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MMFA and ThitsaWorks Sign MOU to Enhance the Growth and Sustainability of Myanmar Microfinance Industry


Yangon, Myanmar- The Myanmar Microfinance Association (MMFA) and ThitsaWorks signed a Memorandum of Understanding (MOU) to establish a framework for cooperation regarding the provision and utilization of MCIX reports aimed at enhancing understanding and insight into the microfinance sector's dynamics, challenges, and opportunities. In this regard, ThitsaWorks will provide the MMFA with a “Regional MFI Industry Report” on a quarterly basis to benefit the microfinance industry.


The regional MFI Industry Report aims to serve as a valuable resource for stakeholders, policymakers, and industry players, providing the insights needed to make informed decisions and implement effective strategies. This will support the growth and sustainability of microfinance initiatives.


This collaborative effort aims to advance the microfinance industry, with a focus on promoting overall growth and sustainability.


Representatives from the Myanmar Microfinance Association (MMFA) and ThitsaWorks sign a Memorandum of Understanding (MOU)


"On behalf of the Myanmar Microfinance Association, I am truly excited about the potential this collaboration holds and am confident that our joint efforts will yield significant benefits for the stakeholders, policymakers, and industry players to implement effective strategies for the sustainability of the Myanmar Microfinance Sector,” said Cin Khan Lian, Chairman, Myanmar Microfinance Association (MMFA).


ThitsaWorks is proud and honored for this significant endeavor. "This partnership marks a pivotal step forward in our mission to drive financial inclusion and sustainability in Myanmar's microfinance sector. By providing comprehensive and insightful MFI Industry Reports, we aim to empower stakeholders with the knowledge they need to make informed decisions and implement effective strategies," said Nyi Nyein Aye, CEO of ThitsaWorks.


About MMFA: The Myanmar Microfinance Association (MMFA) is the national association gathering microfinance practitioners and other relevant stakeholders working to improve access to appropriate and affordable financial services for the poor and unbanked people in Myanmar. MMFA aims to promote transparency, sustainability, and quality of microfinance services by offering training opportunities and other relevant services to its members. MMFA contributes to enhancing sector coordination by providing a platform to share information and best practices and acts as the representative of microfinance practitioners before donors and investors as well as regulators and supervisors contributing to a conducive legal and regulatory environment.

To Learn more about MMFA, visit https://www.myanmarmfa.com/en


About ThitsaWorks: ThitsaWorks is dedicated to driving financial equity and inclusion for the unbanked and underbanked in developing economies. They focus on digital transformation in areas such as payment, credit analytics, core banking systems, and embedded finance, aiming to enhance performance, expand client reach, and improve operational efficiency. ThitsaWorks is passionate about using data and open-source technologies to address complex business and social challenges.

To learn more about ThitsaWorks, please visit: https://www.thitsaworks.com/


For more information about Myanmar Microfinance Credit Information Exchange (MCIX), visit Website: https://www.mcixportal.com/


For more information about this project, please contact info@thitsaworks.com


 



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