This publication tackles a wide range of issues based on the changing role of central banks in liberalising economies and the spread of financial instiututions for the poorest through microfinance. It analyses findings from 12 countries in the Asia-Pacic region looking at the potential of increased co-operation and understanding in regulation and supervision, institutional capacity building and through new initiatives. Some conclusions drawn from this wealth of material and analysis are that:- Central banks should take the lead in regulation and supervision in the absence of a separate bank supervisory agency
- Central banks should use their skills and resources to undertake promotional activities and support microfinance through pilot projects, research, data collection and publication, advocacy, or training
- Savings institutions can benefit from central bank regulation as shown in the case of nonbank MFIs that accept significant amounts of voluntary savings from members
Overall there is a need for flexibility and pragmatism in adapting findings and basic principles to the circumstances of various countries.
The contents are available in English and in separate pdf files:
Contents
Foreword, Abbreviations, Notes on Authors and
Executive Summary [ PDF:117kb , 15 pages ]
Introduction [ PDF: 65kb , 3 pages ]
Development of Microfinance [ PDF: 120kb , 10 pages ]
Economic and Social Conditions in the Asia-Pacific Region
Introduction to Microfinance
Microfinance Models
Outreach and Sustainability
Role of Central Banks [ PDF: 77kb , 7 pages ]
Objectives of Central Banks
Developmental and Promotional Activities of Central Banks
Financial Repression as a Consequence of Developmental Activities
Financial Liberalization
Promotional Activities of Central Banks
Activities of Central Banks in Practice
Central Bank Support for Microfinance Initiatives [ PDF: 129kb , 15 pages ]
Background
Perceptions of Central Banks Regarding Microfinance
Directed Credit Requirements
Other Developmental Activities to Support Microfinance
Promotional Activities to Support Microfinance
Regulation of Licensed Banks [ PDF: 116kb , 13 pages ]
Background
Licensing and Minimum Capital Requirements
Interest Rate Restrictions
Capital Adequacy
Loan Classification and Provisioning
Bank Supervision
Other Requirements
Regulation of Nonbank Microfinance Institutions [ PDF: 103kb , 12 pages ]
Background
Non-prudential Regulation
Prudential Regulation and Supervision
Regulation by Special Law for Microfinance Institutions
Prudential Regulation and Supervision in Practice
Performance and Reporting Standards
Conclusions [ PDF: 80kb , 7 pages ]
Diverse Roles for Central Banks
Central Bank Support for Microfinance Initiatives
Regulation of Licensed Banks
Regulation of Nonbank Microfinance Institutions
Recommendations
References [ PDF: 57kb , 3 pages ]
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