The corporate governance working group of the NMP brings together microfinance practitioners and corporate governance expert with wealth of experience to address the challenges of corporate governance. In recent times, a key issue affecting the growth of the microfinance banks is lack of strong corporate governance and it is considered as non negotiable for meaningful growth and economic development. The lack of good corporate governance practices within the sub-sector poses several challenges and the WG seeks to respond to these challenges by providing the operational knowledge and facts needed to facilitate and ensure an efficient implementation of good corporate governance practices throughout the sector.
Objectives of WG
- To identify key issues that are affecting the growth of the microfinance sub sector with respect to corporate governance and identify best practices to address them.
- Clarify and share knowledge on structure and composition of board, board independence, national code of corporate governance and strategies to kick against bad governance.
- To structure and extend knowledge on how MFBs can institutionalize policies, processes and procedures to strengthen their compliance mechanisms.