MFIs and FINGOs

Rajesh Sharma

Now, the policy of converting Financial Intermediary NGOs (FINGOs) into "D" class MFIs has been formalized. There is good news for MFIs as their expansion has been encouraged in the policy, but also when the FINGOs (31 in February 2014, http://www.financialnepal.com/news/print_it/1949) convert themselves into "D" class MFIs, their number will be increased suddenly that will create pressure on the existing ones.

Hence, we should have full picture before reaching to any conclusion.

Yes, there is one good opportunity. Some among us could convert ourselves as promoter of a MFI by contacting and investing in a running FINGO. They do not have paid up capital and need promoters. Being a director there is easy as most of these FINGO leaders are social entrepreneurs, not investors. They need capital and also risk taking investors. It is easy to get license and also access. Friends, some of us could explore!
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