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Our Team

MFTransparency has team members based around the world. Our head office is a group based in the US that supports our team members working in the countries where we currently have projects underway. We are proud of the diversity of our team in terms of background and experience. We hope you enjoy taking a moment to get to know us.

The MicroFinance Transparency Team

Chuck Waterfield
Pennsylvania, USA

Chuck Waterfield has 25 years experience in microfinance, with a mixture of practical field experience (six years starting MFIs in both Haiti and Bolivia) and experience leading network strategy development (serving as microenterprise director for both MEDA and for CARE International). He developed Microfin, the most popular financial planning software in the microfinance industry and teaches business planning courses around the world, with more than 3,000 microfinance professionals having been trained in his courses. His current work as an independent consultant includes clients across the industry.

He has formerly been on the faculty of Columbia University School of International and Public Affairs for six years,the Boulder Microfinance Training Program for ten years and Southern New Hampshire University’s Microenterprise Development Institute for eight years. In addition to Microfin, he has a broad range of products and publications including the SEEP FRAME Tool, the CARE Credit and Savings Sourcebook, and CGAP Handbook on Management Information Systems. In 2008, he founded MicroFinance Transparency and works as the CEO.


Carlos MinattiCarlos Minatti
Website Developer
Córdoba, Argentina

Carlos supervises project management, system architecture, and development activities for MFTransparency’s website and data collection and analysis platform. He is a Software Engineer with 10 years of experience in software development. He has a host of experience building web and Android applications, and always aims to deliver the best possible user experience. Carlos is passionate about Internet and communication technologies and the way they help people solve daily problems.



Begashaw Woldemichael
Pricing Data Manager
London, UK

Begashaw manages pricing data projects, and collaborate in resources and educational materials development at Microfinance Transparency. He is a microfinance expert with more than 6 years diverse experience including experience in helping set up a guarantee fund and technical assistance facility for microfinance institutions in Ethiopia and three years’ experience working as microfinance examiner at the Central Bank of Ethiopia (Financial Sector Regulator). Begashaw holds an MA in Microfinance from State University of Bergamo, Italy and has a deep passion and belief that innovative and transparent microfinance practice will alleviate poverty.

The MicroFinance Transparency Board of Directors

Tony Sheldon
New York, USA

Tony Sheldon is Executive Director of the Program on Social Enterprise and Lecturer in Economic Development at the Yale School of Management. Tony also works as an independent consultant; since 1990 he has worked with microfinance institutions in Africa, Asia, Latin America and Eastern Europe, primarily in the areas of financial management and business planning. He has also worked with several networks and funders, including the SEEP Network, the Ford Foundation, the World Bank, CGAP, ShoreBank International, and Women’s World Banking. He was on the faculty of the Boulder Microfinance Training Program from 1997 to 2006 and of Southern New Hampshire University’s Microenterprise Development Institute from 1999 to 2004. He is the author of several publications, including the CGAP “Handbook on Business Planning and Financial Modeling for MFIs” (with Chuck Waterfield), WWB’s “Principles and Practices of Financial Management,” and SEEP’s “Financial Ratio Analysis of MFIs” (with the SEEP Financial Services Working Group).

María Sara Jijón C.
Quito ,Ecuador

Maria Sara is an international consultant, legal counsel, trainer, and coach. Maria Sara is Board member and founder of the Ecuador Chapter of Women Advancing Microfinance, a network of professional women that works on gender, microfinance, and economic empowerment. She is founding member of Red Mujeres por el Ecuador, a network of professional and businesswomen, which mission is to advance the opportunities of women in Ecuador. She currently works on issues such as negotiation, deal making, conflict management, training, facilitation, and coaching, with her own consultancy firm, LexAnimi. With 20 years experience in the design, development and execution of rule of law and good governance programs and projects, Maria Sara’s areas of interest are banking and finance, economic development and social entrepreneurship, with a special focus on financial sector regulation, alternative finance and microfinance, and consumer protection within the financial industry. She holds an LLB from the Pontificia Universidad Católica del Ecuador (PUCE), and an LLM from Harvard University (HLS). Maria Sara has worked as Legal Counsel and Program Manager at IDLO, Rome-Italy; as In-House Counsel of ABN AMRO Bank N.V., Ecuador Branch; as Legal Advisor to the Vice-minister of Finance of Ecuador, within, and as Tax and Legal Consultant for Price Waterhouse & Co., in Quito. Along with her native Spanish, Maria Sara is fluent in English and Italian, and proficient in French.

Azish Filabi 

Legal Group of the Federal Reserve Bank of New York (FRBNY)

New York, United States 

Azish Filabi is an Ethics Officer and Assistant Vice President in the Legal Group of the Federal Reserve Bank of New York (FRBNY).  In her current role, she advises and manages FRBNY bank examiners’ conflicts of interest and compliance with the Code of Conduct. Previously at FRBNY, she worked as a bank regulatory lawyer advising on the Bank Holding Company Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act.  She also worked as a corporate lawyer at the New York City office of Curtis, Mallet-Prevost, Colt & Mosle, LLP.  She currently serves as a Sr. Officer of the New York State Bar Association, International Section, and as co-chair of its Microfinance and Financial Inclusion Committee, a committee she helped create in 2012.  From 2009-2011, Ms. Filabi was Chair of the ACCION USA Microfinance Council, a young professional group that contributes to the sustainability of ACCION East by providing strategic advice and assistance, and advocating for microfinance.

