Microfinance institutions introduce new billing system

An extraordinary general assembly of the Association of Micro-Finance Institutions in Rwanda (AMIR), on Friday recommended that its annual membership fee be based on the balance sheet of each member.Previously, the association set a flat figure, something that did not go down well with most members. The highest annual fee charged has since been Rwf 400,000. “We shall be considering the balance sheets of each of our members that will determine how much each micro finance institution would be charged,” Chairman of AMIR, Faustine Zihiga, disclosed.Among others, member contributions are expected to enable the association to carry out its duties that include advocacy, capacity building for members and conducting of research studies.“Becoming a member is not enough; we want involvement of members in activities that will promote MFI`s in the country,” Zihiga said.He revealed that the association has so far a membership of 67 micro finance institutions and called upon those that had not registered to do so.The extraordinary general assembly was called to seek lasting solutions to ensure active participation and ownership of operations among members.Speaking to The New Times, the Managing Director of Duterimbere Microfinance, Delphin Ngamije,expressed optimism the new system would work out and encourage participation of members.“I believe that members of the association have the will and capacity not only to pay the annual fee, but also get involved in the day-to-day operations based on the benefits expected from the association,” said Ngamije.

National

Microfinance institutions introduce new billing system