Featured Essay: INDONESIA

In this essay, Sumantoro Martowijoyo -- an Indonesian microfinance expert with over 30 years of education and experience in microfinance – looks at the past, present, and future of microfinance regulation and policy in Indonesia

Starting with a review of past successes and failures, Dr. Martowijoyo moves the reader into the present and the future. He criticizes the government's decision to discard local institutions in favor of modern institutions, and expresses concern over signs that subsidized lending practices may be returning in full force.

About the Essays: The Essays on Regulation and Supervision series seeks to complement the country profiles by providing additional insights and perspectives on the experiences of lawyers, microfinance institutions, regulators, donors, and other microfinance stakeholders regarding specific microfinance legal and regulatory environments. A complete list of essays is available here.