Information sharing and its use in MFIs interviewed Sample Clauses

Information sharing and its use in MFIs interviewed. Information sharing is based on formal and informal mechanisms. Informal mechanisms of information sharing include: (i) the sharing of lists of potential clients, for whom the receiving organization warns if they have a bad record in their file, and (ii) personal contacts between credit officers of regulated and unregulated MFIs. These personal contacts are known and accepted by the management staff of all interviewed organizations. The use of these informal mechanisms has increased between unregulated MFIs after the repayment crisis of 1998-99, which promoted a culture of generalized information sharing. Currently, informal mechanisms of information sharing are the only ones used in the two small NGOs interviewed. The formal mechanism of information sharing is the use of centralized databases maintained by a credit bureau. The evaluation of credit applicants Credit bureaus are used in the evaluation of credit applicants, but the importance given to the information they provide varies. In all interviewed MFIs, the evaluation of credit applicants is made using two criteria: the capacity to repay, and the willingness to repay. The capacity to repay is assessed by similar ways: socio-economic information about the client and its family (for agricultural loans) or business associates (for loans to small- and microenterprises), credit application forms which always include questions on the credit history, and visits to the enterprise of agricultural unit. The willingness to repay is by nature subjective, and its evaluation is one of the main tasks of the credit officer. Credit bureaus and informal information sharing mechanisms constitute ways to objectively evaluate applicants’ willingness to repay. The relative importance given to the two criteria of evaluation and the importance given to the credit bureau check to evaluate the willingness to repay vary in each MFI. Non-regulated MFIs can give only relative importance to the information obtained from credit bureaus. Two out of five NGOs interviewed allow their credit officers to continue the evaluation of applicants even when the information from the CB is unfavorable. They declared giving more importance to the evaluation of the applicant’s capacity to repay and using the credit bureau information more as an aid to the decision than as a requirement. They also emphasized the importance of personal contacts with credit applicants and clients over their strict economic and financial evaluation. On the other si...
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