Comparative Review of Microfinance Regulatory Framework Issues in Benin, Ghana, and Tanzania

The authors investigate the microfinance regulatory regimes in Benin, Ghana, and Tanzania, with a view to identifying key issues and lessons on how the overall regulatory framework affects integration of microfinance institutions into the financial system. The authors find that recognizing different...

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Main Authors:	Gallardo, Joselito, Ouattara, Korotoumou, Randhawa, Bikki, Steel, William F.
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	APEX BANK DEPOSITS BANK SUPERVISION BANQUE CENTRALE DES ETATS DE L'AFRIQUE DE L'OUEST BORROWING CAPITAL ADEQUACY CAPITAL REQUIREMENTS CENTRAL BANKS COLLATERAL COMMERCIAL BANKS COMMERCIAL LOANS COMMUNITY BANKS COMPANY CONTRACT ENFORCEMENT COOPERATIVES CREDIT COOPERATIVE CREDIT UNIONS DEPOSITS ECONOMIC GROWTH ENTERPRISE SUPPORT EXPANSION FINANCIAL AUTHORITIES FINANCIAL DEEPENING FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL REFORMS FINANCIAL REGULATION FINANCIAL REGULATORY SYSTEMS FINANCIAL SERVICES FINANCIAL STRUCTURE FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FINCA INSURANCE INTEREST RATES LAWS LEGAL FRAMEWORK LEGISLATION LENDERS LEVERAGE LICENSING LIQUIDITY LIQUIDITY MANAGEMENT LOAN PORTFOLIOS MICRO FINANCE MICROCREDIT MICROENTERPRISE MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROFINANCE METHODOLOGIES MICROFINANCE PRACTITIONERS MICROFINANCE PROGRAMS MICROFINANCE REGULATION MICROFINANCE SECTOR MICROLENDING MICROLOANS MINIMUM CAPITAL REQUIREMENTS MINISTRIES OF FINANCE NONGOVERNMENTAL ORGANIZATIONS OFFERINGS OUTREACH PERFORMANCE STANDARDS PRIVATE BANKS PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS PRUDENTIAL SUPERVISION PUBLIC DEPOSITS PUBLIC SAVINGS REGULATORY BURDENS REGULATORY FRAMEWORK RESERVE REQUIREMENTS RURAL BANKS RURAL SAVINGS SAVINGS SAVINGS DEPOSITS SECURITIES SMALL ENTERPRISES SUB-SAHARAN AFRICA SUPERVISORY AGENCIES SUPERVISORY AUTHORITIES SUSTAINABILITY SUSTAINABLE FINANCIAL SERVICES SUSTAINABLE MICROFINANCE SUSTAINABLE MICROFINANCE INSTITUTIONS TAXATION TECHNICAL ASSISTANCE VILLAGE BANKS
Online Access:	http://documents.worldbank.org/curated/en/2005/04/5800515/comparative-review-microfinance-regulatory-framework-issues-benin-ghana-tanzania http://hdl.handle.net/10986/8951

