Spinning off for sustainable microfinance : Save the Children Federation into JWDS, Al-Majmoua, and FATEN
Dhumale, Rahul | Sapcanin, Amela | Brandsma, Judith
The only known spin-offs in the Middle East and North Africa's microfinance industry are Save the Children's microcredit programs in Jordan, Lebanon, and the West Bank and Gaza. Spinning off the Jordanian Women's Development Society (JWDS), Al-Majmoua, and Palestine for Credit and Development (FATEN) was complicated and difficult. But these experiences brought to light many of the issues inherent to such program restructuring--issues similar to those typically found in a corporate context. These include marketing considerations, and the legal, financial, and programmatic futures of the institutions, especially as they relate to their prospects for growth and sustainability. Added to this were numerous intangible factors and positive externalities brought about by spinning off, such as the building of local capacity or the regional microfinance industry. The experiences of Save the Children and JWDS, Al-Majmoua, and FATEN offer important lessons for organizations that are considering spinning off their microfinancne operations. Regulatory and legal issues and institutional governance structures must be carefully considered when building a new institution, because they can profoundly affect an institution's ability to achieve full sustainability.
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