Overview
There have been many recent developments in the Middle East and North Africa (MENA) region, most notably the delinquency problems in Morocco stemming from unmanaged growth. New regulations have been recently enacted in Syria, Yemen, and Egypt. The advent of the first regulations in the region (Syria and Yemen) to allow for savings mobilization is hopeful: MFIs in the region are more reliant on debt and commercial financing than their global peers. In addition, mobile banking is starting to take hold. In Yemen, Morocco, Egypt, and Jordan, mobile network operators and banks are either ready or preparing themselves for product launches.
CGAP concentrates on facilitating the development of new institutions/channels offering financial services to the poor, including alternative models such as postal banks and branchless banking channels (Egypt, Yemen, Morocco). In addition, CGAP will work with policymakers to develop road maps for the transformation of NGOs in Morocco and Egypt to nonbank financial institutions or microfinance banks. Moreover, we will continue our work on graduation in Yemen and promote the model to other countries in the region. Finally, we will also continue our policy work in the region, with a special emphasis on facilitating savings mobilization.
Contact Regional Representative Mohammed Khaled.
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