INAFI (International Network of Alternative Financial Institutions) is a global network of development organisations active in support of savings and credit programmes of member organisations in Asia, Africa, Latin America and Eastern Europe. INAFI believes in the alternative paradigm of promoting holistic development for poverty reduction through beyond microfinance programmes, using microfinance as a development instrument. INAFI – INDIA looks at microfmance as a means to larger end of development that is poverty reduction in all dimensions not just financial / economic aspects.
INAFI brings together the microfinance practitioners at three levels global, regional and local. The local denotes the country level networks being promoted now in the Asia region. INAFI -INDIA is the country chapter of INAFI network in India and incorporated as a Section 25 not-for-profit Company.
The two-fold objectives of INAFI – INDIA are :
INAFI – INDIA at present has a membership base of twelve with wider geographical representation. Network members are distinct from each other in terms of context, outreach, service delivery mechanisms and structure. Together the members have an outreach close to 6 lakhs clients.
Presently INAFI – INDIA members are :
Self- regulation has been chosen as a INAFI – INDIA method for regulating growth and development of microfinance programmes of the people institutions with order and quality. A framework of standards under three major indictors namely developmental, institutional, and financial have been evolved by the member organisations with a view to facilitate the people institutions promoted by them to practice the self-regulation.
Asset Building programme of the network seeks to work with member organizations with a view to recognise the utmost importance of navigating the microfinance to wards building up of the assets for the clients in a manner that provides livelihood security, hedge against risk and income security.
INAFI INDIA as a network tries to address the issue of high indebtedness of the poor owing to long exposure to usury. Banking on the experience of microfinance in effectively addressing this problem, INAFI – INDIA is endeavoring to promote and navigate microfinance with specific focus on this serious issue of poverty, in collaboration with mainstream financial institutions.
To strengthen and support the growth and development of the sector; benchmarking for better quality and standards; providing platform for sharing experiences and bringing new knowledge and innovations; enabling linkages with mainstream financial institutions and forging partnerships; building alliances with international Microfinance Networks and Global financial Institutions / Donor Agencies.
International Network of Alternative Financial Institutions – INDIA
(Incorporated as Section 25 not-for-profit Company of Companies Act, 1956)
25-A, Bharathi 5th Street, S.S. Colony, Madurai – 625 010; Tamilnadu
Tel: 91-452-2300490, Fax: 91-452-2602247
Email: [email protected]