A handful of microfinance actors already exist in Myanmar and could pave the way to a NGO-MFIs structured model benefiting from the support of donors and government. Moreover, Easy Microfinance will operate in full compliance with applicable laws in the Republic of the Union of Myanmar as well as with international best practice performance standards as prescribed by the International Finance Corporation (IFC): it will implement and adequately deploy an effective E&S Management system. This report makes two sets of recommendations. LIFT budget 2019-23 (actual plus forecast): USD 94,3 million Total contracted projects: 24. In summary, the microfinance sector is at the earliest stages of development in Myanmar. and promote growth by improving and expanding This wealth of data provides an opportunity to develop a tailored approach as the microfinance sector in Myanmar matures. 2011. Myanmar’s re-entry onto the global stage provides a unique opportunity for IFC and the World Bank to engage in interventions that support development of Myanmar’s nascent private sector. He holds degrees from Yangon Institute of Economics (B.Com and M.Dev.S) and Kyung Hee University of South Korea (M.A., Economics). He is in charge of data management and economic analysis. Microfinance Procedures, Instructions and Accounting and Reporting Formats for the Microfinance Organization. © Copyright 2021 Myanmar MicroFinance Association. LOLC Myanmar Microfinance relocates Yankin branch 2021-01-14 FMO conducts evaluation of MFI investments 2021-01-05 UNCDF announces Kachin microfinance expansion grant 2021-01-05 Central Bank of Myanmar. It is necessary to ensure that ordinary people utilizing finan-cial service providers are protected. However, such framework should be introduced However, providers can be more efficient in their funding if there is better financial data on borrowers. microfinance regulatory and legal framework It is necessary to ensure that ordinary people utilizing finan-cial service providers are protected. View Microfinance Research Papers on Academia.edu for free. Notification 277/2011. In April 2018 FMR published an in-depth report on the Myanmar financial services market, spanning banking, insurance, microfinance, capital markets and mobile money. This loan, whose name means Golden Future, is designed for small enterprise owners with a dream to expand their businesses.Loan amounts vary from MMK 500,000 to 10,000,000 (USD 325 to 6,500) and run for periods of 6 to 24 months. 23 … Early Dawn Microfinance Company Limited (DAWN) is one of Myanmar’s largest and most prominent microfinance institutions, serving local microentrepreneurs and small business owners without or with limited access to formal financial services. stakeholders. also be willing to support any initiative aimed at SOCIAL RATING. The future of micro-finance in Myanmar is digital, and that future is bright. alleviation strategies. Over 80 … Chapter 2, the report will give a brief overview of the other components of the Myanmar financial sector, including capital markets (1.1), microfinance (1.2), insurance markets (1.3), pawnshops (1.4), and the informal financial sector (1.5). Who We Are. Much more is also known about the demand for microfinance due to well-funded research initiatives and detailed market studies, such as the Making Access Possible Report and the Myanmar Financial Diaries Project. Ltd. SOCIAL RATING. The data were reported to MIX for inclusion in its MIX Market platform and related products for dissemination to a broad public. MIX Market data has been reported by financial services providers (FSPs) targeting the unbanked in developing markets around the globe. In 2016 the MMFA worked with the Financial Regulatory Department to produce a … stakeholders. >> The first is aimed at donor countries, which in the donors and government. Notification 277/2011. All rights reserved. requires a concerted effort between the Are you interested to be MMFA member? As such, regula-tion was among the primary concerns of the government when microfinance was allowed to operate in the country. As part of this study, Intellecap analyzed gender gaps in the current landscape of the microfinance sector in Myanmar for employees and clients of MFIs.The study contains findings from a survey of over 1,600 employees from eight leading microfinance institutions in Myanmar, as well as interviews with over 450 women microfinance clients. of consultation with and capacity building of MicroFinanza Rating India EXCELLENT: A+-English 08/2020 cloud_download: Maha. Finnfund, which invests in responsible and profitable businesses in developing countries, has injected US$5.5 million in Early Dawn Microfinance Co Ltd, the third largest microfinance company in Myanmar in terms of client outreach. Expanding Financial Access (EFA) UNCDF Myanmar is currently implementing the Expanding Financial Access (EFA) country programme, aimed at increasing formal financial access in Myanmar. The report, Gender and Microfinance in Myanmar: The Business Case for Action was produced jointly by IFC's Gender and Economic Inclusion Group and Financial Institutions Group. 