Regulation is a major topic in developed financial markets and key to the development of supportive environments for microfinance in developing countries. Please join the FWA for a discussion of how regulation promotes or hinders microfinance in the BRIC countries. The regulatory environment can have a significant impact on how microfinance institutions operate and how they provide a range of financial services to those who have limited or no access. We will hear from leading microfinance experts on what has worked to support the development of microfinance and if there are lessons to be shared or learned, especially given the recent crises in India and the prospects for tremendous growth in China. We will learn why microfinance has been more challenging in Russia and less prevalent in Brazil. Can microfinance succeed in these large critical markets?

Topics for Discussion

• A brief overview of the individual regulatory environments for microfinance in Brazil, Russia, India and China
• Has the regulatory environment in each of these countries helped or hindered the growth of microfinance and the impact it has had in the local communities?
• What will be required of the regulatory organizations and the microfinance institutions going forward to ensure the success and proliferation of microfinance, with its many benefits, long into the future? What are the major challenges today with the regulatory regimes?