Source: Microfinance Information eXchange (MIX).
Original press release available here.
WASHINGTON, March 3 – Microfinance is in the throes of dramatic changes, creating significant risks to the success and stability of the sector. According to a new report, questions abound regarding the industry’s ability to adapt to the demands brought about by these changes, while adhering to the social mission of providing banking services to the world’s poor.
Banana Skins, 2008 is the most comprehensive survey undertaken of the risk outlook for the microfinance industry. The survey was produced by the Centre for the Study of Financial Innovation (CSFI) and sponsored by Citi Foundation and CGAP. The Microfinance Information eXchange (MIX) is proud to have played a key role in providing the underlying data for the survey questionnaire and acting in an advisory capacity for the development of the survey.
The Microfinance Banana Skins report reflects the views of more than 300 respondents from 74 countries, who identify the greatest threats to the business in poor management and inadequate corporate governance. It focuses on MFIs with more than USD 5 million in assets which are profitable and capable of commercial growth. These number about 350 and account for the bulk of microfinance assets globally, according to MIX data.
The Microfinance Information eXchange, Inc. (MIX) is the leading provider of business information and data services for the microfinance industry. Dedicated to strengthening the microfinance sector by promoting transparency, MIX provides detailed performance and financial information on microfinance institutions, investors, networks and service providers associated with the industry.
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