Philippe Guichandut spoke at the Bank of France

©Philippe Lissac / Godong

From March 11 to 15, the Banque de France organized the seminar "Consumer Protection, Financial Inclusion and Education." The objective of this seminar was to highlight the missions carried out by a central bank in the areas of financial services consumer protection, financial inclusion, and financial education. These missions aim to improve consumer information, provide assistance in the event of difficulties, or prevent or resolve them. Generally carried out in accordance with laws and regulations specific to each country, these activities were compared with the approach adopted in this area by other central banks.

The topics covered were:

– Control of the commercial practices of banks and insurance companies,
– General presentation of the role of the Banque de France in the area of relations between individuals and the financial sphere and the legal protection provisions,
– The organization of relations between the banking sector and consumer organizations,
– Files of general interest managed by the Banque de France and concerning individuals,
– Public information and banking mediation in France,
– The treatment of household over-indebtedness,
– Financial inclusion and financial education.

Roundtable discussions were organized to allow for the exchange of information and experiences between participants, notably through short presentations on their national issues. Philippe Guichandut, Director of Inclusive Finance Development at the Grameen Crédit Agricole Foundation, was invited to speak and present the Foundation's work, before discussing best practices with the other guests.

AMK Microfinance Receives Truelift Leader Milestone

© Philippe Lissac

Truelift has recognized the pro-poor performance of AMK Microfinance Institution Plc, a partner of the Grameen Crédit Agricole Foundation in Cambodia, at the Leader Milestone. This brings to 33 the number of financial service providers recognized along the Truelift Pro-Poor Pathway and to seven the number recognized at the Leader Milestone, the most advanced of the four milestones. What all the recognized institutions have in common is their commitment to meeting the needs of people living in poverty. Their degree of adherence to the three pro-poor principles demonstrates how far these institutions have progressed toward managing to serve the poor.

AMK began as a Concern Worldwide program in the 1990s before becoming a full-fledged microfinance institution in 2004. The institution offers group (village bank) and individual loans, savings services, money transfers, health microinsurance, payment and payroll services, foreign exchange services, and international remittances. It employs more than 2,700 people in 150 offices and works with more than 3,700 independent agents across the country. AMK has more than 840,000 clients with a loan portfolio of more than $247 million and deposits of more than $146 million, making it one of the leading microfinance institutions in Cambodia.

For over 15 years, AMK has continued to grow by focusing on developing its financial products and services and investing in new technologies to meet customer demand. At the same time, AMK has remained committed to its social objectives, particularly poverty reduction, as evidenced by the results of the Truelift assessment conducted by M-CRIL in November 2018. By providing appropriate and sustainable microfinance services over the past 15 years, AMK has helped its clients and their families, especially those living in remote areas, achieve significant positive changes.

To develop rural economies, the EIB strengthens microfinance in Africa

© Didier Gentilhomme

On April 1st, from 9 a.m. to 11 a.m., the Grameen Crédit Agricole Foundation and the European Investment Bank (EIB) are organizing a conference in Paris on the theme of developing rural economies and strengthening microfinance in Africa through the EIB.

Jérôme Brunel, Secretary General of Crédit Agricole SA, Director of the Grameen Crédit Agricole Foundation, and Ambroise Fayolle, Vice-President of the EIB, will deliver the opening remarks. Around the table will be Eric Campos, General Delegate of the Foundation and CSR Director of Crédit Agricole SA; Soukeyna Ndiaye Bâ, Managing Director of the INAFI International Foundation and Director of the Foundation; and Mamadou Lamine Gueye, Managing Director of Caurie, a Senegalese microfinance institution supported by the Foundation. Jean-Marie Sander, President of the Grameen Crédit Agricole Foundation, will deliver the closing remarks.

Participants will discuss three themes: Is rural development in Africa an absolute necessity? Rural microfinance in Africa: what opportunities exist? Microfinance, gender, and climate change: are their destinies linked?

To participate, contact: carolina.herrera@credit-agricole-sa.fr

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Created in 2008, under the joint leadership of Crédit Agricole SA's management and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank, the Grameen Crédit Agricole SA Foundation is a multi-sector operator that contributes to the fight against poverty through financial inclusion and social impact entrepreneurship. As an investor, lender, technical assistance coordinator and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.