Master of Microfinance and Development (MMFD)

Towards providing knowledge, enhancing

operational skills and empowering graduates

to bring excellence to the microfinance

practice

Introduction

The Master of Microfinance and Development (MMFD) is an initiative that has stemmed from the overall goal, vision and mission of Ahfad University for Women (AUW) of enhancing the socio-economic development of the community through the provision of quality education at the post graduate level.

In a country where poverty is a highly prevalent phenomenon that stands as a major obstacle to development efforts, poverty alleviation strategies and techniques become a priority for all social stakeholders including educational institutions.  Within this perspective AUW took the initiative and became the first university to integrate microfinance concepts in its curriculum and activities, and offers the master degree in microfinance and development (MMFD). This initiative also came in response to the demand of the labor market for well equipped, qualified and knowledgeable cadres in the microfinance area.   It coincides with AUW strategy of equipping graduates to become capable of working as professionals and change agents for the enhancement of growth and development of the community in urban and rural areas in Sudan.

The program was launched in July 2009 in collaboration with the Microfinance Unit in the Central Bank of Sudan (CBS), whose vision and efforts to eradicate poverty and steer up development in Sudan, conjure with those of AUW. The CBS has offered acknowledgeable technical and financial support to the various aspects of the MMFD. This is undoubtedly, one of the strength points of the program and its sustainability.

Vision and Mission

Vision:

The vision of the MMFD program is to produce qualified and competitive female professionals in the field of microfinance capable of satisfying the needs of the development of the community, by supplying the microfinance industry, the microfinance institutions (MFIs), and the development agencies, at the national level, with excellence in performance according to international standards.

Mission:

The mission of the MMFD program is to provide students with advanced, timely and appropriate knowledge in microfinance through a well-structured curriculum that fosters effective learning. The program emphasizes the use of teaching methodologies, analytical tools and techniques that are essential for enhancing the capacity of graduates in both the theoretical and the practical dimensions, necessary for the microfinance industry in the country.

Objectives of the Program

The program aims at:

- Providing comprehensive knowledge in microfinance from developmental and operational perspectives.

- Supplying students with in-depth understanding of the potentials of microfinance and entrepreneurship in accelerating community development.

- Exposing students to real practices and experiences in microfinance locally and internationally.

- Providing students with the management skills of financial intermediation and microfinance institutions.

- Enhancing the students’ self-confidence and ability to lead within the microfinance sector.

Targeted Groups

The program targets the following categories:

- Individuals who are engaged in the management of development projects.

- Affiliates of local and international NGOs, and development organizations.

Interested in upgrading their skills and competencies in the microfinance field.

- Microfinance administrators at banks, microfinance intermediaries and informal financial institutions.

- People who are seeking to develop their entrepreneurial skills and capacities.

Criteria of the MMFD Program

1. The program accepts applicants from all disciplines, preferably, business administration.

2.  The Medium of instruction is English.

3. Classes are in the afternoon.

4. The duration of the program is three semesters (each semester contains five courses).

Requirements for Admission to the Program

Applicants should have:

-  B.Sc. degree with minimum grade GOOD, preferably in one of the following areas: Economics, Agricultural Economics, Business, Management, Accountancy, Development Finance, Public Administration, Development Studies, Statistics and Management Information Systems.

OR

-  B.Sc. degree with a PASS grade and a working experience of 3-5 years in

microfinance or in development projects with local NGOs, and bankers.

Program Curriculum

The curriculum is designed to cover 15 courses (a total of 45 credit hours; 3 credit hours per course) to be offered in three semesters.  The courses are as follows:

Course structure

Semester One

No.	Code	Course Title	Lecture	Tutorial	Total Cr hrs
1.	MF601	Approches to Microfinance	2	1	3
2.	MF602	Basic Statistics for Empirical Research	2	1	3
3.	MF603	Business Economics	2	1	3
4.	MF604	Financial Institutions and Intermediaries	2	1	3
5.	MF605	Microfinance and Development	2	1	3
TOTAL		Five Courses	10	5	15cr hrs

Semester Two

No.	Code	Course Title	Lecture	Tutorial	Total Cr hrs
1.	MF606	Accounting for Micro finance	2	1	3
2.	MF607	Managerial Aspects for  Micro finance	2	1	3
3.	MF608	Micro-small Enterprises and Microfinance	2	1	3
4.	MF609	Regulations and Supervision of Micro finance Institutions	2	1	3
5.	MF610	Urban and Rural Micro finance	2	1	3
TOTAL		Five Courses	10	5	15 cr hrs

Semester Three

No	Code	Course Title	Lecture	Tutorial	Total Cr hrs
1.	MF611	International  Experiences in Micro finance	2	1	3
2.	MF612	Managing, Monitoring and Evaluation of MFIs	2	1	3
3.	MF613	Marketing Management for Micro finance	2	1	3
4.	MF614	MIS  for  Micro finance	2	1	3
5.	MF615	Special Topics in Micro finance	2	1	3
TOTAL		Five Courses	15	5	15  Cr hrs

- The teaching methods include; lectures, seminars, field work, and internship in microfinance institutions (such as NGOs, international agencies, banks…etc).

- Case study analysis is also used to enable the students to become more exposed to documented experiences to develop their analytical and decision-making skills.

Opportunities and future prospects

The MMFD offers its graduates a golden opportunity to seek employment in the microfinance industry which is booming rapidly, and where big demand is developing within various institutions. This is made feasible by the government commitment and support for the expansion of this industry in banks and financial institutions, NGOs, UN agencies and government bodies implementing programs in microfinance delivery , livelihood  and poverty reduction projects.