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International Workshop on Microfinance

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International Workshop on Microfinance International Workshop MICROFINANCE JULY 2011 Colloque_microfinance_GB_2011.indb 1 12/12/2011 15:04:23 Colloque_microfinance_GB_2011.indb 2 12/12/2011 15:04:56 FOREWORD During the French Presidency of the G20, the Ministry for the Economy, Finance and Industry and the Banque de France entrusted the Microfi nance Observatory with the organisation of a workshop to discuss some of the major issues in the fi eld of microfi nance. This workshop took place on 8 July 2011 at the Palais du Luxembourg in Paris, home to the French Senate, and was chaired by the President of the Senate Finance Commission, Jean Arthuis. Bringing together around forty speakers from different horizons (central banks, international organisations, banks, NGOs, investors, etc.) and all continents, the debates provided an opportunity to compare experiences in microfi nance between South and North countries and made a signifi cant contribution to the work of the G20 on fi nancial inclusion. The discussions notably focused on the importance of respecting the original spirit of microfi nance and on the need to implement microfi nance regulations tailored to the specifi c circumstances of each country. The aim of such regulations would be to prevent bad business practices from exacerbating in certain countries. Michel Camdessus President of the Microfi nance Observatory of the Banque de France November 2011 Banque de France • International Workshop on Microfi nance • July 2011 3 Colloque_microfinance_GB_2011.indb 3 12/12/2011 15:04:56 Colloque_microfinance_GB_2011.indb 4 12/12/2011 15:04:56 CONTENTS CONTRIBUTORS 9 WORKSHOP SUMMARY 27 OPENING ADDRESSES Jean ARTHUIS, Chairman, the Senate’s Finance Committee 33 Christian NOYER, Governor, Banque de France 35 Muhammad YUNUS, Founder, Grameen Bank 37 Jacques ATTALI, President, Groupe PlaNet Finance 40 Ramon FERNANDEZ, Director General of the Treasury, Minister of the Economy, Finance and Industry 42 ROUND TABLE 1 TO WHAT EXTEND CAN MICROFINANCE CONTRIBUTE TO FINANCIAL INCLUSION AND POVERTY REDUCTION? 45 Chairperson: Maria NOWAK, CEO, Founder, Adie 47 Speakers: Stuart RUTHERFORD, CEO, Founder, Safesave 48 Essma BEN HAMIDA, Co-founder, Executive Director, Enda inter-arabe 49 Channy IN, President & CEO, Acleda Bank 51 Luiz AWAZU PEREIRA DA SILVA, Deputy-Governor, Banco Central do Brasil 52 Rafael JABBA, Principal Investment Offi cer, African Development Bank 54 Fernando JIMÉNEZ-ONTIVEROS, Deputy Manager, Multilateral Investment Fund, Inter-American Development Bank 56 Mahmoud MOHIELDIN, Managing Director, World Bank 57 Dov ZERAH, Managing Director, Agence française de développement 59 Magali BRABANT, Investment Director, Territorial and Network Development Directorate, Caisse des dépôts et consignations 61 Pervenche BERÈS, Member, European Parliament 63 Key observor: Muhammad YUNUS, Founder, Grameen Bank 65 Banque de France • International Workshop on Microfi nance • July 2011 5 Colloque_microfinance_GB_2011.indb 5 12/12/2011 15:04:57 CONTENTS ROUND TABLE 2 H OW CAN ADVANCED ECONOMIES LEARN FROM THE DEVELOPMENT OF MICROFINANCE ACTIVITIES IN DEVELOPING COUNTRIES 67 Chairperson: Arnaud VENTURA, Co-founder, Vice-President, Groupe PlaNet Finance 69 Speakers: Chris DE NOOSE, Managing Director, World Savings Bank Institute 71 Alfred HANNIG, Executive Director, Alliance for Financial Inclusion 73 Michael SCHLEIN, CEO, Accion 75 Robert CHRISTEN, Director, Financial Services for the Poor Initiative, Bill and Melinda Gates Foundation 78 Jean-Luc PERRON, Managing Director, Grameen-Crédit Agricole Microfi nance Foundation 80 José Francisco de CONRADO, Chairman, MicroBank – La Caixa 82 Bold MAGVAN, CEO, XacBank 84 Questions & Answers 86 ROUND TABLE 3 T HE FUNDING OF MICROFINANCE: USING LOCAL RESOURCES, TRANSFERS OF SAVINGS FROM THE NORTH TO THE SOUTH, INTERNATIONAL FINANCING 89 Chairperson: Tilman EHRBECK, CEO, Consulting Group to Assist the Poor 91 Speakers: Daniel LEBÈGUE, CEO, Épargne sans frontière 92 Arnaud POISSONNIER, CEO, Babyloan 94 Plutarchos SAKELLARIS, Vice-President, European Investment Bank 96 Marc BICHLER, Chairman, European Microfi nance Platform 98 Sébastien DUQUET, Managing Director, PlaNIS responsAbility 100 Cyril ROUSSEAU, Head of Offi cial Development Assistance and Multilateral Development Institutions, French Treasury 103 Questions & Answers 105 6 Banque de France • International Workshop on Microfi nance • July 2011 Colloque_microfinance_GB_2011.indb 6 12/12/2011 15:04:57 CONTENTS ROUND TABLE 4 THE REGULATION OF MICROFINANCE 107 Introduction: Paul LORIDANT, Secretary-general, Observatory of Microfi nance 109 Chairperson: Njuguna NDUNG’U, Governor, Central Bank of Kenya 110 Speakers: Abderrahim BOUAZZA, Head of the Banking Supervision Unit, Bank Al-Maghrib 