Comparative Analysis of Microfinance Policy Frameworks and Legislation of Selected Countries
This comparative study seeks to contribute to the ongoing dialogue and development of policy frameworks specifically in Azerbaijan and Central Asia. Given the IFC’s current transformation work in this area, the countries that have been included in...
| Main Authors: | , |
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| Format: | Report |
| Language: | English en_US |
| Published: |
International Finance Corporation, Washington, D.C.
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/741611492752081369/Comparative-analysis-of-microfinance-policy-frameworks-and-legislation-of-selected-countries http://hdl.handle.net/10986/26560 |
| Summary: | This comparative study seeks to
contribute to the ongoing dialogue and development of policy
frameworks specifically in Azerbaijan and Central Asia.
Given the IFC’s current transformation work in this area,
the countries that have been included in this study are
Azerbaijan, Kazakhstan, Kyrgyzstan, Mongolia, and
Tajikistan. To incorporate the experience of countries
outside this region, the study includes Bolivia, Bosnia and
Herzegovina (BiH), and Morocco. All of these countries have
a legal system and policy framework that incorporates
microfinance. In most cases, these countries have adopted
specialized legislation that creates a new legal window for
MFIs that is distinct from existing and traditional types of
financial institutions. Despite these similarities there are
some notable differences among the policy frameworks that
are explored in the sections that follow. This study is
divided into four sections with three annexes. The first
section explores microfinance in Azerbaijan and the Central
Asian contexts. The second section analyzes and compares the
structure and nature of the various policy frameworks and
approaches to regulation and supervision. The third section
compares permitted activities and restrictions among the
different institutional types. The fourth section looks at
ownership requirements and issues related to MFI
transformation. Macroeconomic and microfinance specific data
for each of the countries has been compiled in tables in
annex one. Annex two contains legislative profiles of each
of the countries organized under various categories. Annex
three lists the primary legislation for microfinance for
each of the countries. Finally, the body of work reviewed in
preparation of this study is noted in the section entitled
resource materials. |
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