Recently we had the special honor of officially welcoming eight new APRACA members consisting of (1) BRAC Bangladesh, (2) Microcredit Regulatory
The Pakistan Microfinance Network (PMN or ‘the Network’), the national association for retail players in the microfinance industry, was established as an informal group by industry practitioners in 1997, under the name Microfinance Group-Pakistan [MFG-P]. At the time, the group was focused on coordinating dialogue and lateral learning opportunities between members. Over time, with the increase in the nature and level of activities, and membership, the setup was registered with the Securities and Exchange Commission [SECP] in April 2001 under the Companies Act. It has since been known as the Pakistan Microfinance Network.
The Network works in three main areas:
- 1. Serve as an Information Hub for the industry: PMN has, over the years established itself as a knowledge centre for the sector and has emerged as the first stop for information, data and analysis on microfinance in Pakistan. Activities within this area include research and publications, holding events and roundtable discussions, data mining and business analytics, promoting benchmarks and international best practices on financial and social performance;
- 2. Promote an Enabling Environment: As an industry body, PMN strives to work with different stakeholders to create and promote a healthy and vibrant environment for microfinance in Pakistan. It does so through interaction with policy makers, in particular the Ministry of Finance and State Bank of Pakistan, creating linkages with both bilateral and multi-lateral donors; representing the sector at domestic and international forums; building strategic partnerships with local and international stakeholders; liaisons with private and public sector outfits to leverage expertise for various industry support infrastructure such as the Credit Bureau, Microfinance Fund Facility, and Consumer Protection Code & Grievance Redressal System; and building sector image and tackling negative perceptions through a professionally managed Communications and Public Relations strategy.
Capacity Building: PMN continues to play an active and central role in creating training, exposure and human resource development opportunities for the sector through iinternational and local trainings, and exposure visits; and building linkages with academic institutions.