Message from Executive Chairperson
CMF Nepal since its establishment in the year 2000 has been working in the promotion, growth and development of microfinance institutions in the country. The dimension of the microfinance has grown significantly in the last few years. The area such as promoting social performance, client protection, financial inclusion, financial literacy, clean green finance, branchless banking, mobile banking, digital financing, and value chain financing are drawing attention to support the clients in the microfinance industries. The collaborative approach and networking with the entire stakeholder are the norms of the day of CMF Nepal.
It is a known fact that microfinance is a tool which addresses the issues of poverty reduction. At the same time the growing number of microfinance institutions and the branches have also seen problems of over financing, multiple financing, under financing, and non financing to same extend also. The coverage so far achieved through formal MFIs, cooperatives and other FINGOs doing microfinance activities are very encouraging. The larger share of credit going in the agricultural sector through microfinance in Nepal is also satisfying as about 70 percent of population depends on it.
CMF Nepal always is committed to address the challenges in the microfinance industry through providing professional training programs, undertaking research work and doing strong advocacy to promote the core businesses. Bringing all the national and international stakeholders at a point through organizing microfinance summits in the country has been very effective. CMF Nepal in the last 9 years has successfully organized four microfinance summits.
Nepal now has entered in federal system with seven provinces and recently all the elections in three levels have been completed. The microfinance institutions have also need to work in the new environment with different contextual framework. CMF Nepal also needs to response in the new situation as well.
The experiences in the last 17 years functioning of CMF Nepal as a vibrant institution has also made us to modify timely and suitable changes in the organizational structure. Since the 17th AGM, which was held in December 2017 in Kathmandu, has passed and a 7 member Board of Directors has unanimously decided to create the position of the Executive Chairperson, with the purpose to make the institution more dynamic and effective to address the new challenges coming in the microfinance sector.
Poverty reduction is the main challenge of the country. MFIs are very important players to address the issue. Therefore it is the time to work all the stakeholders together mainly the government, the center bank, banks & financial institutions, development partners, cooperatives, FINGOs, various supporting national and international agencies, MFIs and all the beneficiaries. CMF Nepal is committed to work in addressing the issue of socio economic development of poor people of the country.
Jalan Kumar Sharma