April 4, 2009 (Washington, DC) Atsumasa Tochisako, President and CEO of MFIC, was chosen as one of “America’s Most Promising Social Entrepreneurs” by BusinessWeek.

Tochisako is one of 25 entrepreneurs who were chosen out of 200 plus nominees recommended by members of the social venture community.  He is the only one in the financial sector.

“As we work hard to overcome numerous challenges in practicing “social business” in the financial sector on a daily basis, we are extremely delighted and encouraged by the news,” said Tochisako.  The financial sector is highly regulated, putting a tremendous compliance burden on the service provider.  In addition, MFIC’s unique approach to poverty alleviation – empowering remittance senders and leveraging migrant remittances for the economic development in their home countries – does not always fit the conventional funding models.  Nevertheless, in recognition of the importance of financial access for institutions and individuals in a healthy economy, MFIC is committed to its mission of making professional financial services available to the poor worldwide.