FX-Denominated Offshore Debt Finance Agreements for Microfinance Institutions in Myanmar: Regulations and Procedures

  • November 22, 2017

  • Publications, guides and communication materials


The issuance of new Microfinance Institution (MFI) Directives on 29 August 2016 has opened the door for MFIs to attract debt finance and grow their organisations and credit portfolios, potentially very rapidly. Myanmar has the benefit of being home to more than a dozen international MFIs that have already been successful in their home markets of Japan, Cambodia, India, Bangladesh, Sri Lanka and some African countries. The expertise and systems these MFIs have developed and refined over years, combined with the large network of financially sound owners and financiers, allows Myanmar MFIs to skip years of learning and to upscale operations fast.

This brief aims to contribute to the success of MFIs in Myanmar by enabling international financial institutions (IFIs) that have the potential to support MFI growth to find their way in the new regulatory and procedural environment. Secondly, the brief aims to open a discussion between stakeholders in MFI debt finance to identify and advocate for ways to improve regulations and procedures for the benefit of all – regulators, supervisors, shareholders, IFIs, MFIs and their advocacy platform, the Myanmar Microfinance Association.

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