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Clients are vulnerable and fragile

Published on December 7, 2010

The microfinance industry needs more transparency so that consumers, investors and donors know what they each expect, including the risks and the unintended consequences. There are a number of initiatives in this line. MF<i>Transparency</i> is an example.

Click here to read the Financial Times article

 

 

Sir, Regarding the article “Small loan, big snag” (Analysis, December 2): I want to comment that the microfinance industry needs more transparency. There are now many players, many models, many motives and – as you say – everyone has an opinion. My own view is that we need greater transparency so that consumers, investors and donors know what they each expect, including the risks and the unintended consequences.

There are a number of initiatives in this line: MFtransparency.org and the Smart campaign are examples.

I believe strongly that client training is vital, and non-government organisation – rather than commercial – models are likely to provide more (and more suitable) training to MF clients.

Remember, such clients are much more vulnerable and fragile than your average banking customer.

Tom Sanderson,

UK Director,

Five Talents registered charity,

Croydon, Surrey, UK

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