[MFP] FW: Webinar: The Formal Financial Institution Perspective

 

Hi everyone,

 

Some of you may wish to sign up for this webinar.

 

As we know, linking informal groups with formal service providers is not an easy thing. In India, SHGs  are getting linked to Banks and other formal institutions or over 2 decades, but not without their own challenges.  

 

Across Africa, as VSLAs/ Savings groups become wide-spread and popular, they too are increasingly getting linked to formal financial institutions; though the scale remains somewhat limited. CARE/ ACCESS Africa has been experimenting with pilots in a few countries, especially where VSLA programmes have matured.

 

This is a 2^nd webinar on this subject,  to listen to representatives of three Banks (Barclays, Equity and Mwanga Community Bank) to hear their views on how the experience has been so far, what are the opportunities and barriers.

 

Best wishes,

 

Anuj

 

 

From: SEEP Network [mailto:SEEP_Network@mail.vresp.com]
Sent: Wednesday, October 02, 2013 4:34 PM
To: Anuj Jain
Subject: Webinar: The Formal Financial Institution Perspective

 

 

Can Formal Work with Informal? Lessons, Opportunities and Challenges for Deepening Financial Inclusion: Part 2
Date Thursday, October 10 9:00-10:30 am EST Location Online Webinar (Link will be provided closer to the event to registered users). Facilitator Prabhat Labh of MasterCard Foundation   RSVP Here	How are banks working with VSLAs? What have the banks done so far in this space? How do banks look at financial inclusion and at working with savings groups as a financial inclusion strategy? These are some of the questions that will be explored in this webinar with representatives of Barclays Bank, Equity Bank and Mwanga Community Bank, moderated by Prabhat Labh of the MasterCard Foundation.   Speakers Abby Ghuhia, Managing Director of Mwanga Community Bank Michael Kaddu, Head of Corporate Affairs at Barclays Bank Uganda Phyllis Warwire, Team Leader of MicroCredit at Equity Bank
Photo courtesy of Sarah Elliot/CARE The importance of expanding access to financial services for the world's poorest people is increasingly recognised. But despite the growing international attention to the issue, numerous barriers remain. An estimated 2.5 billion people do not have an account with a bank or other financial institution, severely limiting their ability to save, invest and plan for their future. The "savings revolution" taking place in many developing countries, which has seen millions of people join informal community savings groups, is now being recognized as a possible solution.  These groups fill some of the gap left by the absence of banks by allowing members to save flexibly, access small loans to invest in small businesses, and build a social fund to strengthen their ability to cope financially with unexpected events such as an illness in the family. CARE's Village Savings and Loan Association (VSLA) group model has proven to be one of the world's most effective, with over three million members in Africa alone. Photo courtesy of CARE Kenya To respond to emerging demands of VSLA members for broader range of financial products and services, CARE has tested eight innovative pilots,  linking informal savings groups with formal financial institutions, with exciting results that could help deepen the financial inclusion and connect the developing world's "unbanked" with the formal global economy.  Read more in "Connecting the World's Poorest People to the Global Economy." On October 10th, 2013 at 9:00-10:30 am EST join the discussion on lessons, opportunities and challenges emerging from CARE's 8 financial linkage initiatives. Please RSVP here to let us know if you will join us.  Additional information is available online on the events page.

 

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