The Centre for Microfinance (CMF) is governed by a General Assembly comprised of 27 members, including SKBBL and MIFAN (51 % female and 49% male), and policy guided by the nine Directors of the Board, chaired by Ganesh Bahadur Thapa, former Governor of the Central Bank. The General Assembly is an apex body of the organization which meets annually. The Board of Directors directs the CMF management team on policy and guidelines for the effective operation of the organization and its programs and projects. The Board is elected every four years from among the shareholders of the organization. Gender equity, trust building, cooperation, learning, performance and inclusiveness are the key features of the governance of CMF.

The Chief Executive Officer (CEO) heads the management of the CMF and is responsible for participatory decision making in regards to the policies, objectives, and strategies of the organization. The Management Team develops new programs and proposals in consultation with CMF partners. Based on the CMF’s strategic plan and policy guidelines, the Program Department prioritizes issues and develops programs and projects accordingly. The central office acts as the principal administrative and coordinating body of the organization.

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The Centre for Microfinance (CMF) Nepal was established in June 2000 with a vision of "sustainable access to microfinance services for the poor". It is a private company that has declared a not-for-profit status in its Article of Association. CMF Nepal functions as a unique professional network of microfinance service providers including banks, cooperatives, NGOs, associations, specialists, and researchers. Its core team consists of professionals who are among the best in the field. CMF Nepal supports and strengthens MFIs through 6 thematic areas including networking, training, research, advisory services, policy advocacy and organizational development. CMF Nepal is member of Small Enterprise Education Project (SEEP), Banking with the Poor (BWTP) and South Asia Micro-entrepreneurs Network (SAMN).  

CMF Nepal works in partnership with a wide range of national and international partners to enhance the capability of the financial service providers to reach and serve the poor and the vulnerable. CMF Nepal is also actively involved to help the country's microfinance industry to overcome the challenges of multiple borrowing, loan over-indebtedness, client migration, and mission deviation. 

I would like to request all national and international organizations and professionals to extend their all possible cooperation and support to CMF's mission of poverty alleviation through microfinance and microfinance institutional strengthening.   

Ganesh Bahadur Thapa 
25 March 2016


Board of Directors Biographies
Ganesh Bahadur Thapa (chair)

Mr. Ganesh Bahadur Thapa holds a Masters Degrees in Political Science and Economics from Tribhuvan University Nepal. He is an expert in Governance and Microfinance with numerous years of national and international experience. Mr. Thapa worked at Nepal Rastra Bank (Nepal's central bank) for 35 years, and served as Governor of the bank from 1985 to 1990. During this period he gained experiences as a Special Officer to the Ministry for Commerce and Industries, General Manager at Nepal Industrial Development Corporation (NIDC), FAO Consultant Scheme for Agricultural Credit Development (SACRED). He has also held the titles of Investment Planner and Analyst at the UNDP/UNDO Project in Karakarya Indonesia, Vice Chairperson and Board of Trustees Member of the South Asia Network of Microfinance Initiatives (SANMFI) in Dhaka, Bangladesh, Microfinance Policy Adviser to the Government of Pakistan and the Pakistan Poverty Alleviation Fund on behalf of Asian Development Bank, Senior Consultant to the Banking with the Poor Program (Australia), Chairman of APRACA (Asian Pacific Regional Agricultural Credit Association), and as a Leader of IFAD/GTZ Project Review Mission of the Marginal and Small Farm Systems-Crop Intensification Project (MSFSCP), Bangladesh. Upon retiring from the Nepal Rastra Bank, Mr. Thapa has provided his services to several projects mainly based around the South East Asian region as a consultant and policy advisor.




Pitamber Prasad Acharya

Mr. Pitamber Prasad Acharya is a graduate in Commerce, Law and Regional Development and Planning within Nepal and abroad. He is a pioneer of poverty reduction initiatives at the grassroots level in Nepal. He has also served as Founder and Chairman of the DEPROSC Development Bank and Microfinance Association of Nepal (MIFAN), in addition to the Development Project Service Centre (DEPROSC Nepal). Mr. Acharya has served for more than 20 years at the Agricultural Development Bank of Nepal up to the capacity of Zonal Manager. He has a wide range of exposure and meaningful participation at national, regional and international level seminars, dialogues and conferences. He has led more than a dozen research projects and studies conducted for various donors and international agencies. Mr. Acharya conceived DEPROSC Nepal eighteen years ago with the intention of bringing marginalized groups, particularly impoverished women living in rural parts of Nepal, into the development mainstream to give rise to their livelihoods social development and self dignity.