Ms. Filabi has a J.D. from the University of Virginia School of Law, an M.A. in International Affairs from the Johns Hopkins University School of Advanced International Studies (SAIS), and a B.A. as an Echols Scholar from the University of Virginia. Her service as an MFT Board Member is solely in her personal capacity and not as a representative the Federal Reserve System.

Emmanuelle photo

Emmanuelle Javoy
Independent Consultant

Paris, France 

Emmanuelle Javoy is an independent consultant specialized in the analysis of the performance of Microfinance Institutions and Microfinance Investment Vehicles. She has worked for eleven years for Planet Rating, a rating agency specialized in microfinance, as an analyst, Quality Manager and then as its Managing Director for 6 years. Emmanuelle has supervised the production of more than 200 rating reports, which gives her a very deep knowledge of microfinance institutions operations and risk profile. This experience has notably allowed her to contribute to the development of the Smart Campaign Client Protection Certification Standards and led her to work on the creation of the MIMOSA index, which is designed to measure the risk of market saturation and over-indebtedness in microfinance.

Ging photoGing Ledesma 
Social Performance and Credit Analysis Director, Oikocredit


Ms Ledesma brings to the board a vast amount of strategic and operational experience in development economics. Ledesma joined Oikocredit in 1999 as deputy regional manager for Southeast Asia. She subsequently held positions as regional manager Southeast Asia and manager monitoring & administration before becoming Oikocredit’s first manager social performance in 2009. As a pioneer and driving force behind Oikocredit’s social performance department, Ledesma is focused on strengthening social performance within the organization, the microfinance sector and promoting the welfare of microfinance clients. Before joining Oikocredit, Ms Ledesma established a track record with her development work for various organizations in Asia, including Asia Partnership for Human Development in Hong Kong and the National Secretariat for Social Action, Justice and Peace in the Philippines. She has a degree in Business Administration from the University of the Philippines.  Ging joined Oikocredit’s international office in the Netherlands in 2005.

Murray Gardiner
Toronto, Canada / Cape Town, South Africa

Murray Gardiner is the Manager of Microfinance and Community Banking at Temenos. Temenos is a multi-national
banking technology company with 700 commercial and 140 commercial microfinance bank clients in over 100 countries that are using the Temenos core banking software. Murray holds a Masters Degree from York University (Toronto Canada) in Cooperative Studies and Business. He has more than 25 years of experience with microfinance and community banking technology services as an entrepreneur, senior executive and manager. He also has direct operational and management experience in microfinance and community banking both advanced and emerging financial markets. Murray is a business and core banking technology expert in microfinance and community banking in emerging markets. He has recent business experience in more than 55 countries in Europe, North America and the emerging markets of Asia, Africa and Latin America.

Narasimhan Srinivasan
Maharashtra, India

Narasimhan Srinivasan has a Masters degree in Economics, professional certification in banking, and a certificate in training and development. He is deeply interested in development economics and development finance, especially rural finance, microfinance and livelihoods. Mr. Srinivasan has more than 30 years of involvement in financial sector in India, of which five years with the Central Bank (RBI) and 24 years with the Apex rural development bank (NABARD). He left NABARD from a senior position to take up consulting, which he did over the last two years in India and Vietnam providing services to World Bank, CGAP, IFAD, UNDP, UNOPS, ADB, GTZ, Microsave, Sir Ratan Tata Trust and Government of India. Mr. Srinivasan is involved in many significant initiatives in rural finance, institution development and strengthening, product development, training and capacity building, design, implementation and supervision of rural development projects of a wide variety and financing of rural infrastructure. He authored the State of the Sector Report on Microfinance in India (2008 – 2012) sponsored by Access Development Services and published by Sage and is currently engaged in authoring the report for 2010. In addition, Mr. Srinivasan has contributed chapters to edited volumes for three other books on microfinance and authored articles on rural development and rural finance for journals, newspapers and magazines. He presently serves on the governing boards of three development organizations, a company and advisory boards of two knowledge organizations.

Board Member Emeritus

Howard Brady
Washington, USA

Howard, a CPA and auditor, is President and CEO of MFI Resources, a microfinance investment fund. He became involved with microfinance in 1994 after six years in public accounting, in which he focused on helping organizations become more efficient and effective. Howard has transferred this experience to his work in the microfinance sector where he’s an expert in identifying efficiencies in MFIs, including benchmarking performance, internal audit and financial projections. He has worked for Global Partnerships and for Unitus, including work on their due diligence team. Howard was a Founding Board Member of MFTransparency, serving on the board for the first six years of its existence, in the role of Treasurer.