07 May

Credit Unions under ACCESS Uphold Financial Disciplines

  • Date : Tuesday May 07, 2013
  • Venue : Nepal

Credit Unions under ACCESS Uphold Financial Disciplines

Capital adequacy or ideal level institutional capital of at least 10% of the total assets is the main concern of the credit unions undergoing ACCESS accreditation in Bangladesh and Nepal as revealed in the separate review meetings one February 13- 14 and April 22-23 respectively. “Frankly, we have only realized theimportance of institutional capital after undergoing ACCESS,” according to Krishna Kumar, Manager of Samudayik SACCOS in Nepal. Over the years, we have maximized the dividends to our members without setting aside suffi cient amount to build our reserves, he added. Krishna said he does not consider this as a problem, but a situation they need to overcome because there is no other choice. Of the four countries known to be implementing ACCESS, Nepal ranks number in terms of the numbers of credit unions enrolled – 36 SACCOS. The federation – NEFSCUN sees its future of establishing the Stabilization Fund. On his presentation at the Stabilization Fund seminar attended by more than 100 credit union leaders, Vice-President Rishi Raj Ghimire said ACCESS can be used

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