Successful Roundtable of Regulatory Authorities at the 26th MFC Annual Conference in Cracow

The Microfinance Centre (MFC) is pleased to announce the successful conclusion of the Roundtable of Regulatory Authorities, held on May 14, 2024, during the 26th MFC Annual Conference Embracing Diversity for Inclusive Finance in Cracow, Poland. This event convened representatives from the national banks of Armenia, Georgia, Kyrgyzstan, Tajikistan, and Uzbekistan, alongside the delegates from the Asian Development Bank (ADB) and the International Finance Corporation (IFC).

The roundtable commenced with an official welcome by Archil Bakuradze, MFC Council Chairman and Chair of the Supervisory Board at JSC MFO Crystal (Georgia), who introduced the distinguished participants. Notable opening remarks were made by Andrew McCartney of the Asian Development Bank (ADB) and Pavel Shust of the International Finance Corporation (IFC).

Discussions at the roundtable focused on strategies for sustainable growth in the microfinance sector, with particular emphasis on financial stability and consumer protection. Contributions came from national regulators including the National Banks of Armenia, Georgia, the Kyrgyz Republic, Tajikistan and the Central Bank of Uzbekistan. Representatives from ADB and IFC shared their extensive experiences, offering valuable guidance on developing rebust regulatory frameworks.

The roundtable concluded with a collective commitment to ongoing knowledge sharing and policy  dialogue, aiming to cultivate a supportive regulatory environment for the microfinance sector across the region. A networking lunch followed, facilitating further dialogue and collaboration, with additional representatives from Bosnia and Herzegovina, Kosovo, and national microfinance associations.

This Roundtable of Regulatory Authorities exemplifies MFC’s dedication to advancing inclusive and sustainable financial practices and underscores the significance of also international cooperation in addressing the evolving needs of the microfinance industry.

See the images from the Annual Conference

About Microfinance Centre (MFC):  

The MFC is a social finance network that champions fairness, inclusion, equality, and responsible service. It unites over 130 organizations across 36 countries in Europe and Central Asia, collectively delivering responsible microfinance services to nearly 2,000,000 low-income clients. Together with our members – microfinance, financial cooperative systems, social finance banks, social investors, academic institutions, national and international support organizations and networks – we seek to make financial services work effectively for people, communities and the planet by embracing sustainability good practices and standards, sharing knowledge, advocacy and networking in the region of Europe and Central Asia.

END

Contact Information:

Joanna Sosnowska-Orynska, Communications Coordinator at MFC

Email: joanna.sosnowska@mfc.org.pl