Al Tadamun Microfinance Foundation participated in a microfinance conference titled “Going beyond microcredit and shaping the future of microfinance in Egypt”, which took place at Fairmont Towers, Cairo from January 20 – 21, 2015. The conference was attended by 46 microfinance practitioners, government representatives and the banking sector. The aim of the conference was to understand the effect of the new microfinance law number 141 on the future of microfinance and  how the new technology could enhance microfinance and develop better relations with other key stakeholders through sessions conducted by different speakers in the industry.

In his opening speech, Mr. Sherif Samy, the chairman of Egyptian Financial Supervisory Authority, pointed out that the new law was created to establish new framework for microfinance industry in Egypt to enhance this vital sector. He also clarified that the law gives the flexibility to NGOs to transfer to licensed companies if they desired.

The conference also focused on  the future of the microfinance industry by presenting some of the initiatives towards industry improvement, sharing the experience of some  existing players in the market, offering  different products in the industry beyond microcredit such as micro-insurance, micro-leasing and micro-mortgage and showing the importance of using technology such as mobile banking to improve clients’ service.

As for Al Tadamun, it keenly sought to network with other MFIs to share experiences as well as distributed Al Tadamun’s 2013 Annual Report as a promotional tool.