Le terme microfinance designe les services financiers destines aux pauvres. Sa has not been the fastest growing of the mfis in this collection of studies. In a pilot phase, we collected extensive data on a sample of 1,300house holds. Al amana in morocco, first macro bank in the philippines, compartamos in mexico that have allowed researchers each of us was involved in one or more of these to evaluate rigorously the impact of their programs. Between 2006 and 2007, al amana opened around 60 new branches in rural areas. Strategic business planning for market led financial institutions wright et al. Worlds top 50 microfinance institutions were chosen from a field of 641 microcredit providers.
Ensure a level playing field for islamic microfinance source. How this debate is resolved has crucial implications for the future of microfinanceits guiding. The year 2009 was a major inflection point for the sector in morocco. Throughaseriesoftrialsanderrors,yunus settledonaworkingmodelandby1983,undera specialcharterfromthebangladeshgovernment, foundedthegrameenbankasaformalandinde. But asa has been at it longer since 1992 and is now remarkable for its sheer size. It has 597 sales outlets, including 280 in rural areas and 86 mobile branches.
The new microfinance handbook fills a critical gap in the current literature on financial inclusion. Product diversification in microfinance womens world. The microfinance industry is characterized by a schism, or debate, between two camps that represent broadly different approaches to microfinance. The microfinance has evolved due to the efforts of committed individuals and financial agencies to promote selfemployment and contribute to poverty alleviation and provision of social security. Al amana is in the top 100 of the best mfis in the world and was awarded several international prizes. Case studies in onor good practices microfinance gateway.
Level of microfinance loan average microfinance loan of an ngo microfinance institution or of a cooperative bank or credit union in the philippine case is about p25,000 from a low of p2,000 to p5,000. The other coauthors belong to academic institutions. Al amana clients signing for a group loan disbursement in. Developing better markets managing overindebtedness. We take advantage of the expansion of al amana, the largest mfi in morocco. Microfinance clients, productsservices and market niches 1 introduction the 10th anniversary of the founding of the microfinance network is a good time to reflect on what has been accomplished to date and what the future holds for the network. Al amana 14% 22% 5 mfis 38% 41% 10 mfis 57% 53% 15 mfis 69% 60%. It was founded on february th in 1997 and approved as an association of microcredit by the ministry of finance on march 31st in 2000. Usaid support of al amana and the law on microfinance in morocco. It has served more than 4 million loans for an envelope of over 32 billion dirhams since its beginning.
The rise, fall, and recovery of the microfinance sector in. Al amana microfinance is the first moroccan microfinance institution and in the mena area. Al amana is moroccos leading microfinance institution and a pioneer in the management of social performance. In just four years, from 2003 to 2007, mfi loan portfolios multiplied 11 times and client outreach by four, according to mix. Al amana microfinance the abdul latif jameel poverty. It had 101,553 clients, 421 employees 74 % of which were productive field staff, and a portfolioatrisk ratio more than 30 days of 0. Al amana upscaling health microinsurance to lowincome clients in. If youre interested in participating in microfinance we recommend learning more about kiva, how lending works and. World bank financial inclusion in the middle east and north africa. Implementation ofmobile banking improving customer relationship. Microfinance institutions, people, resources, and ideas are connected across arab countries. Acad page 5 96,000 households demand small and medium credit and a further 200,000 households demand smallbalance savings accounts and money transfer services. The members of the microfinance network are among the strongest microfinance institutions. A rating provides an opinion on the sustainability and longterm solvency of the institution through a comprehensive assessment of its risks, performance, market positioning and responsible practices.
