Savings Services for the Poor
* Written from the expert perspective of many different regions and institutional types on microfinance\ * Both a necessary primer on microsavings and an aid for anyone concerned with small and rural depositors\ In Savings Services for the Poor, Madeline Hirschland and other leaders in the microfinance field provide practical guidance for developing and managing sound savings operations for small and rural depositors. Drawing on experience from across the globe, this book addresses two types...
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In Savings Services for the Poor, Madeline Hirschland provides practical guidance for managing sounds savings operations for small and rural depositors. Drawing on the experience of leaders in the field from across the globe, this book addresses two types of institutions: Microfinance institutions that want to develop savings operations and mainstream banks that seek to go "down market." Forty case studies illustrate the key technical and management issues faced by banks, cooperatives, Microfinance institutions, and self-help group programs. Realistic tools are also provided for managers to assess an institution's capacity to mobilize deposits, analyze the market for savings, develop financial projections and cost savings products, manage liquidity and interest rate risk, review its internal controls, and develop an incentive scheme for staff dealing with savings mobilization. While the authors seek to reach managers, board members, and technical assistance providers of Microfinance institutions working on their savings operations, this book will be of great interest to anyone concerned with financial services for poor and rural markets.
Foreword - Mohammad YunusAcknowledgments Introduction Part One: Overview Chapter 1 Why do the Poor Need Savings Services? - What They Get and What They Might Like-Stuart RutherfordChapter 2 Prerequisites for Intermediating Savings-Katharine McKee Chapter 3 The Keys to Cost Recovery-David C. Richardson and Madeline HirschlandChapter 4 Developing or Strengthening Savings Operations: What's Involved-Mohammed Azim Hossain, Gerry Lab-oyan, Kathryn Larcombe and Khem Raj SapkotaChapter 5 Managing to go "Down-Market": Mainstream Financial Institutions and the Move Into Microsavings-Robert Peck Christen, N. Srinivasan, and Rodger Voorhies Part Two: Services: Meeting Demand While Covering Costs Chapter 6 Developing Products Based on Market Research-Graham A.N. WrightChapter 7 Savings Products -Madeline HirschlandChapter 8 Beyond Full-Service Branches: Other Delivery Options -Madeline HirschlandChapter 9 Pricing-Madeline Hirschland and John OwensChapter 10 Promotion: The Final Step in Marketing -Hayder Al-Bagdadi and David Cracknell Part Three: Systems: Managing Risk, Maximizing Productivity Chapter 11 Maintaining the Security of Client Funds-Monnie Markel BietyChapter 12 Liquidity Management-Monnie Markel BietyChapter 13 Managing Interest Rate Risk: Asset Liability Management- Monnie Markel BietyChapter 14 Product Costing-Brigit Helms and Lorna GraceChapter 15 Financial Incentive Schemes for Staff Engaged in Savings Mobilization-Martin Holtmann and Mattias Grammling About the Contributors Bibliography
\ From the Publisher"With its specific, practical guidance on the biggest challenges to managing small-balance savings mobilization, Hirschland's book provides a much-needed resource on the 'forgotten half' of microfinance. An essential textbook for anyone dealing with financial intermediation among low-income or rural populations— implementers, policy makers, and researchers alike."\ "I highly recommend this work as well-structured, authoritative, comprehensive, issue and solution oriented, and readable… To summarize: an education in microfinance is no longer complete without a look at this book."\ "This is not a book on theory of why-do-savings; it really is a book on the state-of-the-practice, a compilation of most everything we have learned about savings… I find this book to be a major contribution to microfinance, providing thoughtful and well-balanced information directed toward a sophisticated audience."\ "Provides a rare and welcome emphasis on savings and offers a complement to previous publications on microfinance products and services."\ \ \
