World Bank's Center of Excellence on Cooperative Financial Institutions (CoE-CFI)

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Reforming the Legal Framework for Financial Cooperatives: Issues and lessons from Guatemala and El Salvador

March 20, 2019 | 12:15 PM | Washington DC 1850 I Street

Background

Cooperative Financial Institutions, CFIs, are in many countries important players providing financial services to lower income people. The present brownbag lunch focuses on the issues that are being discussed in the context of the ongoing processes to reform the legal frameworks for CFIs in Guatemala and El Salvador with support of the World Bank and of the FIRST trust fund.

 

About the Presenter

 

Jose Rutman, Consultant

José is an economist, with a Masters degree from the Centro de Estudios Macroeconómicos de la Argentina (CEMA). He has professional experience in more than 25 countries. Currently works as an independent international consultant, specialized in regulation and supervision of financial topics. From 1998 to 2010 has worked as Deputy General Manager at the Central Bank and at the Financial Entities Supervisory Agency of Argentina. He has performed short term consultancy tasks for International Financial Institutions and Supervisory Associations: World Bank, International Monetary Fund, CAPTAC-DR, IADB, CGAP, Toronto Centre, UNSGSA and ASBA.  On the microfinance and financial cooperative topics, José has been involved in the following projects: Strengthening of the legal and supervisory framework of financial cooperatives in Guatemala; NBFI sector in El Salvador (FSAP, workshop with relevant stakeholders on financial cooperatives) and Mexico (FSAP, document with diagnosis and recommendations, ICR BANSEFI); Risk based supervisory manual and training for the microfinance sector (CONAMI, Nicaragua); Diagnosis and recommendations on bank resolution and deposit insurance for the financial cooperative sector (FACCACH, Honduras); Member of the Basel Consulting Group Workstream on financial inclusion (CGAP, BCBS); Training programs to several countries on microfinance (Toronto Centre).

 

About the Discussant

 

Martin Stewart, Independent Finance Expert

Martin has 19 years’ board level experience as an executive, non-executive, advisor and regulator. Since 2018, Martin has been an advisor to governments and regulators on financial services regulation. Prior to that, Martin was from 2013 on a Director at the Bank of England, responsible for the supervision and regulation of all UK banks, building societies and credit unions. From 2013 – 18, Martin was also Chairman of ICURN (board of world regulators of financial mutuals). As the UK’s head regulator and in his chairmanship of ICURN, Martin:

•           Was a member of the leadership team that defined and implemented the UK’s post financial crisis banking regulatory regime,   

             establishing the Prudential Regulation Authority within Bank of England.

•           Headed the team that rebased the UK’s regulatory strategy, to create greater diversity of business models in the UK market.

•           Led the development and publication of Guiding Principles of Supervision, to define best practice for regulators of financial mutual

             across the globe.

 

 

About the Chair

 

Juan Buchenau, Senior Financial Sector Specialist, Global Agricultural Finance Team, FCI

Core member of the global agricultural finance team and of the CFI Community of Practice. Juan works on policy diagnostics and design for both, CFIs and agricultural finance. Formerly in charge of several World Bank programs to improve access to finance in Latin America and the Caribbean. Before joining World Bank, he was the Executive Vice President of an American microfinance institution serving immigrants and their families. Prior to that he was lead advisor of the German consulting firm IPC/Procredit, helping commercially oriented microfinance banks in Latin America, Africa and Eastern Europe expand their services for small farmers and MSMEs. For several years, he managed a program to support a multi-purpose small farmers’ cooperatives in Mexico. Juan has an MSc from University of Hohenheim (Germany).

In Person Registration: https://www.surveygizmo.com/s3/4819059/CFI-CoP-Launch-BBL


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