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Microfinance Law and Practice May 11, 2011, 12:00PM to 3:00PM

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Microfinance Law and Practice May 11, 2011, 12:00PM to 3:00PM MICROFINANCE LAW AND PRACTICE Prepared in connection with a Continuing Legal Education course presented NSTITUTE at New York County Lawyers’ Association, 14 Vesey Street, New York, NY scheduled for May 11, 2011. I PROGRAM CHAIR CO-SPONSOR: NYSBA International Law Committee PROGRAM CHAIR & MODERATOR: CLE Janiece Brown-Spitzmueller, NYC HPD; Chair, Africa Committee NYSBA International Section FACULTY: Anita Bernstein, Professor, Brooklyn Law School Chuck Day, Director, Opportunity International (A Microfinance Institution) Steven Godeke, Principal, Godeke Consulting; Adjunct Professor, NYU Stern School of Business NYCLA Denise Scotto, Founder, Global Legal Strategies (Human Rights) 2 TRANSITIONAL AND NON-TRANSITIONAL MCLE CREDITS: This course has been approved in accordance with the requirements of the New York State Continuing Legal Education Board for a maximum of 2 Transitional and Non-Transitional credit hours; 2 Professional Practice. This program has been approved by the Board of Continuing Legal Education of the Supreme Court of New Jersey for 2 hours of total CLE credit. Of these, 0 qualify as hours of credit for ethics/professionalism, and 0 qualify as hours of credit toward certification in civil trial law, criminal trial law, workers compensation law and/or matrimonial law. Information Regarding CLE Credits and Certification Microfinance Law and Practice May 11, 2011, 12:00PM to 3:00PM The New York State CLE Board Regulations require all accredited CLE providers to provide documentation that CLE course attendees are, in fact, present during the course. Please review the following NYCLA rules for MCLE credit allocation and certificate distribution. i. You must sign-in and note the time of arrival to receive your course materials and receive MCLE credit. The time will be verified by the Program Assistant. ii. You will receive your MCLE certificate as you exit the room at the end of the course. The certificates will bear your name and will be arranged in alphabetical order on the tables directly outside the auditorium. iii. If you arrive after the course has begun, you must sign-in and note the time of your arrival. The time will be verified by the Program Assistant. If it has been determined that you will still receive educational value by attending a portion of the program, you will receive a pro-rated CLE certificate. iv. Please note: We can only certify MCLE credit for the actual time you are in attendance. If you leave before the end of the course, you must sign-out and enter the time you are leaving. The time will be verified by the Program Assistant. Again, if it has been determined that you received educational value from attending a portion of the program, your CLE credits will be pro-rated and the certificate will be mailed to you within one week. v. If you leave early and do not sign out, we will assume that you left at the midpoint of the course. If it has been determined that you received educational value from the portion of the program you attended, we will pro-rate the credits accordingly, unless you can provide verification of course completion. Your certificate will be mailed to you within one week. Thank you for choosing NYCLA as your CLE provider! New York County Lawyers’ Association Continuing Legal Education Institute 14 Vesey Street, New York, N.Y. 10007 • (212) 267-6646 Microfinance Law and Practice Wednesday, May 11, 2011 12:00 PM – 3:00 PM Table of Contents “Exploring Human Rights Implications of Microfinance Initiatives,” from the Selected Works of Rebecca Farrar, http://works.bepress.com/rebecca_farrar/1 “Microfinance Needs Regulation,” by Aneel Karnani, Stanford Social Innovation Review, Winter 2011. Opportunity International – A Microfinance Leader for 40 Years “Solution for Impact Investors: From Strategy to Implementation,” by Steven Godeke, Raul Pomares with Albert Bruno, Pat Guerra, Charly Kleissner, Hersh Shefrin, November 2009, Rockefeller Philanthropy Advisors; Reprinted with minor updates August 2010, ISBN 978-1- 61658-210-4. Andra Pradesh Micro Finance Institutions (regulation of money lending) Ordinance 2010 “Islamic Microfinance in the Midst of Armed Conflict” by Janiece Brown-Spitzmueller “Employing the Youth of the Revolution – A New Model for Microfinance in the North Africa”, by Carli Pierson, Microfinance Focus, May 5, 2011. “Swiss Capacity Building Facility Launches Microfinance and Microinsurance Credit Facility for Developing Countries”, Microfinance Focus, May 4, 2011. New York County Lawyers’ Association Continuing Legal Education Institute 14 Vesey Street, New York, N.Y. 10007 • (212) 267-6646 Microfinance Law and Practice May 11, 2011 12:00 PM – 3:00 PM AGENDA Program