Directory of competencies for microfinance institutions 71. These institutions scored remarkably well on all microfinance performance metrics. Microfinance week 2014 developing better markets managing overindebtedness. The majority of microfinance is aimed attheestimated2. Bencheqroun and the staff at al amana, mohammed allouch and the staff at attawfiq, and mouatassim belghazi. The pairs were chosen at the periphery of the zone where al amana, our partner microfinance institution mfi, was planning to start their operations. Al amana microfinance the abdul latif jameel poverty action lab. Al amana individual assessment form 125 appendix 3. Save and facilitate your banking learn more save and facilitate your banking hissab bikhir is a simple to use current account. This paper reports the results from a randomized evaluation of a microcredit program introduced in rural areas of morocco starting in 2006 by al amana, the countrys largest microfinance institution. Sak closed is a leading auto finance company in kuwait. In december 2011, grameenjameel signed a memorandum of understanding with al amana microfinance. I am particularly pleased with the explicit focus on consumers and their needsthis, together with the onset of technologybased delivery models, has been the most important shift in the microfinance field over the past 15 years.
Furthermore, the majority of the increase happened in just three years, from 1999 to. The activity reports are classified by year of publication and title of documents. Transfer and receive your money learn more transfer and receive your money al amana microfinance offers a full range of services to cover your money transfer needs in partn. This case study describes how the united states agency for international development usaid pursued a vision for largescale microfinance in morocco by creating a bestpractice microfinance institution and facilitating an enabling legal framework. Over the past 10 years kiva has enabled more than 1. The cooperative and solidarity programmes and doortodoor bankers have been emphasised. Al amana was founded in 1997 to provide financial services to urban microentrepreneurs. Good practice cases of bds provision for small business in the south 18 4. Al amana microfinance morocco 296,000 121,360 101,711 54,924 care international in rwanda rwanda 157,391 123,709 99,156 77,937 financiera edyficar s. Estimating microcredit impact with low takeup, contamination and. The basel committee on banking supervision is a committee of banking supervisory authorities which was established by the central bank governors of the group of ten countries in 1975. Why financial inclusion matters to the working poor. Thirteen percent of the households in treatment villages took a loan, and. Al amana expansion to nondensely populated areas gives the opportunity to analyze the impact of microcredit basic product, the groupliability loan first introduced by grameen bank, in a context in which microcredit was almost inexistent and the use of both formal and informal lending was very low.
An overview of rcts and other impact studies can be found in bauchet et al. Lessons leant from these projects, which have been incorporated into the project. The ratings of al amana microfinance are categorized by year of publication and title of documents. Attawfiq micro finance, morocco mohamed zmander enda tamweel, tunisia. Al amana of morocco and compartamos of mexico, for example,have had faster year onyear growth rates both in terms of clients served and loans disbursed and outstanding. Association al amana for the promotion of microenterprises morocco. Thus, we have limited ourselves to a brief description of the financial systems common to both countries.
By the end of usaids project in december 2003, al amana had become an exemplary microfinance institution. Financial access in mena 2021 october beirut 6th meeting of the international network on. Strategic business planning for marketled financial. Estimating the impact of microcredit on those who take it up. Al amana international inc383989750, nonprofit information address, financials, income, revenues, deductibility. It used a solidarity group lending methodology, targeted women clients, and offered sixmonth loans. Please rate your boards effectiveness in the following technical areas areas where respondents felt their boards were least effective include. Usaid support of al amana and the law on microfinance in morocco english abstract. These institutions scored remarkably well on all microfinance performance. We randomly selected one village in each pair, and al amana started working in that village only. This exuberant growth was driven by four leading mfiszakoura, alamana, fondation des banques populaires, and fondep. Wright, kasia pawlak, walter tounitsky, lisa parrott, david cracknell and ramesh s.
Savings products and services in the informal sector and. Al amana microfinance is also today a staff of 2378 people. Microfinance and remittances in somalia an ongoing challenge for mfis in somalia is the absence of a financial sector, which complicates the process of getting money from donors to the microfinance organizations. Impact of microcredit in rural areas of morocco 04 11. Al amanas ambition is to be a market leader in the sector and to maintain its leadership through its outreach, performance and innovation. This project is one of the few to rigorously evaluate the impact of a microcredit program. Jan 02, 2020 chicago, united states, jan 2, 2020 report hive research adds microinsurance market report to its market research database. The microfinance sector is made of mfis with various legal structures and one microfinance bank al rafah bank.
