UNCITRAL International Colloquium on Microfinance 2011
The UNCITRAL Secretariat is organizing an International Colloquium on Microfinance on 12-13 January 2011 at the Vienna International Centre, Austria.
At its forty-third session, in 2010, UNCITRAL recognized that microfinance could play an important role as a tool for the alleviation of poverty and achievement of the Millennium Development Goals since it facilitates access to financial services to the many poor who are not currently served by the formal financial system. The Commission also noted that an appropriate regulatory environment contributes to the development of the microfinance sector.
As indicated by the Commission, the Colloquium is aimed at a broad international audience of delegates of United Nations Member States, representatives of international and inter-governmental organizations, experts from other organizations working actively on microfinance and academia. The Colloquium will explore the legal and regulatory issues surrounding microfinance falling within the mandate of UNCITRAL with a view to reporting to the Commission at its next session (Vienna, 27 June - 15 July 2011), outlining the issues at stake and containing recommendations on work that UNCITRAL might usefully undertake in the field.
After an introduction on the role of financial inclusion in poverty reduction and in achieving the Millennium Development Goals, the Colloquium will focus on the role of country policy frameworks in microfinance, the most recent technological and institutional innovations to improve access to microfinance and the current challenges in the sector. Key inter-governmental initiatives which influence the development of microfinance will be presented. Particular attention will be drawn to legal and regulatory issues of the sector as well as to any element of transnationality in the development of microfinance regulations.
The Colloquium will be conducted on an informal basis. Interpretation in the six official languages of the United Nations will be available.
UNCITRAL International Colloquium on Microfinance
12-13 January 2011, Vienna
Welcome address - Timothy LEMAY
Financial inclusion and poverty reduction: the role of financial inclusion in achieving the Millennium Development Goals
David MORRISON (UNCDF) - Microfinance and the Millennium Development Goals: the way forward
The session discussed the meaning of financial inclusion and key aspects of microfinance, particular attention was paid to the role of financial inclusion in achieving the MDGs.
The overall policy context for enabling inclusive finance
Carlos MOYA (Banco de las Oportunidades, Colombia) - Una política para promover el acceso a servicios financieros buscando equidad social
Jami SOLLI (United States of America) - National policy frameworks which promote financial inclusion
Eduardo CABRAL JIMENEZ (Philippines) - The microfinance and inclusive finance agenda: the BSP experience
Anne-Françoise LEFEVRE (WSBI) - The overall policy context for enabling inclusive finance
The discussion revolved around the role country policy frameworks play in advancing microfinance and on their key features. Current challenges were also presented.
The global enabling environment for microfinance: the G20, the Financial Action Task Force, the Basel Committee and other standards
Bernd BALKENHOL (ILO) - Why financial inclusion matters to the working poor
Susanne DORASIL (GPFI)
The panel presented some of the main international bodies affecting national policy on financial sector regulation, as well as their initiatives directly or indirectly related to the development of microfinance.
Recent trends in financial inclusion: technological innovation, branchless banking and commercialisation
Leonard ALOO (Kenya)
Eduardo CABRAL JIMENEZ (Philippines) - Technological innovation and phone-banking: the BSP experience
Marusa VASCONCELOS FREIRE (Banco Central do Brazil, Brazil) - Social money (complementary currencies) research project = > solidarity finance
Kai SCHMITZ (World Bank) - Recent trends in financial inclusion
Ahreum LEE (ITLD) - Microfinance and UNCITRAL texts on electronic commerce
The session discussed some of the most recent and important technological and institutional innovations affecting access to microfinance.
Legal and regulatory aspects of microfinance
Albi RODRIGUEZ JARAMILO (Venezuela (Bolivarian Republic of)) - Aspectos legales y regulatorios de las microfinanzas (Creación y puesta en funcionamiento de la Corte Arbitral Microfinanciera / Huancayo-Perú)
Mike DENNIS (United States of America) - Some legal and regulatory issues relating to microfinance
Stéphanie KPENOU (ADIE, France) - Les cadres réglementaires français et européen du microcrédit
Sergio NAVAJAS (IADB) - Effective regulation and supervision of microfinance operations
The session looked at key legal and regulatory issues of microfinance (e.g. legal forms of microfinance institutions, conditions of loan, interest rates) both at regional and country level.
Proportionate regulation and supervision of microfinance - key issues
Tim LYMAN (CGAP) - Recommendations for proportionate regulation and supervision of microfinance
Marusa VASCONCELOS FREIRE (Banco Central do Brazil, Brazil)
M.R. UMARJI (Indian Banks' Association, India)
The session discussed the main features of a microfinance regulatory system.