3 Interview with Myanmar Rice Association, June 2012. MMFA aims to promote transparency, sustainability, and quality of microfinance services by offering training opportunities and other relevant services to its members. The report contains over 110 pages of analysis and data, and was produced in partnership with the British Chamber of Commerce in Myanmar, and Baker McKenzie law firm. Countries such as Afghanistan, Myanmar and Pakistan also have low outreach due to a variety of factors. access to affordable rural finance. Reference Exchange rate (WA market rate) 1,334.3: Interbank Market WA rate: 1,335.2: Bank-customer Market WA rate: 1,333.0 2013. Microfinance has great potential in Myanmar to help alleviate poverty, in conjunction ongoing reforms. Evaluation: FMO improved microfinance sector in Myanmar Right after the 2015 elections, FMO started to invest in Myanmar’s financial sector. Description Fiscal Year Download ; Audited Financial Report: 2019: View Document: Audited Financial Report: 2018-2019: View Document: Audited Financial Report Please complete the following steps.... Room #008 (Ground Floor), Building C1, Sa-bai Street, IFC/CGAP Microfinance in Myanmar Sector Assessment Report. introducing a specific microfinance regulatory (Sri Lanka, Indonesia), to a mix of both (India). Microfinance has great potential in Myanmar to help alleviate poverty, in conjunction ongoing reforms. Financial Regulatory Department, Ministry of Finance and Revenue. © Copyright 2021 Online Burma/Myanmar Library. The Burmese government views fintech as crucial in tackling the last-mile problem and has also embarked on a plan to liberalise the sector for greater foreign participation. The Government gives an important role to it and more comprehensibly to Inclusive Finance as a means to reduce poverty. ... Report abuse. MIX Market data has been reported by financial services providers (FSPs) targeting the unbanked in developing markets around the globe. Early Dawn Microfinance Company Limited (DAWN) is one of Myanmar’s largest and most prominent microfinance institutions, serving local microentrepreneurs and small business owners without or with limited access to formal financial services. An evaluation was conducted to assess the impact of FMO’s early engagement for the banking sector, local economy and financial inclusion. framework. >> The first is aimed at donor countries, which in the short- to medium-term will play a key role for the development of microfinance. No.277A, Insein Roadd, West Gyo Gone Quarter, Insein Township, Yangon. Directive 4–2013 (Mobile Banking Directive). Overview of Microfinance in Asia/Pacific (WSBI) New Report from MIX on microfinance in Asia How microfinance law helps regulate the sector Powered by Google MMFA contributes to enhance sector coordination by providing a platform to share information and best practices and acts as the representative of microfinance practitioners before donors and investors as well as regulators and supervisors contributing to a conducive legal and regulatory environment. Myanmar’s ThitsaWorks bags funding from BOD Tech Ventures to scale operations October 22, 2020 by Thiha ThitsaWorks, a digital solutions provider for microfinance institutions (MFI) in Myanmar, has bagged an undisclosed amount of minority investment from early-stage venture capital firm … Myanmar authorities and other microfinance MMFA General Assembly 2020 and Microfinance Sector Meeting, Credit Analysis training on Individual loan ( Mar, 2020), Awarenesss raising workshop on Anti- Money Laundering (AML) 14.2.2020, Management Skill Training (17 & 18 Feb, 2020), Loan Officer Training in Naypyitaw ( 18-20 Feb,2020), Risk and Internal Audit Club ( 11.2.2020), Management Skill Training ( 27 & 28 Jan,2020), Risk Management Training for MFIs ( 20-23 Jan, 2020), Microvision Training ( Dec 12 & 13, 2019), Inaugural Myanmar Microfinance Forum Held in Nay Pyi Taw, Embedded video for Operational Risk Management in MFI, Embedded video for Social Performance and Financial Performance, Social Performance and Financial Performance. Focus: Rakhine has the highest poverty and unemployment rates in Myanmar.Programming in Rakhine covers the four key thematic areas of LIFT’s strategy: agriculture, decent work and labour mobility, financial inclusion, and nutrition. The future of micro-finance in Myanmar is digital, and that future is bright. Myanmar - Microfinance in Myanmar sector assessment Toggle navigation. Appreciations are also extended to Yuan Xu, IFC Country Manager for Myanmar and Thailand. We are dedicated to working with the most vulnerable families and communities regardless of religion, race, ethnicity gender, to create lasting change in their lives. Poverty does not have a single source, and there is unlikely to be a silver bullet to solve it. It is recommended that a specific Annapurna Microfinance Pvt. microfinance, private equity, capital markets and mobile money. sector as part of their effort to alleviate poverty government, donors and the other microfinance Microfinance was first introduced to Myanmar in 1997 by the United Nations Development Program’s … The data were reported to MIX for inclusion in its MIX Market platform and related products for dissemination to a broad public. 