Group to undertake microfinance course

A GROUP of 23 from microfinance institutions and savings and loans societies will undertake an online microfinance digital course for microfinance professionals.
The course has been put together by the Centre for Excellence in Financial Inclusion (Cefi) and the Institute of Banking and Business Management.
The course is to help those who want to be successful in a dynamic environment, acquire new skills and build competence to meet the needs of customers.
Institute dean Dr Sweta Sud said the materials would cover microfinance subjects.
In addition to computer studies, students can also use their mobile phones.
Cefi executive director Saliya Ranasinghe said the objective was to leverage new skills in microfinance and technology with skilled human resources.
“It refers to the provision of a whole range of financial services to lower-income people, especially the poor, who can use the funding to finance their businesses, acquire household assets, improve consumption, and invest in health and education and fund emergencies and social obligations,” Ranasinghe told participants.
Bank of PNG assistant governor Ellison Pidik said the success of a financial institution lay in leveraging technology with skilled human resources.
“This is a new paradigm of banking education in the country and is an important milestone in microfinance industry,” she said.
“The microfinance industry commenced as an infant industry and has now expanded to serve over half a million people.”