On 25 and 26 July, Yemen Microfinance Network (YMN) organized a workshop on “Governance in Microfinance Institutions” for YMN Board of Directors. The workshop was conducted in cooperation with the GIZ and the Social Fund for Development (SFD).
The Yemen Microfinance Network, in collaboration with the Social Fund for Development (SFD), aims for having next year a year of governance in microfinance institutions and banks, said Ali Abu Taleb, YMN Managing Director. The concept of governance is an important concept that many institutions are unaware of, he added.
He illustrated that YMN started in 2013 with a training course in the governance for all the boards of directors of the MF institutions in cooperation with the International Finance Corporation and is currently being re-launched in cooperation with the SFD to be an integrated project to improve the level of governance in all MFIs.
He pointed out that the absence of governance is the cause of many problems and the slow pace of business and funding institutions is a result of inadequate clarity between the roles of executive management and boards of directors as well as governing boards in itself. Governance is a key element of continuity in the business sector.
On the other hand, the board member Mr. Abubakr Al-Saqqaf stressed that governance is essential for the sustainability of institutions and the workshop opened their eyes to sustainable work and that all institutions must implement the principles of the governance in order to make a qualitative leap and a significant shift in institutional work