Jakarta, Indonesia, April 8, 2015 — Indonesian Microfinance Forum was held by IFC, a member of the World Bank Group, Institute of Microfinance Indonesia (IMI), and Philippines-based CARD-MRI Development Institute (CMDI) to provide an avenue for stakeholders for microfinance training and education in preparation for ASEAN Economic Community (AEC) in December 2015.
The forum focuses on discussing programs and challenges for microfinance in Indonesia. This forum showcases Philippines microfinance experts to share their experience and knowledge. The participants discuss various challenges, opportunities, and impacts of ASEAN integration towards the actors and the microfinance industry in Indonesia.
There are currently around 50 million micro businesses in Indonesia and only around 60,000 official financial institutions that cater to their needs. Despite the wide range of business models that can be selected by financial institutions formed after the enactment of Law No.1 / 2013, the fact that the lack of human resource diminishes the opportunities cannot be dismissed out of hand.
“We need more professionals who are dedicated and eager to develop the financial industry in Indonesia. And for that we need organizations that enable individuals to learn, brainstorm and share experiences,” said Franky Suhenda, the founder and CEO of PT Dana Mandiri Sejahtera, a venture capital firm focusing on microfinance in Indonesia.
He added: “PT Dana Mandiri Sejahtera has decided to collaborate with the CARD MRI, the largest financial institution in Philippines, in the joint development and launch of the Institute of Microfinance Indonesia which will provide consulting services and certification programs for professionals within the field.” Franky adds that IMI will commence the first training and education program by the end of 2015.
The founder and managing director of the MRI CARD, Dr. Jaime Aristotle B. Alip is optimistic that microfinance is the most effective tool for eradicating poverty. “We’re happy to share our best microfinance practices that have been proven and tested for the last 30 years with the people of Indonesia,” he said.
Since 2008, IFC has cumulatively managed US$ 123 million for microfinance technical assistance services, spread over 190 projects in 62 countries. It aims to encourage the development of microfinance within financial inclusion programs.
Annastassiya Marina, IFC senior operation officer, said microfinance plays a pivotal role in building financial inclusion infrastructure, and is, therefore, crucial for economic development and poverty reduction. “Through our contribution to the microfinance education and training programs in Indonesia, the IFC is able to provide more support to the industry in Indonesia.”
About IFC
IFC is a member of the World Bank Group and the largest global development institution with the primary focus on the private sector. Working with private companies in more than 100 countries, IFC’s services have proven to reduce poverty and support shared prosperity. In 2014, IFC provided funding of more than 22 billion US dollars to improve living standards in developing countries and help overcome the development challenges. IFC collaborates with numerous partners including Swiss State Secretariat for Economic Affairs (SECO) which provides support for microfinance programs in Indonesia as one of its initiatives. For more information, visit www.ifc.org.
About Card MRI Development Institute (CMDI)
CARD-MRI Institute, Inc. (CMDI) is a renowned educational institution consisting of experienced microfinance practitioners as teaching staffs. The Institute provides training for staffs and members of CARD Mutually Reinforcing Institutions (CARD MRI) and other microfinance institutions who are interested in the industry’s innovative development methods as well as for microfinance practitioners who pursue further education in the field of applied microfinance.
All training and curriculum programs are developed and taught by CMDI teaching staff comprised of competent MRI CARD personnel, microfinance experts and practitioners in the field of development who are dedicated to eradicating poverty in Philippines.
About Dana Mandiri Sejahtera
Dana Mandiri Sejahtera (DMS) is a venture capital fund company with a focus on microfinance development in Indonesia. DMS serves not only as a microfinance institution but also to provide quality human resources servicing microfinance programs. DMS established Institute of Microfinance Indonesia in effort to develop Indonesia as the leading microfinance country in ASEAN. By partnering with CMDI and SAIDI (Southeast Asian Inter-study Development Institute), IMI gains increasing cooperation from ASEAN members in conjunction with the implementation of the ASEAN Economic Community.
