Regulations of Microfinance Institutions in Ghana: A Case Study of First Allied Savings and Loans Limited
Loading...
Date
2008
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
Responding to the rapid growth of various types of microfinance institutions (MFIs) around the world and the gap in knowledge on whether and how these institutions should be regulated, a research work is being conducted to provide a framework for addressing regulatory issues which impact the operations and the institutional development of MFIs. Kumasi which was selected for this assessment has a wide range of informal, semi-formal and formal MFIs providing financial services to the poor. Subsequent in depth - work on issues in developing sustainable rural / microfinance in Kumasi presented an opportunity to deepen the assessment of how the legal and regulatory environment is important to sustainable microfinance. This study shows the Framework Regulating Microfinance Institutions with emphasis on First Allied Savings and Loans in Kumasi. The Regulations of MFI's which was discussed included Minimum Capital Requirement, Provisioning, Collateral, Capital Adequacy, Operations, Ownership and Corporate Governance, Enforcement among others. This Research is to ascertain whether FASLC has been able to work within the Framework Regulating MFI's in Ghana and also whether the Supervision Department has played their role in ensuring effective supervision of MFI's especially First Allied Savings and Loans Company.
Description
A Thesis submitted to the Department of Accounting and Finance-School of Business, Kwame Nkrumah University of Science and Technology, Kumasi in partial fulfilment of the requirements for the Degree of
Executive Master of Business Administration (EMBA) in Banking and Finance