by Hio Kyeng Lee - Africa, Latin America & Caribbean, Regulation -

KNOW A MICROFINANCE REGULATOR: Regulators of Microfinance in Ethiopia, Ghana, El Salvador and Jamaica

The following regulators are profiled in this brief: 

 
 
El Salvador – Financial System Superintendency (Superintendencia del Sistema Financiero) (SSF), located at: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Financial+System+Superintendency+%28Superintendencia+del+Sistema+Financiero%29+%28SSF%29
 
 
Ethiopia – National Bank of Ethiopia (NBE)
Overview:
National Bank of Ethiopia (NBE) is the regulatory and supervisory authority in Ethiopia with virtually every type of banking and financial institution under its purview.
Description:
In Ethiopia, NBE regulates commercial banks and microfinance institutions (MFIs), which are classified as non-bank financial institutions.  NBE establishes the licensing requirements for MFIs, promotes the participation of commercial banks in the microfinance industry and provides training for MFIs.  MFIs are subject to audits by Microfinance Supervision Department of NBE, including, on-site audits which are based upon CAMEL guidelines.
Organization’s Website:
Just the Facts:
Year founded: 1963
Chief officer: Ato Teklewold Atnafu
Basis for legal authority: Licensing and Supervision of the Business of Microfinancing Institutions, Proclamation No.40/1996; Monetary and Banking Proclamation No.83/1994
Number of Licensing Applications:
Number of Approved Licenses:
Number of Loans Under Supervision:
Number of Savings Under Supervision:
Number of MFI Branches:
Contact Information:

Ethiopia
Email: nbe.edpc@ethionet.et
Tel: +251 11 551 7438
Fax: +251 11 551 4588
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Additional Resources:
Latest News & Publications:
Link to MicroCapital Universe Wiki Page:
 
Ghana – Bank of Ghana (BOG)
Overview:
The Bank of Ghana (BOG) is the nation’s central bank.  The Bank of Ghana has regulatory and supervisory authority in Ghana with virtually every type of banking and financial institution under its purview.
Description:
In Ghana, the Bank of Ghana regulates a broad array of financial institutions, including rural and community banks, savings and loan companies and credit unions/cooperatives. The Bank of Ghana conducts annual on-site audits of these institutions.  Non-profit organizations are not regulated by any government agencies. 
Organization’s Website:
Just the Facts:
Year founded: 1957
Chief officer: K. B. Amissah-Arthur
Basis for legal authority: Banking Act of 2004; Non-banking Law of 1993; Cooperative Decree of 1968
Number of Licensing Applications:
Number of Approved Licenses:
Number of Loans Under Supervision:
Number of Savings Under Supervision:
Number of MFI Branches:
Contact Information:

Bank of Ghana
One Thorpe Road
P.O. Box GP 2674
Accra, Ghana
Email: bogsecretary@bog.gov.gh
Tel: +233 666 174 6
Fax: +233 662 996
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Additional Resources:
Latest News & Publications:
Link to MicroCapital Universe Wiki Page:
 
El Salvador – Financial System Superintendency (Superintendencia del Sistema Financiero) (SSF)
Overview:
Financial System Superintendency (Superintendencia del Sistema Financiero) (SSF) is the nation’s central bank.  SSF has regulatory and supervisory authority in El Salvador with virtually every type of banking and financial institution under its purview.
Description:
SSF regulates a broad array of financial institutions, including traditional banks, non-bank financial institutions known as “reciprocal guarantee associations,” and “savings and credit companies.”  SSF conducts annual on-site and off-site audits of these institutions.  Non-profit organizations are regulated by the Department of Interior (Ministerio del Interior), rather than the SSF. 
Organization’s Website:
Just the Facts:
Year founded: 1934
Chief officer: Victor Ramirez Antonio Najarro, Superintendent
Basis for legal authority: Banking Act, Article 2
Number of Licensing Applications:
Number of Approved Licenses:
Number of Loans Under Supervision:
Number of Savings Under Supervision:
Number of MFI Branches:
Contact Information:

Superintendencia del Sistema Financiero
Avenida Norte No. 240, PO Box 2942
San Salvador, El Salvador
Email: webmaster@ssf.gob.sv
Tel: +503 2281 2444
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Additional Resources:
Latest News & Publications:
Link to MicroCapital Universe Wiki Page:
 
Jamaica – Bank of Jamaica
Overview:
The Bank of Jamaica is the nation’s central banking authority. The Bank has regulatory and supervisory authority in Jamaica with virtually every type of banking and financial institution under its purview. Recently, the Bank has embarked on a program for financial sector reform, which is aimed at strenghening intermediation and the private sector.
Description:
In Jamaica, the Bank regulates a broad array of financial institutions, including commercial banks and non-bank financial institutions, including, “building societies,” merchant banks and “friendly societies.” Non-profit organizations are regulated by the Ministry of Industry, Investment and Commerce, rather than the Bank of Jamaica.
Organization’s Website:
Just the Facts:
Year founded: 1961
Chief officer: Brian Wynter, Governor
Basis for legal authority: Banking Act, as amended 2004; Building and Societies Act; Friendly Societies Act
Number of Licensing Applications:
Number of Approved Licenses:
Number of Loans Under Supervision:
Number of Savings Under Supervision:
Number of MFI Branches:
Contact Information:

Bank of Jamaica
Nethersole Place
P.O. Box 621
Kingston, Jamaica
Email: info@boj.gov.jm
Tel: +876 922 0750
Fax: +876 922 0854
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Additional Resources:
Latest News & Publications:
Link to MicroCapital Universe Wiki Page:

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