Microfinance in Pakistan
Final Report
Poverty and Social Impact Assessment:
Pakistan Microfinance Policy
May 2006
Oxford Policy Management
POVERTY AND SOCIAL IMPACT ASSESSMENT: PAKISTAN MICROFINANCE POLICY
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Disclaimer: The views reflected in this report do not necessarily reflect that of official DFID or UK Government policy.
POVERTY AND SOCIAL IMPACT ASSESSMENT: PAKISTAN MICROFINANCE POLICY
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TABLE OF CONTENTS
Abbreviations ………………………………………………………………………………………………….7
Executive Summary ................................................................... 10
Chapter 1:
Introduction .......................................................... 15
1.1
Purpose of this study............................................................ 15
1.2
Background ....................................................................... 15
1.3
Outline of this PSIA.............................................................. 17
Chapter 2:
Conceptual framework and international evidence............ 19
2.1
Definitions ........................................................................ 19
2.2
Poverty: credit, savings, insurance, financial services .................... 20
2.3
Markets for financial services ................................................. 27
Chapter 3:
The evolution of microfinance policy in Pakistan .............. 32
3.1
The context – the financial sector and poverty reduction ................ 32
3.2
Microfinance sector policy ..................................................... 33
3.3
Donors ............................................................................. 37
Chapter 4:
The evolution of microfinance in PAKISTAN, 2000–2005 ...... 39
4.1
Introduction ...................................................................... 39
4.2
The macroeconomic context................................................... 39
4.3
Financial sector and banking reforms
Poverty and Social Impact Assessment:
Pakistan Microfinance Policy
May 2006
Oxford Policy Management
POVERTY AND SOCIAL IMPACT ASSESSMENT: PAKISTAN MICROFINANCE POLICY
|2
Disclaimer: The views reflected in this report do not necessarily reflect that of official DFID or UK Government policy.
POVERTY AND SOCIAL IMPACT ASSESSMENT: PAKISTAN MICROFINANCE POLICY
|3
TABLE OF CONTENTS
Abbreviations ………………………………………………………………………………………………….7
Executive Summary ................................................................... 10
Chapter 1:
Introduction .......................................................... 15
1.1
Purpose of this study............................................................ 15
1.2
Background ....................................................................... 15
1.3
Outline of this PSIA.............................................................. 17
Chapter 2:
Conceptual framework and international evidence............ 19
2.1
Definitions ........................................................................ 19
2.2
Poverty: credit, savings, insurance, financial services .................... 20
2.3
Markets for financial services ................................................. 27
Chapter 3:
The evolution of microfinance policy in Pakistan .............. 32
3.1
The context – the financial sector and poverty reduction ................ 32
3.2
Microfinance sector policy ..................................................... 33
3.3
Donors ............................................................................. 37
Chapter 4:
The evolution of microfinance in PAKISTAN, 2000–2005 ...... 39
4.1
Introduction ...................................................................... 39
4.2
The macroeconomic context................................................... 39
4.3
Financial sector and banking reforms
References: of Microcredit, 2005................................................121 Annex D: Table 4.2 Growth rates in Pakistan, 1950–2005 (%) .......................