Honorable Mentions
In 2008, XacBank had the privilege of co-hosting the 11th Annual Conference of Microfinance Institutions, under the patronage of the President of Mongolia, where MFC (Microfinance Centre for Central and Eastern Europe and the New Independent States) held its first ever conference in Central Asia. The microfinance industry is maturing, and the conference addressed the changes taking place, with investors arriving on the scene in force, and the need for traditional MFI models to upgrade with new technology and business practice. Microfinance generally refers to loans, savings, payments, and insurance services targeted at low-income clients.
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“A life spent in making mistakes is not only more honorable but more useful than a life spent doing nothing.”
—George Bernard Shaw (1856–1950)