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RESEAU DES CAISSES POPULAIRES DU BURKINA ********************************* Fédération des Caisses Populaires du Burkina

RESEAU DES CAISSES POPULAIRES DU BURKINA ********************************* Fédération des Caisses Populaires du Burkina (F.C.P.B.) Tél.: 50.30.48.41, Fax : 50.30.49.10 ; E-mail : fcpb@fasonet.bf; Adresse :01 BP. 5382 Ouagadougou 01. AFRACA 5 th MICROFINANCE FORUM. THEME :.

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RESEAU DES CAISSES POPULAIRES DU BURKINA ********************************* Fédération des Caisses Populaires du Burkina

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  1. RESEAU DES CAISSES POPULAIRES DU BURKINA ********************************* Fédération des Caisses Populaires du Burkina (F.C.P.B.) Tél.: 50.30.48.41, Fax : 50.30.49.10 ; E-mail : fcpb@fasonet.bf; Adresse :01 BP. 5382 Ouagadougou 01 AFRACA 5th MICROFINANCE FORUM THEME : CONTRIBUTION DES CAISSES POPULAIRES DANS L’ATTEINTE DES OBJECTIFS DU MILLENAIRE COTONOU, 3 – 4 July 2008

  2. RESEAU DES CAISSES POPULAIRES DU BURKINA ********************************* Fédération des Caisses Populaires du Burkina (F.C.P.B.) Tél.: 50.30.48.41, Fax : 50.30.49.10 ; E-mail : fcpb@fasonet.bf; Adresse :01 BP. 5382 Ouagadougou 01 THEME: HOW CAN MFI REGULATION AND SUPERVISION WITHIN THE WAEMU SPACE CONTRIBUTE TO THE PROMOTION OF MFIs? « CASE STUDY OF RCPB» THEME : CONTRIBUTION DES CAISSES POPULAIRES DANS L’ATTEINTE DES OBJECTIFS DU MILLENAIRE AVRIL 2008

  3. OUTLINE OF THE PRESENTATION • INTRODUCTION • REGLULATION AND SUPERVISION WITHIN THE WAEMU SPACE • CONTRIBUTION OF THE MECHANISM TO MFIs’ PROMOTION • REGULATION AND SUPERVISION IN RCPB • CONCLUSION

  4. INTRODUCTION

  5. The regulation and supervision mechanism is the result of the authorities’ will to: • Secure public savings; • Make available to the industry a global accounting and data collection framework; • Strengthen SFD coordination and monitoring; • Build the capacities of MFIs and their control structures; • Harmonize and improve management and control practices; • Harmonize the accounting framework (Authoritative Accounting); • Guarantee financial transparence; • Promote expertise and professionalism in the microfinance industry

  6. REGULATION AND SUPERVISION WITHIN THE WAEMU SPACE

  7. 1.REGULATION BACKGROUND • Before 1994, the SFD (Coopec and development projects initiatives) were governed by the same laws as those applicable to rural cooperatives and placed under the tutelage of the Ministry of Agriculture; • From late 93, the adoption of the Parmec law and its implementation in the member states in the form of national laws and framework conventions testify authorities’ will to better organize this sector; • April 2007, adoption of a new regulation applicable to SFDs in the WAEMU space

  8. 2. SUPERVISION BACKGROUND • First SFDs under the tutelage of the Ministry in charge of Agriculture with consequently poor surveillance of financial aspects • Tutelage transfer to the Ministry of Finance with the setting up of a unit in charge of supervision and control • Creation of a Microfinance Directorate within the Ministry of Finance

  9. REGULATION AND SUPERVISION CONTRIBUTION TO THE PROMOTION OF MFIs

  10. AT THE INSTITUTIONAL LEVEL • Opening to PLC, LTD, Associations • Accreditation for all types of MFI • Necessity to become member of the Professional Association • Extension of operations(Commitment by signature, electronic payment) • Tax relief for membership organizations • Restriction on the nationality of leaders

  11. AT SECURITY LEVEL AND STANDARD • Putting in place of a deposit guarantee system • Establishment of security fund for Networks • Minimum capitalization at 10% • Limitation of risk on only one member/client (10% to 1%)

  12. AT SECURITY LEVEL AND STANDARD (CONTINUED) • Feeding of the general Reserve (30%) • Inspection of large networks by the banking commission • Requirement to transmit infomation on a quarterly basis • Requirement of internal audit for large networks

  13. AT THE ACCOUNTING LEVEL • Harmonization of the accounting data collection framework • Recognition of transactions off balance sheet • Publication of financial statements

  14. REGULATION AND SUPERVISION IN RCPB

  15. GENERAL INFORMATION ON RCPB • Network of credit unions structured at 3 levels (Federation, Regional Unions and community cashes); • 101 Cashes and 48 customer service outlets; • 522 949 Members; • 42,4 billion of deposit; • 38,8 billion of loan outstanding.

  16. MECHANISM APPLICABLE TO RCPB • RCPB is governed by national and regional laws, and by OHADA treaty • External supervision mechanism • BCEAO/Banking Commission • Microfinance Division (SMS) • External Auditors/Statutory Auditors • Internal supervision mechanism • Top Inspection Directorate • Regional unions Technical Services • Entity surveillance committee • Internal control • Information System (quarterly transmission of data)

  17. CONCLUSION • Regulation and supervision contribute to the promotion of MFIs through: • Support to risk management; • MFIs’ financial base improvement; • Control function strengthening; • Governance improvement (transparence and reliability)

  18. MERCI POUR VOTRE ATTENTION

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