Mr. Michael Sommer attorney and director sustainability of the BIB (Bank im Bistum Essen eG) gave us insights into the microfinance business in our Seminar Social Innovation.
The BANK IM BISTUM ESSEN eG was founded in 1966 as a cooperative bank. It is a member of the Association of German Cooperative Banks and acts as a financial service provider for the Church and Caritas. Currently the BIB is direct or indirectly involved in over 200 microfinance institutions across the world. They have started several microfinance funds, manage two special funds of their own and take the risks at their own expense.
The foundation of the BIB is christian social teaching with the following core principles: Peace – Justice – Preservation of creation
In addition to observing economic principles, the bank's investment guidelines also contain positive and negative criteria in line with the previously mentioned aspects.
Guest lecture from the director sustainability of the BIB
