Microfinance plays a central role in the development of poor populations all over the world. By providing financial services to those who did not have access before, microfinance facilitates entrepreneurship and economic development in general. The sector has grown rapidly, thereby transforming lives in virtually all regions of the world in the past decades.
However, with the growth of the sector, concern over rights of microfinance clients have risen. Client protection has been recognized as an issue that should be addressed by the sector and its regulators, to ensure that microfinance can keep growing in a way that benefits clients.
Both NpM, Platform for Inclusive Finance (NpM) and EY subscribe to the responsible growth of the microfinance sector. NpM wants to facilitate its members in contributing to this goal. For EY, supporting the microfinance sector is a way to give meaning to our commitment to building a better working world.