Microfinance Practice: [MFP] New Publication - The New Microfinance Handbook

Dear Colleagues,

I am pleased to share with you a new publication released February 12^th, which updates the original Microfinance Handbook published by the World Bank. The New Microfinance Handbook addresses the need for increased financial inclusion by examining the financial market system and promoting a thorough understanding of client needs. Please see announcement below which also provides a link where it can be downloaded for free.

As well, at 10AM EST today, Joanna Ledgerwood, author and editor of The New Microfinance Handbook, and Steve Rasmussen, Manager of Technology and Business Model Innovation at CGAP, will answer questions during a live web chat addressing the evolving understanding of financial inclusion, the demands of clients, how financial markets can work better for the poor, and the role of new technology in expanding financial access.

Join the chat live on CGAP.org or submit questions in advance via the comments section or Twitter hashtag #NewMFH.

http://www.cgap.org/events/live-chat-do-financial-markets-work-poor

Kind regards

Joanna

How can the vast majority access financial services?

Imagine a life without access to financial services: no deposit account, no pension, no debit card, no fire insurance, no college savings plan, and no home mortgage. Life would be an incredibly stressful roller coaster ride, and most dreams would remain unfulfilled. For us, life without financial services is unimaginable.

Yet the majority of the world's poor have no access to formal financial services. They must rely on friends and family to help them in hard times, or the proverbial mattress to save for a rainy day or to ensure they have enough to pay school fees.

The New Microfinance Handbook addresses the need for increased financial inclusion by examining the financial market system, beginning with client needs. Historically the focus of microfinance has been on improving the supply side, primarily building institutions. Framing the book with the client as the central element recognizes the emerging awareness that the financial service needs of poor people, like those not so poor, are many. We now appreciate the importance of understanding demand, acknowledging the variety of financial service providers, and the need for rules and support services to sustainably deepen outreach. For financial markets to work better for the poor, a multitude of market actors need to work together.

Efforts to increase financial inclusion reflect the multidisciplinary intersection of finance, technology, and development, where new ideas are changing the art of what is possible. The actors reflect this diverse ecosystem and include everything from policy makers to mobile operators to community networks.

The New Microfinance Handbook brings together leading industry thinkers and organizes their ideas into a concise reference for all development finance stakeholders. The book methodically outlines the actors and functions within a financial market system and details what is needed to increase financial inclusion with a particular focus on addressing the needs of poor households.

"... the best single source compendium on the 'how to' of financial services for the poor, and I recommend it highly."
	—Robert Peck Christen, President, Boulder Institute of Microfinance

For a limited time: SAVE 30% when you order the book online. Simply enter coupon code MFHB30 when checking out to claim your discount. But hurry, the offer is valid only until March 14, 2013.

For Professors

If you are interested in using The New Microfinance Handbook in your class, download a copy from the World Bank Open Knowledge Repository for your review.

If you are interested in an exam copy, or would like to place a bulk order for your institution, please email slee11@worldbank.org for more information.