to be socially AND financially responsible. Microfinance for Bankers & Investors provides the readers with a road map showing where and how businesses can invest in greater financial inclusion, guided by the stories of companies already leading the way.

This project is about encouraging private businesses to engage in financial inclusion. The project was conceived by the private sector members of the UN Advisors on Financial Inclusion, a high-level body formed to continue the work of the United Nations International Year of Microcredit (2005), and financed by Visa, Inc.

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This monograph guides institutions through the process of incorporating consumer protection principles into their organizational philosophies and operations. This monograph is part of the pro-consumer initiatives of ACCION International and the MicroFinance Network. The first stage of this initiative was to develop and adopt a Pro-Consumer Pledge in 2004 among network members. The Pledge defines principles to equip microfinance customers with rights – and knowledge of these rights – while minimizing the operating costs so that MFIs can remain sustainable in the long-term. This report outlines tangible ways in which MFIs are currently integrating the ideals of the Pro-Consumer Pledge into their operations.

Please note that hardcopy sales of this monograph will not be mailed until May 25, 2006.

This paper considers the key change agents and challenges that the authors see shaping the microfinance industry through the next ten years. The authors consider in depth the impact on the industry of four main drivers of change: competition, technology, commercial entry, and policy and regulatory environment. They also identify the key challenges facing suppliers of financial services to the poor, including political risk. Predictions are made about the future of the microfinance industry with an analysis of current trends, judgments about the effects of the four change agents, and the thoughts of many other microfinance leaders. The paper encompasses the global microfinance industry, and highlights regional variations.

In the previous decade and a half scores of microfinance institutions (MFIs) throughout the developing world have transformed into for-profit entities from non-profit origins or established themselves as brand new, specialized MFIs. While still few in number, shareholder-owned MFIs form an increasingly significant part of the financial landscape in developing countries and have joined banks and other traditional institutions as full-fledged members of the formal financial sector. Many of these institutions continue to experience rapid growth and must work constantly to increase their capital base. The ability of such MFIs to attract additional capital, above all from the private sector, will in large part determine the long-term success of their efforts.

Transforming Microfinance Institutions provides guidelines for regulators to license and regulate microfinance providers, and for transforming MFIs to meet the demands of two major new stakeholders -regulators and shareholders. As such, it focuses on developing the capacity of NGO MFIs 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, business planning, accessing capital and shareholders, and how to "transform" the MFI's human resources, financial management, MIS, internal controls, and branch operations. Case studies then provide examples of developing a new regulatory tier for microfinance, and how a Ugandan NGO transformed to become a licensed financial intermediary.

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This study examines the phenomenon of shareholder-owned microfinance institutions (MFIs) at a global level, with a focus on two issues central to this model: ownership structure and corporate governance. Members of the Council of Microfinance Equity Funds have shared a keen interest in researching and analyzing the issues presented in this study, which, to the Council’s knowledge, is the first of its kind to be undertaken globally. It is the Council’s hope that this study will prove useful not only to its own members, but to all parties interested in microfinance as a means to improving the financial well-being of low-income workers throughout the developing world.

Published by Kumarian Press, The Commercialization of Microfinance documents the issues that have arisen from the entrance of microfinance into the commercial realm. The book explores how institutions have managed the transformation process, supervisory and regulatory concerns and governance issues. It also examines the role of private investment, the impact of credit unions, and the introduction of competition to the field. Country and institutional case studies provide real-life examples of these complex issues.

The Commercialization of Microfinance is published under the Microenterprise Best Practices project of Development Alternatives, Inc. (DAI), funded by USAID.

The history of the microfinance movement in Latin America is brought to life through the lens of the Bolivian experience in Mainstreaming Microfinance. Microcredit in Bolivia grew and became successful in only a decade, lifting an enormous segment of the country's population into the financial mainstream in the process. Drawing on participant interviews, Elisabeth Rhyne, details how Bolivia's special breed of social entrepreneurs found the keys to unlock the huge unmet demand of informal clients.

The Effective Governance of Microfinance Institutions conference convened board members and managing directors from approximately 50 leading microfinance institutions worldwide. Together the participants agreed to these guidelines, which are applicable to all MFIs looking to improve their structure and systems of governance. This document addresses governance issues unique to credit unions, for-profit MFIs and NGOs, as well as overall governance issues that pertain to MFIs in general.

This best-selling manual offers practical applications of traditional financial topics to microfinance institutions. The author addresses interest rate policy, management of assets and liabilities, and capital and portfolio risk - all key issues for microfinance institutions. The manual presents the theoretical framework along with numerous examples, allowing the reader to deepen his/her understanding of the subject matter.