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27.01.2017 - University of Luxembourg and ADA launch new inclusive finance programme

Certificate in Law and Regulation of Inclusive Finance

 

The University of Luxembourg and Appui au Développement Autonome (ADA), in cooperation with the European Investment Bank (EIB), in January launched a new lifelong learning programme, the Certificate in Law and Regulation of Inclusive Finance, aimed at furthering expertise and exchange in this emerging field of financial law.

The Certificate forms part of the activities carried out in the framework of the ADA Chair in Financial Law (Inclusive Finance), a cooperation between the University of Luxembourg’s Faculty of Law, Economics and Finance and ADA, a non-governmental organisation dedicated to strengthening microfinance services for populations excluded from traditional banking channels. The programme was organised in association with the EIB and the EIB Institute and benefitted from the additional support of financial sector supervisory body CSSF and law firm Arendt & Medernach.

The first cohort of 22 students successfully completed the programme on Thursday, 26 January, after attending two weeks of courses on regulatory supervision, law and ethics, investment vehicles and banking law, taught by professors from the University of Luxembourg as well as invited lecturers from ADA and other microfinance specialists. They were awarded their certificates at a closing ceremony at the EIB on Thursday evening.

Participants included professionals working in the field of finance, for regulatory bodies and microfinance institutions as well as in academia. In addition to students living in Luxembourg and Belgium, participants travelled from Cameroon, Ghana, India, Indonesia, Kenya, Mongolia, Morocco, Nigeria, Pakistan, Palestine, Tanzania and Tunisia to join the programme. Full scholarships for students in need of financial assistance were financed, in part, through tuition paid by fee-paying students.

The two-week programme sees the University of Luxembourg take on a leading role in the study and teaching of law and regulation of inclusive finance. Prof. Dirk Zetzsche, holder of the ADA Chair in Financial Law (Inclusive Finance) and Course Director of the programme commented: “Law and regulation of inclusive finance is an emerging field. This programme enables exchange between academics and professionals as well as knowledge transfer from European jurisdictions to developing countries.”

Olivier Massart, Executive Director of ADA added: “Sharing microfinance knowledge and practices through the University of Luxembourg is an asset to build the next generation of microfinance managers. The financial inclusion sector plays an increasingly important role in the growth of African, Asian and Latin American regions and, given the challenges these countries face, leveraging financial expertise from Luxembourg for microfinance leaders’ education is key.”

Francisco de Paula Coelho, Dean of the EIB Institute, concluded: "Access to finance empowers small businesses and changes lives. We are proud to partner with the University of Luxembourg and ADA to advance expertise among professionals from around the world and develop inclusive finance further for those in need."

Following the successful completion of the first edition, the Certificate in Law and Regulation of Inclusive Finance is expected to continue as an annual two-week lifelong learning programme.