2021-01-14. other sources of financing, donors should increase Moe Min Zaw joined Fullerton Myanmar in 2015 as a Branch Manager, and has since taken on various roles in different departments including Risk Management. Moe Min Zaw has a Bachelor of Science in Maths from Magway University. Myanmar - Microfinance in Myanmar sector assessment. We would like to take this opportunity to thank all those who generously provided their time and insight. "...The development of microfinance in Myanmar Khine Tun joined the IMF Myanmar Office in January 2014. their support towards Myanmar?s microfinance A handful of microfinance actors already exist in Myanmar and could pave the way to a NGO-MFIs structured model benefiting from the support of donors and government. In Myanmar, IFC is focused on helping the country meet its critical needs for infrastructure, especially power, telecoms and transport; agribusiness, and financial services, including support for the microfinance sector. Shortly after Accion and its partners invested in Dawn in March 2015, the technical assistance team sought to improve Dawn’s competitiveness and social impact. Myanmar Financial Services Monitor / News / ... Microfinance. Report on Wholesale Micronance upport Facility in Myanmar Page - 5 Van der Sterren Research/ Consulting/ Management Executive summary General findings • There is a diverged opinion on the image and even the word of Microfinance in Myanmar. In April 2018 FMR published an in-depth report on the Myanmar financial services market, spanning banking, insurance, microfinance, capital markets and mobile money. FINANCIAL RATING Moreover, Easy Microfinance will operate in full compliance with applicable laws in the Republic of the Union of Myanmar as well as with international best practice performance standards as prescribed by the International Finance Corporation (IFC): it will implement and adequately deploy an effective E&S Management system. structured model benefiting from the support of is introduced, enabling the development of a He is in charge of data management and economic analysis. Microfinance Procedures, Instructions and Accounting and Reporting Formats for the Microfinance Organization. 3 December. The financing will support Early Dawn’s expansion in Myanmar’s underserved townships and peri-urban areas. DGB Microfinance Myanmar. The report is aimed at a wide range of readers, including professionals directly active in Myanmar’s financial services sector, as well as a MicroFinanza Rating Myanmar EXCELLENT: A--English 08/2020 cloud_download: IMON INTERNATIONAL. This report summarizes a study undertaken in Myanmar between February and April 2016 to provide the Financial Regulatory Department (FRD) of the Ministry of Finance (MOF) and the microfinance (MF) industry with insights for improving the countrys regulatory framework for … This joint IFC/CGAP report is the first comprehensive publicly available assessment of the microfinance landscape in Myanmar since the enactment of country’s microfinance law in late 2011. Insurance Directive; Microfinance Directive; Committee Associate, IFC Myanmar. The Myanmar Microfinance Association (MMFA) is the national association gathering microfinance practitioners (registered microfinance institutions including NGOs, INGOs, foreign and local private companies as well as joint ventures) and other relevant stakeholders working to improve access to appropriate and affordable financial services for the poor and unbanked people in Myanmar. He holds degrees from Yangon Institute of Economics (B.Com and M.Dev.S) and Kyung Hee University of South Korea (M.A., Economics). gradually and in a phased manner, after a process Macroeconomic reforms, industrialisation, export promotion and investment in health and education are all required to benefit Myanmar’s poor. CBC Myanmar Microfinance Company Ltd is a subsidiary owned by Commercial Bank of Ceylon PLC. This report makes two sets of recommendations. Depending on each country, Sinmalite Yuzana Highway Complex, short- to medium-term will play a key role for the 2011. Developed under the guidance of the Myanmar MicroFinance Association and the Financial Regulatory Department of the Ministry of Finance and Planning.