MICROCAPITAL BRIEF: Vietnam’s First Licensed Microfinance Institution TYM is Operational

The TYM (Tao Yeu May) Fund, a Vietnamese financial institution founded by the Vietnam Women’s Union in order to help implement the poverty alleviation program of the government, reportedly has become the first microfinance institution licensed by the State Bank of Vietnam, Vietnam’s central bank.

The licensed status provides TYM the ability to obtain and mobilize savings accounts as well as obtain capital from domestic and international financial institutions. As TYM is now under the supervision of the State Bank of Vietnam, it will receive support from the government and be subject to regulatory requirements.

As of fiscal year end 2009, the TYM Fund reports to the Microfinance Information Exchange (MIX) Market, the microfinance information clearinghouse, assets of USD 11.9 million, a gross loan portfolio of USD 9.8 million and 40,282 active borrowers. As of 2008, there are 21 Vietnamese microfinance institutions reporting data to the Microfinance Information Exchange (MIX), the microfinance clearinghouse, with a gross loan portfolio of USD 3.1 billion and total assets of USD 3.2 billion.

By Jennifer Shevock, Research Associate

About TYM Fund:
The TYM Fund was founded in 1992 by the Vietnam Women’s Union in order to help implement the poverty alleviation program of the government. It was originally a replication of the Grameen banking model adapted to Vietnam. TYM operates 44 outlets in ten northern and central Vietnamese provinces, and provides savings, loans, education, advice and social activities to its clients and communities. As of fiscal year-end 2009, the TYM Fund reports to the Microfinance Information Exchange (MIX) Market, the microfinance information clearinghouse, assets of USD 11.9 million, a gross loan portfolio of USD 9.8 million and 40,282 active borrowers.

Sources and Additional Resources:
“First microfinance organization operational in Vietnam” August 26, 2010. http://vietnambusiness.asia/first-microfinance-organization-operational-in-vietnam/

MICROCAPITAL BRIEF: “Oikocredit Invests $5m in Alalay Sa Kaunlaran Inc of the Philippines, Capital Aid Fund for Employment of the Poor (CEP) of Vietnam, The TYM Fund of Vietnam and Thaneakea Phum (Cambodia) Limited” August 23, 2010. https://www.microcapital.org/?s=vietnam&x=0&y=0

Microfinance Information Exchange (MIX): Microfinance institutions in Vietnam: http://www.mixmarket.org/mfi/country/Vietnam

MicroCapital Universe: TYM Fund: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=TYM+Fund

Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/

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