id	okr-10986-8951
recordtype	oai_dc
spelling	okr-10986-89512021-04-23T14:02:42Z Comparative Review of Microfinance Regulatory Framework Issues in Benin, Ghana, and Tanzania Gallardo, Joselito Ouattara, Korotoumou Randhawa, Bikki Steel, William F. APEX BANK DEPOSITS BANK SUPERVISION BANQUE CENTRALE DES ETATS DE L'AFRIQUE DE L'OUEST BORROWING CAPITAL ADEQUACY CAPITAL REQUIREMENTS CENTRAL BANKS COLLATERAL COMMERCIAL BANKS COMMERCIAL LOANS COMMUNITY BANKS COMPANY CONTRACT ENFORCEMENT COOPERATIVES CREDIT COOPERATIVE CREDIT UNIONS DEPOSITS ECONOMIC GROWTH ENTERPRISE SUPPORT EXPANSION FINANCIAL AUTHORITIES FINANCIAL DEEPENING FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL REFORMS FINANCIAL REGULATION FINANCIAL REGULATORY SYSTEMS FINANCIAL SERVICES FINANCIAL STRUCTURE FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FINCA INSURANCE INTEREST RATES LAWS LEGAL FRAMEWORK LEGISLATION LENDERS LEVERAGE LICENSING LIQUIDITY LIQUIDITY MANAGEMENT LOAN PORTFOLIOS MICRO FINANCE MICROCREDIT MICROENTERPRISE MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROFINANCE METHODOLOGIES MICROFINANCE PRACTITIONERS MICROFINANCE PROGRAMS MICROFINANCE REGULATION MICROFINANCE SECTOR MICROLENDING MICROLOANS MINIMUM CAPITAL REQUIREMENTS MINISTRIES OF FINANCE NONGOVERNMENTAL ORGANIZATIONS OFFERINGS OUTREACH PERFORMANCE STANDARDS PRIVATE BANKS PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS PRUDENTIAL SUPERVISION PUBLIC DEPOSITS PUBLIC SAVINGS REGULATORY BURDENS REGULATORY FRAMEWORK RESERVE REQUIREMENTS RURAL BANKS RURAL SAVINGS SAVINGS SAVINGS DEPOSITS SECURITIES SMALL ENTERPRISES SUB-SAHARAN AFRICA SUPERVISORY AGENCIES SUPERVISORY AUTHORITIES SUSTAINABILITY SUSTAINABLE FINANCIAL SERVICES SUSTAINABLE MICROFINANCE SUSTAINABLE MICROFINANCE INSTITUTIONS TAXATION TECHNICAL ASSISTANCE VILLAGE BANKS The authors investigate the microfinance regulatory regimes in Benin, Ghana, and Tanzania, with a view to identifying key issues and lessons on how the overall regulatory framework affects integration of microfinance institutions into the financial system. The authors find that recognizing different tiers of both regulated and unregulated institutions in a financial structure facilitates financial deepening and outreach to otherwise underserved groups in urban and rural areas. That environment promotes sustainable microfinance under shared performance standards and encourages regulatory authorities to develop appropriate prudential regulations and staff capacity. Case studies of the three countries raise important issues on promoting microfinance development vis-à-vis regulating them. Laws to regulate activities other than intermediation of public deposits into loans can result in disproportionately restrictive and unmanageable standards, even as dynamic microfinance sectors have emerged without conducive regulatory regimes. The authors use the three countries' regulatory experiences to highlight the importance of differentiating when prudential supervision is warranted and when regulatory oversight suffices, and to identify the agencies to carry out regulation. They address an important issue that has received scant attention, measuring and paying for the costs of regulating microfinance, and the need to build technical capacity of supervisory and regulatory staff. 2012-06-25T17:36:08Z 2012-06-25T17:36:08Z 2005-04 http://documents.worldbank.org/curated/en/2005/04/5800515/comparative-review-microfinance-regulatory-framework-issues-benin-ghana-tanzania http://hdl.handle.net/10986/8951 English Policy Research Working Paper; No. 3585 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Africa Benin Tanzania Ghana
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	APEX BANK DEPOSITS BANK SUPERVISION BANQUE CENTRALE DES ETATS DE L'AFRIQUE DE L'OUEST BORROWING CAPITAL ADEQUACY CAPITAL REQUIREMENTS CENTRAL BANKS COLLATERAL COMMERCIAL BANKS COMMERCIAL LOANS COMMUNITY BANKS COMPANY CONTRACT ENFORCEMENT COOPERATIVES CREDIT COOPERATIVE CREDIT UNIONS DEPOSITS ECONOMIC GROWTH ENTERPRISE SUPPORT EXPANSION FINANCIAL AUTHORITIES FINANCIAL DEEPENING FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL REFORMS FINANCIAL REGULATION FINANCIAL REGULATORY SYSTEMS FINANCIAL SERVICES FINANCIAL STRUCTURE FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FINCA INSURANCE INTEREST RATES LAWS LEGAL FRAMEWORK LEGISLATION LENDERS LEVERAGE LICENSING LIQUIDITY LIQUIDITY MANAGEMENT LOAN PORTFOLIOS MICRO FINANCE MICROCREDIT MICROENTERPRISE MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROFINANCE METHODOLOGIES MICROFINANCE PRACTITIONERS MICROFINANCE PROGRAMS MICROFINANCE REGULATION MICROFINANCE SECTOR MICROLENDING MICROLOANS MINIMUM CAPITAL REQUIREMENTS MINISTRIES OF FINANCE NONGOVERNMENTAL ORGANIZATIONS OFFERINGS OUTREACH PERFORMANCE STANDARDS PRIVATE BANKS PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS PRUDENTIAL SUPERVISION PUBLIC DEPOSITS PUBLIC SAVINGS REGULATORY BURDENS REGULATORY FRAMEWORK RESERVE REQUIREMENTS RURAL BANKS RURAL SAVINGS SAVINGS SAVINGS DEPOSITS SECURITIES SMALL ENTERPRISES SUB-SAHARAN AFRICA SUPERVISORY AGENCIES SUPERVISORY AUTHORITIES SUSTAINABILITY SUSTAINABLE FINANCIAL SERVICES SUSTAINABLE MICROFINANCE SUSTAINABLE MICROFINANCE INSTITUTIONS TAXATION TECHNICAL ASSISTANCE VILLAGE BANKS
