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Objectives
This module explores issues related to the microfinance sector regulation. Should the industry be regulated? When and how? Will it bring the focus to the status of regulation in the context of the Africa region? The module also explores the role of non-governmental regulatory bodies.
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Speakers´ Bios | Suggested Readings
Agenda
Moderator
Stefan Queck, IADB
Speakers
William Steel, World Bank
J. Gallardo, World Bank
Practitioners
Grace Rubambey, Bank of Tanzania, Tanzania
Henry Bagazonzya, Rural Microfinance Support Project, Uganda
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Speakers´ Bios | Suggested Readings
Presentations
Regulatory Environment for Sustainable Microfinance: Getting the Framework Right
Joselito Gallardo
Why, from a governmental point of view is regulation needed? The Tanzania experience
Grace Rubambey
Microfinance Regulation and Standards: Issues and Experience
William Steel
Status of Debate on Regulation/supervision in Uganda
Henry Bagazonzya
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Speakers´ Bios | Suggested Readings
Speakers´ Bios
Ms. Grace Rubambey, a micro-finance expert, is a holder of BB.A. (Econ) and M.A. (Econ) degrees from Kent State of University, Kent, Ohio, USA. She has been with the Bank of Tanzania (central bank) for more than twenty years and has held a number of management positions since 1981 including Manager of Economic Research and Statistics, Director of Rural Finance, Director of Financial Markets and currently Director of Micro-finance. She led the team that drafted the National Micro-finance Policy, for Tanzania that was approved by the Cabinet in May this year. She is also currently heading the Tanzania National Task Force on the Review of the Legal, Regulatory and Supervisory Framework for Micro-finance.
William F. Steel is the Senior Adviser for microfinance and small enterprise development in the Private Sector Group of the Africa Region in the World Bank, where he has worked since 1983. He is Co-Chair of the Committee of Donor Agencies for Small Enterprise Development, and a leader of the World Bank’s internal network on Rural and Micro Finance and Small Enterprise Development. He previously taught economics at Vanderbilt University (1970-79) and the University of Ghana (1972-73) and served as an Advisor in the African Development Bank (1979-83) and the Indonesia National Planning Agency (1992-93). He studied at Williams College (B.A.), Harvard University (M.A.T.) and M.I.T. (Ph.D.), and has published numerous books and articles on small enterprise development, informal financial markets, and industrial adjustment.
Joselito Gallardo, a member of the Financial Sector Development Department, specializes in providing advisory services and preparing best practice documents and conducting seminars and training courses for staff of the Bank, public agencies and private financial institutions of client countries who are engaged in the development and operations of financial institutions focused on the rural/microenterprise/SME sector.
Specific examples of his work program include:
• Programs to develop the retail lending capabilities of commercial banks to reach the rural/microenterprise sectors in Romania, Moldova, Ukraine and Mexico. These featured setting up linkages and strengthening nonbank institutions such as micro- finance NGOs, credit cooperatives and leasing companies, and recommendations to improve the legal framework for secured transactions
• Assessing the legal and regulatory framework for microfinance institutions and secured transactions in Ghana, Malawi, Mexico, India, Philippines and Indonesia including recommendations for policy and action plans by government and microfinance community.
• Advice to central bank authorities and finance ministries in Albania, Bangladesh and Nicaragua on establishing a regulatory framework under which microfinance institutions will be classified, registered or supervised according to standard prudential norms.
Gallardo has held senior executive positions in commercial and investment banking, insurance and capital market operations in the Philippines, Southeast Asia and the United States with the Ayala Group. He had also served as chief economist at the Office of the President of the Philippines. His academic preparation in Economics was at the Ateneo de Manila (Philippines), Williams College (Massachusetts) and Stanford University (California).
Henry K. Bagazonzya is an Agricultural Economist with 23 years experience in project preparation, analysis, rural credit design, administration, development and implementation. He has for the last eight years been involved in development finance.
He has been a Project Director of the Cost of Production Processing and Marketing of major export cash crops Study in Uganda funded by the World Bank and Team Leader of the Socio-Economic and Environmental Study on the oil pipeline extension from Nairobi to Western Kenya. Mr. Bagazonzya has also participated as a Deputy Team leader on a Zambezi Valley Master Plan Study on Zimbabwe, which was supported by UNDP. He participated in the EC funded Lamu Planning Study and the Horticulture and Viniculture Study financed by the Kerio Valley Development Authority in Kenya.
He has participated as a Deputy Team Leader on a Feasibility Study of Irrigation Development along the shores of Lake Victoria and a Team Leader on an EC funded study on the involvement of Cooperative Societies and Private Traders in Grain Marketing for the Kenya Government. This was to establish the stages and speed of grain marketing liberalisation so that food security levels could be determined and maintained. He has been involved in an Evaluation and Monitoring Study of the Uganda Agricultural Development Project (ADP) for IFAD/World Bank and has participated in project preparation, appraisal and supervision missions in Uganda/Kenya for the World Bank. He was a Technical Advisor for 18 months for a Pilot Credit Component of the Agricultural Development Project of the Ministry of Agriculture, Animal Industry and Fisheries in Uganda, which was funded by World Bank, which addressed development of credit and savings delivery mechanisms that are appropriate to the local communities.
He has also participated as an external Consultant on the Credit Repayment Study in Malawi; which was funded by IFAD and supervised by the World Bank. He is currently the Chief Technical Advisor on the Poverty Alleviation Project/Rural Microfinance Support Project (PAP/RMSP) in Uganda, which is funded by African Development Bank (ADB). This project is now in the process of being turned into a microfinance institution that will deal with short term and long term loans to both urban and rural areas through Micro Finance Institutions (MFIs). He has participated in major microfinance workshops and written papers on the current microfinance issues in Uganda.
Top of page | Objectives | Agenda | Presentations
Speakers´ Bios | Suggested Readings
Suggested Readings
From Margin to Mainstream: The Regulation and Supervision of Microfinance
Edited by Rachel Rock and Maria Otero
1997
The Rush to Regulate: Legal Frameworks for Microfinance
Robert Peck Christen and Richard Rosenberg
Principles and Practice: Myths of Regulation and Supervision
Graham A.N. Wright
January 2000
Top of page | Objectives | Agenda | Presentations
Speakers´ Bios | Suggested Readings
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