The Pakistan Microfinance Network (PMN) in collaboration with Citi launched a three-day workshop on Risk Management (RM) aimed at building the Microfinance sector's capacity to manage the various risks faced by their institutions.
There is also a special focus on managing liquidity risks in disaster situations as the risk management workshop has been funded by Citi as part of the Flood Initiative to support microfinance sector in Pakistan.
The workshop was opened by Hashim Jawan Bakht, Citi Pakistan's Vice President and Corporate Bank Head for the North Region. He said that Citi's long-standing relationship with PMN, which began in November 2007 with the three-year Citi Network Strengthening Programme. With Citi's support PMN has been able to set up industry infrastructure for knowledge management and information sharing through its two online products.
PMN has also established a credit bureau, which will help improve information symmetries at the client level. Citi's Country Officer, Arif Usmani said, "Our partnership with PMN has played a vital role in strengthening the capacity building of the Microfinance (MF) sector in Pakistan.
As we celebrate our 50th year in the country this year, we are proud to announce a new partnership based on a $65,000 Citi Foundation grant to PMN for conducting the first national study on the social impact of MF in Pakistan.'
The workshop, conducted by the International Finance Corporation (IFC), is designed to support Microfinance Practitioners (MFPs) in a self assessment of the status of risk management as well as to implement organisational improvements. -PR