Chair and Moderator: Janiece Brown-Spitzmueller, NYC HPD; Chair, Africa Committee NYSBA International Section Faculty: Anita Bernstein, Professor, Brooklyn Law School Chuck Day, Director, Opportunity International (A Microfinance Institution) Steven Godeke, Principal, Godeke Consulting; Adjunct Professor, NYU Stern School of Business Denise Scotto, Founder, Global Legal Strategies 11:30AM – 12:00PM Registration 12:00 PM – 1:00 PM Lunch 1:00 PM – 1:10 PM Introductions and Announcements 1:10 PM – 3:00 PM Discussion From the SelectedWorks of Rebecca Farrar December 2008 EXPLORING HUMAN RIGHTS IMPLICATIONS OF MICROFINANCE INITIATIVES Contact Start Your Own Notify Me Author SelectedWorks of New Work Available at: http://works.bepress.com/rebecca_farrar/1 Abstract for Article : Exploring the Human Rights Implications of Microfinance Initiatives by Rebecca Farrar Microfinance and microcredit (“MFI”) programs have been advanced as a way to make the world a better place. These programs involve making small loans to people who would otherwise be unable to borrow money to facilitate them starting their own businesses: frequently, the programs focus on women borrowers in developing countries. Muhammad Yunus of the Grameen Bank says microfinance and microcredit programs can literally end world poverty. This Article explores MFI from several perspectives, with particular emphasis on human rights issues. The emphasis of MFI programs on women in developing countries makes it important to consider these programs in terms of both women’s and indigenous rights, while MFI as an approach to poverty merits a discussion of economic rights. The Article first explores the concept and scope of MFI programs, identifying key components that the programs share. Particular attention is paid to the Grameen Bank and its much-lauded and prototypical approach. The Article then explores the human rights implications of MFI programs in detail, within the context of economic, indigenous and women’s rights. One particular aspect of Grameen’s program, namely the use of Sixteen Decisions, is also critiqued, applying organizational behavior theory. The Article also examines MFI in respect to other approaches to poverty alleviation in the developing world, including property rights’ initiatives, women’s cooperatives, and social enterprise approaches. Exploring Human Rights Implications of Microfinance Initiatives “Poverty does not belong in a civilized human society. It belongs in museums.” Grameen Bank founder Muhammad Yunus “Give a man a fish, he’ll eat for a day. Give a woman microcredit, she, her husband, her children and her extended family will eat for a lifetime.” Bono Microcredit and microfinance 1 (“MFI”) programs are increasingly touted as a key solution to making the world a better place. These programs, largely offered to women, have already changed individual lives and families, and there is great potential to change more. Muhammad Yunus, founder of Grameen Bank and winner of the Nobel Peace Prize in 2006 for his extensive work with MFI, says microfinance and microcredit programs can literally end world poverty. 2 This Article will explore MFI from several perspectives. Part I will explore the concept and scope of current MFI programs, describing key components of these programs and assessing comments from both fans and critics. The Grameen Bank, which has been studied extensively and has acted as a model for several other programs, will be examined in detail. Part II of this Article considers MFI in the context of human rights considerations, including economic, indigenous, and women’s rights. Part III will consider MFI in comparison with other approaches to 1 The word “microcredit” refers specifically to the giving of small (micro) loans (credit) to clients while the term “microfinance” is broader and encompasses loans, savings, insurance, leasing and other financial services. Since most microcredit programs have grown in scope and most providers of microcredit also offer their clients access to other financial services, this paper will generally use the term “MFI” to describe initiatives that involve microcredit and microfinance, except when commentary is specific to “microcredit” programs only, or where “microcredit” has a meaning separate from “microfinance”. 2 MUHAMMAD YUNUS , CREATING A WORLD WITHOUT POVERTY (2007), p. 237-248 (speech delivered in Oslo, Norway, December 10, 2006 after receiving the Nobel Peace Prize). poverty, including property rights initiatives, women’s cooperatives and social enterprise approaches. PART I: Microfinance Microfinance is essentially a very simple concept. The idea is to take small amounts of money, and loan this money to someone who otherwise couldn’t get a loan so the person can start a business. This simple concept is being employed broadly right now, all around the world. 3 Groups
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