spellingShingle	APEX BANK DEPOSITS BANK SUPERVISION BANQUE CENTRALE DES ETATS DE L'AFRIQUE DE L'OUEST BORROWING CAPITAL ADEQUACY CAPITAL REQUIREMENTS CENTRAL BANKS COLLATERAL COMMERCIAL BANKS COMMERCIAL LOANS COMMUNITY BANKS COMPANY CONTRACT ENFORCEMENT COOPERATIVES CREDIT COOPERATIVE CREDIT UNIONS DEPOSITS ECONOMIC GROWTH ENTERPRISE SUPPORT EXPANSION FINANCIAL AUTHORITIES FINANCIAL DEEPENING FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL REFORMS FINANCIAL REGULATION FINANCIAL REGULATORY SYSTEMS FINANCIAL SERVICES FINANCIAL STRUCTURE FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FINCA INSURANCE INTEREST RATES LAWS LEGAL FRAMEWORK LEGISLATION LENDERS LEVERAGE LICENSING LIQUIDITY LIQUIDITY MANAGEMENT LOAN PORTFOLIOS MICRO FINANCE MICROCREDIT MICROENTERPRISE MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROFINANCE METHODOLOGIES MICROFINANCE PRACTITIONERS MICROFINANCE PROGRAMS MICROFINANCE REGULATION MICROFINANCE SECTOR MICROLENDING MICROLOANS MINIMUM CAPITAL REQUIREMENTS MINISTRIES OF FINANCE NONGOVERNMENTAL ORGANIZATIONS OFFERINGS OUTREACH PERFORMANCE STANDARDS PRIVATE BANKS PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS PRUDENTIAL SUPERVISION PUBLIC DEPOSITS PUBLIC SAVINGS REGULATORY BURDENS REGULATORY FRAMEWORK RESERVE REQUIREMENTS RURAL BANKS RURAL SAVINGS SAVINGS SAVINGS DEPOSITS SECURITIES SMALL ENTERPRISES SUB-SAHARAN AFRICA SUPERVISORY AGENCIES SUPERVISORY AUTHORITIES SUSTAINABILITY SUSTAINABLE FINANCIAL SERVICES SUSTAINABLE MICROFINANCE SUSTAINABLE MICROFINANCE INSTITUTIONS TAXATION TECHNICAL ASSISTANCE VILLAGE BANKS Gallardo, Joselito Ouattara, Korotoumou Randhawa, Bikki Steel, William F. Comparative Review of Microfinance Regulatory Framework Issues in Benin, Ghana, and Tanzania
geographic_facet	Africa Benin Tanzania Ghana
relation	Policy Research Working Paper; No. 3585
description	The authors investigate the microfinance regulatory regimes in Benin, Ghana, and Tanzania, with a view to identifying key issues and lessons on how the overall regulatory framework affects integration of microfinance institutions into the financial system. The authors find that recognizing different tiers of both regulated and unregulated institutions in a financial structure facilitates financial deepening and outreach to otherwise underserved groups in urban and rural areas. That environment promotes sustainable microfinance under shared performance standards and encourages regulatory authorities to develop appropriate prudential regulations and staff capacity. Case studies of the three countries raise important issues on promoting microfinance development vis-à-vis regulating them. Laws to regulate activities other than intermediation of public deposits into loans can result in disproportionately restrictive and unmanageable standards, even as dynamic microfinance sectors have emerged without conducive regulatory regimes. The authors use the three countries' regulatory experiences to highlight the importance of differentiating when prudential supervision is warranted and when regulatory oversight suffices, and to identify the agencies to carry out regulation. They address an important issue that has received scant attention, measuring and paying for the costs of regulating microfinance, and the need to build technical capacity of supervisory and regulatory staff.
format	Publications & Research :: Policy Research Working Paper
author	Gallardo, Joselito Ouattara, Korotoumou Randhawa, Bikki Steel, William F.
author_facet	Gallardo, Joselito Ouattara, Korotoumou Randhawa, Bikki Steel, William F.
author_sort	Gallardo, Joselito
title	Comparative Review of Microfinance Regulatory Framework Issues in Benin, Ghana, and Tanzania
title_short	Comparative Review of Microfinance Regulatory Framework Issues in Benin, Ghana, and Tanzania
title_full	Comparative Review of Microfinance Regulatory Framework Issues in Benin, Ghana, and Tanzania
title_fullStr	Comparative Review of Microfinance Regulatory Framework Issues in Benin, Ghana, and Tanzania
title_full_unstemmed	Comparative Review of Microfinance Regulatory Framework Issues in Benin, Ghana, and Tanzania
title_sort	comparative review of microfinance regulatory framework issues in benin, ghana, and tanzania
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2005/04/5800515/comparative-review-microfinance-regulatory-framework-issues-benin-ghana-tanzania http://hdl.handle.net/10986/8951
_version_	1764407327724666880

Comparative Review of Microfinance Regulatory Framework Issues in Benin, Ghana, and Tanzania

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