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

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
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World Bank, Washington, DC
Africa | Benin | Tanzania | Ghana
2012-06-25T17:36:08Z | 2012-06-25T17:36:08Z | 2005-04

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.

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