Mr Eamon Scullin is a member of the World
Microfinance Forum Geneva (WMFG) Working Group on
Inclusive Finance in China. He be attending The
Second Working Group Meeting in Beijing.
WMFG aims to facilitate a continuous dialogue
between regulators, investors and providers of inclusive financial
services through thematic Working
Groups. In so doing, the WMFG acts as a catalyst for
the promotion of inclusive financial markets.
WMFG Working Group
Background
A large portion of China's population does not
have access to the financial services it needs. Most people use
informal financial services, which limits their possibilities and
leaves them vulnerable to abuse and fraud. Besides, the government
is concerned by how this situation constrains its ability to
implement economic and monetary policy and puts in jeopardy its
goal of social harmony. Since 2005 it has promoted microfinance as
a business in existing institutions and as the main product of a
set of new business models. The guidelines for China's new
microfinance business models include a possibility for both local
and foreign private investment.
Mr Scullin is also attending the 3rd Annual China
Microfinance Investor Conference in Beijing and will join
a panel discussion on Thursday 28th April on the topic
of Services for Microfinance Providers in
China.
