NATIONAL ASSOCIATION OF MICROFINANCE BANKS
The National Association of Microfinance Banks was inaugurated in Abuja by the Central Bank of Nigeria (CBN) in April, 2009 thus harmonising into a body the hitherto two parallel organization of Microfinance banks Association in Nigeria. The Lagos State Chapter of the harmonised National Association of Microfinance banks was inaugurated in June, 2010
The aims and objectives of the Association as now rephrased and rearranged are hereunder reflected THUS;
1) To stimulate innovative and sustainable microfinance best practices that guarantee wealth creation to the economically active poor.
2) To provide the requisite platform for microfinance practitioners to influence policy direction of government and ensure strong and effective representation of issues affecting the effective operations of the microfinance banking sub-sector of the economy.
3) To assist in capacity building of microfinance operators by periodic in-house trainings, and seminars and researches for the promotion and enhancement of microfinance operations.
4) To identify and encourage programs that will positively impact on the operations of members by collaborating with organizations and bodies within and outside the country.
5) To carry out relevant research and development in the field of microfinance operations for the benefit of its members.
6) To ensure effective collaboration among members and with other organisations for the benefit of all Microfinance Banking Stakeholders.
7) To monitor and enforce transparency and professionalism in the operations of members.
8) To be an organ for the creation of effective network for information dissemination among members.
9) To encourage the establishment of credit bureau to assist practitioners in sharing information.
10) To create a data bank to serve the varying needs of the members.
11) To promote cooperation among member banks at all levels.
12) To act as a liaison with members to create visibility on the global microfinance network.
13) To encourage performance reporting standards through the rendering of prompt, accurate returns and the creation of effective performance standards to guide operators.
14) To promote transparency and professionalism among members for benchmarking purposes.
15) To promote the operations of rating agencies for microfinance banks.
16) To protect and checkmate abuse of customers of Microfinance Banks through the development of appropriate codes of ethics.
17) To serve as a mediator between customers and members and act as mediator on issues affecting the interests of the member banks and stakeholders.
18) To provide a forum for members to deliberate on matters affecting their economic activities within their catchment areas.
19) To encourage efficient Banking Service amongst members.
20) To assist the Central Bank of Nigeria or any organ of Government charged with any responsibility over Microfinance Banks to organize periodic in-house training programmes, seminars and research activities for the promotion and upliftment of the standard of the banks.
21) To ensure that the directives and policies of the regulatory bodies are complied with.
22) To promote the image of the banks within the country through the promotion of rural development efforts and activities under the supervisory purview of the Central Bank of Nigeria and other agencies.
23) To articulate and present the views of members on issues affecting them to the Governments of Nigeria, Central Bank of Nigeria or any other agency whose mandate extends to the affairs of the banks.
24) To assist the Central Bank of Nigeria and any other agency that may be mandated from time to time to oversee the affairs of the banks, in monitoring the operations of the Microfinance Banks, through inter alia effective and efficient self-regulatory paradigm.
25) To encourage or assist newly established Banks to make effective take off through induction courses or seminars for their staff.
26) To act in the position of an agent of Central Bank of Nigeria or the agencies in the sensitizing the banks to ensure the necessity and due understanding and compliance with operational policies and guidelines.
To stimulate innovative and sustainable microfinance best practices that guarantee wealth creation to the economically active poor.
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