Hugh Sinclair is an economist and former investment banker. He has spent the last decade working in microfinance in Latin America, Asia and Africa. He has worked with various microfinance banks, peer-to-peer organizations, microfinance investment funds, rating agencies and investors, and currently works as a consultant. He is author of Confessions of a Microfinance Heretic: How Microlending Lost Its Way and Betrayed the Poor (Berrett-Koehler, San Francisco, July 2012)
Articles by this author
Wednesday, July 11, 2012
The Wolf Is Guarding the Sheep: Why Microfinance Needs Regulation Too
In the wake of the biggest financial sector collapses in nearly a century, calls for increased regulation are commonplace. And yet the microfinance sector remains almost entirely immune from any oversight. The US general public generously lend to poor people in developing countries via lending platforms and specialized microfinance funds in the belief that their money is being used to help. Evidence to date challenges this belief.