15.3 Client-Focused Product Design in Practice 359 15.4 Microfinance Opportunities’ Listening to Clients Series 360 15.5 The Cost of Failure: Equity Bank’s Painful Lesson 361 15.6 IT Disaster Recovery and Business Continuity Management 370 15.7 Audits Performed by the Internal Audit Department 372 16.1 Glossary of Funding Terms 380 16.2 Institutional Investors in Microfinance 388 16.3 Commercial Bank Investment in Microfinance 389 16.4 Aggregating Data on MIVs 390 16.5 The Changing Character of Structured Funds 393 16.6 Funding Concentration 396 16.7 Subordinated Debt and Regulatory Capital 399 16.8 Bond Issuance in Financial Services for the Poor 400 16.9 Quantifying Foreign Exchange Risk for Currency Mismatch 401 16.10 Specialized Currency Funds 402 16.11 Microcredit Securitization 404 16.12 Access to Capital Markets 407 16.13 Responsible Investor Principles 408 16.14 Microfinance Institutional Rating versus Mainstream Credit Ratings 409 16.15 Ratings for MIVs and Funds 410 17.1 Regulatory Impact Assessment 418 17.2 Examples of Tiered Approaches 420 17.3 Certain Prudential Requirements 421 17.4 Adjustments to Prudential Requirements to Accommodate Microfinance Activities 423 17.5 Financially Inclusive Ecosystems 426 17.6 Making Insurance Markets Work for the Poor—Emerging Guidelines for Microinsurance Policy, Regulation, and Supervision 428 18.1 Lighting Africa 438 18.2 IRnet for Credit Unions 440 18.3 Regional or National Switches 441 18.4 Payment Integrators 442 18.5 The Evolution of Credit Reporting in Ecuador 446 18.6 Modern Credit Databases: Transforming Low-Income Financial Services in South Africa 447 18.7 India’s New Unique Identification System 449 18.8 Training Courses for Capacity Building 451 18.9 Making Microfinance Work: The ILO’s MFI Management Training and Trainer Accreditation Program 452
Contents
xi