Impact of rural microcredit in morocco innovations for. Speaking from experience daniel rozas, emfp shameran abed, brac bangladesh fernando fernandez, pro mujer mexico youssef bencheqroun, al amana morocco. Increasingly, microfinance is also being offered in developed countries to those who want to become microentrepreneurs but cannot access credit. Microfinance network 4 the percentage of mfis using a staff incentive scheme has increased more than tenfold between 1990 and 2003, growing from 6% to 63%. As a market leader in morocco, the association has a retail network covering the whole country.
Al amana s ambition is to be a market leader in the sector and to maintain its leadership through its outreach, performance and innovation. Request pdf on sep 1, 2017, siham hamdani and others published sustainable microfinance and global performance proposal for a decisionmaking support tool find, read and cite all the research. Strategic business planning for market led financial. Finally, the authors would like to thank nicola armacost for editorial support and donald creedon, sasha laumeister and gerald weaber for formatting, design and production assistance. We also describe eys position in the microfinance industry sharing the services and support that we can provide.
Generally, the microfinance institutions mfis, as one of the development institutions, have drastically emerged as a powerful and effective tool for fighting poverty with the objectives to. Microfinance institutions financial co operative networks 2. Uncitral colloquium on microfinance vienna, 12 january 2011. We provide our valued customers with optimal credit solutions, giving you the freedom to choose from a wide range of new and used vehicles, through our relationships with major dealerships.
This research study examines the current microinsurance market trends related to the demand, supply, and sales, in addition to the recent developments. Sanabels 2017 conference november 78 beirut, lebanon. Microfinance sectors morocco location loan financing tool 3,000,000 eur amount of funding senior loan of eur 3m financing details al amana client ifc ces client presentation al amana is the leader in moroccos microfinance sector in terms of outstanding credit, the number of borrowers and the size of the network. Microfinance opportunities monique cohen 1730 rhode island ave, nw suite 609 washington, dc 20036 phone. Moreover, the moroccan crisis was defined by the crisis of one institution zakoura without which the microfinance crisis in morocco looks far less serious. To be realistic, the maximum principal amount of a microfinance loan can be pegged at p150,000. The four institutions featured in this report are mibospo, kenya womens finance trust, share and association al amana. Al amana is a microcredit organization based in morocco which gives loans to small solidarity groups to promote and support microenterprises.
In 2007, morocco had one of the most vibrant and successful microfinance sectors in the world. As of early 2012, al amana had 339,408 customers in 400 branches. It consists of senior representatives of bank supervisory authorities and central banks from argentina, australia, belgium, brazil. It takes advantage of the expansion of al amana, moroccos largest microfinance institution, into rural areas of morocco where access to formal credit is very low. Al amana microfinance is also today a staff of 2378 people and a network of 606 agencies including 86 mobile.
Microinsurance market demand, revenue, trends, profit. Practitioner responses since 1998 organization country adjustment total clients % total women poorest clients % poorest. To our knowledge, this is the first randomized evaluation of the impact of expanding access to microcredit in rural areas. Governance and strategic leadership of microfinance. Their commitment to this process has ensured that the financial education curriculum responds to the real needs of poor clients. Al amana was the only mfi operating in the study areas during the evaluation period. Building society kenya, al amana morocco, card bank the philippines, and the microfinance centre poland. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the full. Strategic business planning for marketled financial institutions toolkit. Usaid envisioned al amana as a major mfi that would set the standard for good microfinance practice in morocco. Fwwb friends of womens world banking sample job profile 126 notes 129 table of contents. Thirteen percent of the households in treatment villages took a loan, and none in control villages.
Since the marginal business funded by a microfinance loan is. Estimating the impact of microcredit on those who take it. Microfinance is generally seen as a way to fix credit markets and unleash the productive capacities of poor people dependent on selfemployment. Youssef bencheqroun al amana, morocco gamal khalifa efsa, egypt jurgen hammer grameen credit agricole microfinance foundation, luxembourg. Clients of microfinance institutions must cope with serious work challenges.