Financial inclusion among Myanmar’s rural poor supressed by regulatory barriers
Development Finance reports on the EMW 2016 session ‘Myanmar, the new Golden Land for microfinance?’
Myanmar's rural inhabitants are being left unbanked as weak regulatory infrastructure in the country forges a gap between microfinance firms and institutions' local capacity, according to speakers at European Microfinance Week, which took place in Luxembourg last week.
The conference on 16 and 17 November drew in microfinance institutions, non-governmental organisations (NGOs), development finance institutions (DFIs) and government representatives to explore the challenges in developing access to basic financial services for the world's underprivileged.
Paul Luchtenburg, programme specialist for inclusive finance at the United Nations Capital Development Fund (UNCDF), said Myanmar's underdeveloped financial infrastructure, compounded with its macro-economic instability and inflationary pressures, continues to hold back the country's poorest.
"Regulators are not enabling but rather, constraining financing outreach to rural areas," he said.
Read the full report here