Since its establishment, CMF Nepal has dedicated all of its efforts to strengthening microfinance institutions across the country. We make a concerted effort to tackle new challenges in the microfinance industry through partnership and industry-wide collaboration. For its part, CMF Nepal is expanding its engagement to promote social performance, client protection, financial inclusion, green finance, fair trade, financial literacy, enterprise development, value chain financing, service quality, product development and diversity, branchless banking, and mobile banking.
CMF plans to propagate new technology and human values in operations and relationships so as to enhance the image and performance of the whole microfinance industry. The problems of duplication and over-indebtedness of borrowers and coercive collection practices of lenders deserve to be remedied by raising awareness, increasing coordination, better information management, and self-regulation within the industry. New training manuals and training programs need to be developed and practiced to equip MFIs with the knowledge, skills, attitudes, and values demanded by the emerging challenges and opportunities of microfinance. The positive impact of microfinance on poverty reduction needs to be established on strong empirical footing beyond anecdotal evidence.
The need for developing an integrated database on financial, social and behavioral performance of MFIs for both national and global consumption is pronounced. CMF Nepal is determined to shoulder these valued responsibilities associated with our collective mission together with the goodwill and support from national and international partners, networks, professionals, donor community, and foundations.
We look forward to working together with all concerned in our collective mission of enhancing microfinance institutions and their services to reduce poverty through leveraging transformation at economic, social and attitudinal fronts.
Harihar Acharya, PhD