Archive for August, 2009

Auditing Banks for Policy Implementation

Posted in Finance Policy on August 21st, 2009 by Yam Ki – Be the first to comment

Do as I say, not as I do!  Just saw an article in Caijing citing a 21st Century Business Herald article about the National Audit Office auditing state banks to check if they have complied with the national stimulus policy and extend credit to infrastructure projects.  As I was reading it, I thought it would be great if they did the same with the microcredit companies, village banks, and other “microfinance” and poverty alleviation related lending. Did the MCCs and VBs really make loans targeted in rural and low income areas as intended by the policy or have they focused on wealthier regions and only for SMEs?  Yes, I am asking a rhetorical question.

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