112 Nestor ESPENILLA, Deputy-Governor, Central Bank of the Philippines 114 Muliaman D. HADAD, Deputy-Governor, Bank Indonesia 116 Armand BADIEL, Director of Financial Stability, Central Bank of West African States 118 Jean-Michel SEVERINO, CEO, Investisseurs & Partenaires Conseil 120 Vijay MAHAJAN, CEO, Basix 122 Éric DUFLOS, Senior Microfi nance Specialist, Consultative Group to Assist the Poor 124 Keng Heng TAN, Member, Secretariat of the Basel Committee on Banking Supervision 126 Chuck WATERFIELD, CEO, Microfi nance Transparency 128 Questions & Answers 131 CONCLUDING REMARKS Jean-Pierre LANDAU, Deputy-Governor, Banque de France 135 PRESS RELEASE 137 This publication contains transcriptions as well as translations of the presentations given at the workshop. The professional capacities of the speakers referred to in the publication were those at the date of the workshop. It was compiled under the supervision of Paul Loridant, Secretary General of the Microfi nance Observatory and his team, who also organised and prepared the workshop. Banque de France • International Workshop on Microfi nance • July 2011 7 Colloque_microfinance_GB_2011.indb 7 12/12/2011 15:04:57 Colloque_microfinance_GB_2011.indb 8 12/12/2011 15:04:57 CONTRIBUTORS About the contributors (July 2011) Banque de France • International Workshop on Microfi nance • July 2011 9 Colloque_microfinance_GB_2011.indb 9 12/12/2011 15:04:57 CONTRIBUTORS About the contributors (July 2011) Jean ARTHUIS Chairman, Finance Committee of the French Senate Jean Arthuis graduated from the École supérieure de Chairman of the Finance Committee since July 2002. commerce of Nantes and Sciences Po Paris. Qualifi ed He was Secretary of State (March 1986-May 1988), General Chartered Accountant, he is a former consultant in an Rapporteur on the budget to the Senate (1992-1995), international audit fi rm. He is also founder of a fi rm of Economic Development and Planning Minister (May- chartered accountant and statutory auditors. August 1995), Economy and Finance Minister (August 1995- June 1997). Former mayor of Château-Gontier (1971-2001), he is President of Mayenne Regional Council since March 1992, He has written several books, his last book being “SOS Senator of the Mayenne since 1983, Member of the fi nances publiques : Osons les vraies réformes” (Éditions Centrist UDF group in the Senate. He is currently Calman-Lévy – March 2011). Jacques ATTALI President, PlaNet Finance Group Writer, former Special Adviser to the President of the École des mines, Sciences Po Paris and the École nationale Republic from 1981 to 1991, founder and fi rst President of d’administration. He taught economic theory at the École the European Bank for Reconstruction and Development polytechnique, the École des ponts et chaussées and the in London from 1991 to 1993, Jacques Attali is currently université de Paris-Dauphine. He has received honorary CEO of A&A, an international consulting fi rm specialised doctorates from several foreign universities. in new technologies, based in Paris, and President of PlaNet Finance, an international solidarity organisation whose He is a columnist for the magazine L’Express. He has written mission is to fi ght poverty by improving access to fi nancial more than fi fty books, translated into more than thirty services through the development of microfi nance. languages, with over eight million copies sold all over the world, including essays (dealing with a wide variety of He has a Doctorate in economics and is a graduate of subjects ranging from mathematical economics, to music), the École polytechnique (fi rst in the class of 1963), the biographies, novels, children’s tales and plays. Luiz AWAZU PEREIRA da SILVA Deputy-Governor, Banco Central do Brasil Luiz Awazu Pereira da Silva is Deputy-Governor of the Institute of Fiscal and Monetary Policy of the Ministry of Banco Central do Brasil, in charge of International Affairs Finance, Tokyo and Director, Country Risk and Economic and of Financial Regulation. Previously he was Deputy- Analysis Department at the Export-Import Bank of Japan, Finance Minister, in charge of International Affairs, Tokyo. Ministry of Finance Brazil, Chief Economist, Ministry of Budget and Planning Brazil, Regional Country Director He holds a PH. D. in economics and a Master of philosophy with the World Bank (Southern Africa Department 2) from the university of Paris-Sorbonne. He graduated from and Advisor to the Chief Economist of the World Bank, the École des hautes études commerciales (HEC) – Paris and Washington DC. He also worked as Visiting Scholar, from Science Po Paris. 10 Banque de France • International Workshop on Microfi nance • July 2011 Colloque_microfinance_GB_2011.indb 10 12/12/2011 15:04:57 CONTRIBUTORS About the contributors (july 2011) Armand BADIEL Director, Financial Stability Directorate, Central
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