Stuart Rutherford

Financial Inclusion Expert

Trained originally as an architect, Stuart Rutherford later became interested in how poor people manage their money, and how they might be helped to do it better

Trained originally as an architect, Stuart Rutherford later became interested in how poor people manage their money, and how they might be helped to do it better. He has collected details of many financial devices in dozens of countries and has described them in his book The Poor and Their Money. With David Hulme of Manchester University, he devised and then led the first ‘financial diary’ research project, in Bangladesh in 1999. Results from the first crop of financial diary exercises were written up in Portfolios of the Poor, of which he is a co-author. Rutherford has also looked at money management for poor people from the point of view of a service provider, having established the MFI SafeSave in Dhaka, Bangladesh, in 1996, and has also worked as a teacher and consultant. He is married and now lives in Nagoya, Japan.

Posts by Stuart Rutherford

Membership in Bangladeshi MFIs: growing, volatile, and multiple

This note attempts to use data from ‘financial diaries’ element of Grameen II study to examine the growth, volatility and multiplicity of MFI membership among a small number of villagers.

Grameen II – The first five years 2001-2005

The study highlights the areas for improvement for a possible Grameen III to emerge for emerging players in the microfinance sector in Bangladesh.

The New Loan Arrangements

This note describes the new loan arrangements and how staff and borrowers have reacted to them. (Analysis of the bank’s financial performance is in another Note 4 in this series)

Member Savings

This second note in the Grameen II series now addresses specifically the significant growth in new member savings. Few most important changes are in the bank’s new approach to savings deposits.

What Is Grameen II? Is It Up And Running In The Field Yet?

This first note in the series, ‘What is Grameen II?’ introduces the Grameen Bank and the changes it has made recently, known as the ‘Grameen Generalised System’ or ‘Grameen II’.

GRAMEEN II – At the end of 2003 – A ‘grounded view’ of how Grameen’s new initiative is progressing in the villages

This paper in a nutshell outlines what Grameen II is and how it works. It discusses the similarities between old and new Grameen, in respect of the delivery environment, group responsibilities, branch opening procedures, loan loss provisioning and write-off, staff performance incentives, and computerisation. It comments on branch performance and concludes that Grameen II is […]

Money Managers: The Poor and Their Savings

This note briefly discusses the savings needs of poor people in various stages of their lives and categorises the expenditures into life cycle events, emergencies and opportunities.

Innovative Approaches to Delivering Microfinance Services: The Case of VSSU, West Bengal

This report reviews the work of VSSU, a MFI in West Bengal and attempts to assess the opportunities and constraints of VSSU’s services and to their replication elsewhere