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Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH

Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH

Promotion of the Microfinance Sector in the MENA region (MFMR)

Context

The microfinance market in the Middle East and North Africa (MENA) region has seen high growth rates in recent years, However, introducing specific microfinance laws and regulations as well as an efficient support structure would enable the sector to live up to its full potential. A strong legal and regulatory framework would create an environment in which microfinance institutions (MFIs) can reach out to the unbanked population, while safeguarding their interests. Moreover, specialized support services, such as training, sharing of information and representation, would contribute to the MFIs’ institutional and human capacity development, thereby also helping them scale up and expand their outreach.

Objective

The framework conditions for access to adequate financial services for the low-income population in the MENA region have improved.

Approach

The MFMR programme offers technical support at policy and regulatory level as well as for the service structure for MFIs in the region. The programme assists policy decision makers to develop and implement a national strategy on financial inclusion. It supports supervisory authorities in their efforts to strengthen the legal framework conditions and supervisory capacity for the microfinance sector. Furthermore, it enhances a regional dialogue, knowledge exchange and access to sector specific information. Finally, the initiative supports the Microfinance Network of Arab Countries, Sanabel, through organisational and strategic advice as well as the Development and Employment Fund in its institutional reform into an apex lending institution for the Jordanian MFIs.

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