Tulasi Prasad Uprety

Mr. Tulasi Prasad Uprety holds an MSC in Management from Manchester University, United Kindom, a Master of Arts in Economics from Tribhuvan University, Nepal, and a Master of Arts in Sociology from Gorakhpur University, India. Mr. Tulasi has participated in various training programs in management, banking, central banking, and microfinance in Nepal and abroad. Mr. Tulasi worked at Nepal Rastra Bank for more than 30 years and voluntarily retired as an Executive Director. Since then he has been actively involved as a freelance consultant to both local and international agencies in banking, finance, and development issues, particularly related to microfinance. He is one of the promoters of Janata Bank, Clean Energy Development Bank, Infrastructure Development Bank, Swastic Merchant Finance Company, Arun Vally Hydropower Company and Ridi Khola Hydropower Company. He is the Chairperson and Chief Executive Officer of the National Microfinance Bank, and Dynamic Fund Pvt. Ltd. He also teaches microfinance courses at Kathmandu University and management courses at the Management Development Center of the Management Association of Nepal (MAN). He is lifetime member of MAN, the Association of British Alumni in Nepal (ABAN), and Nepal Council of World Affairs (NCWA). He was a Board Member of Asia Pacific Rural and Agriculture Credit Association (APRACA) for about two years.



Mukunda Bahadur Bista

Mr. Mukunda Bahadur Bista holds a Masters Degree in Economics and has more than 18 years of experience in microfinance and community development programs with a focus in women's development, poverty reduction, and environmental and natural resource management. He had worked for a long time in Agricultural Development Bank Nepal and obtained vast experience in agricultural finance, mainly in loan analysis and security appraisal systems. He has served the Centre for Self-help Development (CSD) since 1992. Working in CSD, he has formulated various program proposals and has assisted in various program/projects besides microfinance. He serves as a board member of Swabalamban Laghubitta Bikas Bank in Janakpur. He is an expert of training in the Grameen Replication Microfinance System.



Saraswati Shrestha

Ms. Saraswati Shrestha holds a Masters Degree in Economics from the University of Hawaii/Columbia University in the the United States and Bachelor of Law from Tribhuvan University in Nepal. She is a founder and was the Executive Chairperson (1995-2008) of the Women Cooperatives Society Ltd. (WCS), a banking and microfinance institution.

She is also involved as a board member of the Centre for Self-help Development, a financial NGO. She also serves as the chairperson for the Senior Citizens Health Cooperative and a promoter for the Governing Board of International Network of Alternative Financial Institutions (INAFI) Nepal.

Ms. Shrestha has worked for 28 years with the Government of Nepal and various other organizations throughout her career. She was a Section Officer of the Research and Analysis Division under the Ministry of Finance; Section Officer at the Department of Electricity under the Ministry of Water Resources; Administrator (Under Secretary) of Tri-Chandra College under the Ministry of Education, Joint Secretary and Chief of Revenue Training Centre and Corporation Coordination Division under the Ministry of Finance, and Additional Secretary of the Ministry of Housing and Physical Planning.

She was named one of the Commendable Women of The Year by Shanti Bikash Abhiyan and Best Woman Manager of the Year by the Management Association of Nepal (MAN). She has been also decorated by Suprasidda Prabal Gorkha Dakshin Bahu IV and Trisakti Patta IV.

Furthermore, Ms. Shrestha has participated in various national and international trainings, seminars, and conferences related to microfinance and other financial matters. She also holds an expertise in article writing and has a wide knowledge in national and international issues.


Ambika Pradhanambika

Ms. Ambika Pradhan holds a Masters Degree in Economics from Tribhuvan University. She has served as the Vice-Chairperson and Principal Director of the Microfinance Programme in Manushi since 2002. She had previously worked at the Nepal Rastra Bank for 32 years from 1968 to 1999, working mainly in the Research Department. Ms. Pradhan had started her job as an officer and retired at Senior Officer level. She holds work experience as a General Manager of Lube Oil in 1985. Ms. Pradhan has participated in various trainings, seminars, and workshops abroad in America, Europe and South East Asia. She is fluent in Newari, Nepali, English, and Hindi.


Mani Kumar ArjyalMani

Mr. Mani Kumar Arjyal holds a Bachelors Degree from Tribhuvan University in Nepal. He started his career with Nepal’s first commercial bank, Nepal Bank Limited, where he served for 25 years. In order to further assist underprivileged groups, Mr. Arival started the Nepal Rural Development Society Centre (NRDSC) in 2000, and served as the Chief Execute Director from 2000 to 2006. In 2007, Mr. Arjyal opened the Nerude Laghubitta Bikas Bank Ltd. The organization has been a benchmark in the field of microfinance in the eastern region of Nepal. Presently he is the Chief Executive Officer of Nerude Laghubitta Bikas Bank Ltd. Mr. Arjyal is also a Board Member of the Nepal Microfinance Bankers Association (NMBA). He has a wide range of exposure and meaningful participation at the regional, national and international level seminars, dialogues, and conferences.


Ram Chandra JoshiRam

Mr. Ram Chandra Joshi holds a Masters in Business Administration from Tribhuvan University in Nepal. He previously worked as a Senior Administrative/Account Officer and Action Programme Officer for the Integrated Development Studies (IIDS) and for the Neighborhood Society Service Centre as Chief Programme Coordinator. Mr. Joshi has participated in several forums and seminars where he presented papers on microfinance. He currently serves as CEO for the Chhimek Laghubitta Bikas Bank Ltd.