Jeff Abrams

Email: jabrams@bankablefrontier.com
Office Phone: +1 617 628 – 0711; Mobile: +1 617 756 – 3263; Fax: +1 617 628 – 8788

Date of birth June 9, 1973

Nationality United States

Professional
Accreditation Attorney, licensed in Massachusetts (including U.S. district court)

Education 2007 J.D. (Real Estate Major) Massachusetts School of Law

1995 B.A. (Business and Philosophy) Vanderbilt University

Languages English (native)

Fields of specialty Analysis of financial sector development policies extending the

bankable frontier; real estate law, development and finance.

Profile Building on a background as a licensed attorney and a business

owner, current work focuses on: (i) the enabling environment and
strategic planning for affordable housing finance; (ii) strategic
planning and analysis of market‐based initiatives to extend the
“bankable frontier” for effective savings accounts; and (iii) the
regulatory environment for savings and payment transactions. In
addition, support BFA with certain practice management
activities, including contract review.

Countries In the past 12 months, Jeff has travelled to and done work in:
Kenya, South Africa, India and Mexico.

Experience

Financial Sector Development

Project Manager, Gateway to Financial Innovations for Savings (Global, 2009)

As BFA’s project manager for this large, 42-month project, currently establishing
working relationships with five banks in five countries across three continents to
participate in this program to promote effective delivery of useful savings products to the
poor; and, once the foundational relationships are established, will facilitate the
implementation and research of innovative savings product design and marketing.
Analyst, Design of e- and m-payments regulatory framework (Kenya, 2009)
Part of BFA team advising the Central Bank of Kenya (CBK) on the design and
implementation of a formal regulatory and supervisory framework for retail, electronic
payments (particularly by non-banks) in Kenya. Met with CBK and affected private
sector companies (banks and telcos), and helped draft the regulatory framework for
formally and expressly regulating non-banks offering e- (including m-) retail payment
services.

Project Manager and Analyst, Review of multi-bank initiative to increase financial

access (South Africa, 2008-2009)
Managed this project involving a multi-person international team of banking industry,
microfinance and other financial sector experts. The project included researching and
assessing a unique private-sector  led  initiative,  the  “Mzansi”  bank  account  offered  by 
South  Africa’s four  largest  private  banks  and  the  government’s  Postbank, designed to
substantially increase financial access for the previously ‘unbanked’.  Funded primarily 
by the Gates Foundation through FinMark Trust, the review involved in-depth access to
and assessment of new primary supply-side and demand-side data. Personally
interviewed bank executives (on the supply side) and low-income accountholders (on
the demand side). Performed detailed interrogation of supply-side data and, using
specialized software, of financial access demand-side survey data. Assessed the
Mzansi  initiative’s  impact in South Africa and distilled lessons to be applied to the
clients’ future efforts to catalyze large-scale financial access initiatives in other
developing countries, culminating in co-authoring the final comprehensive report.

Analyst, Design of e- and m-banking regulatory guidelines (Papua New Guinea, 2009)
On behalf of the Bank of Papua New Guinea (central bank), assisted in the drafting of
regulatory guidelines on the subjects of electronic banking and mobile banking. Once
finalized, through further interaction with the regulator/supervisor (BPNG), the
guidelines will be publicly issued by BPNG and will serve as a basis to draft full
regulations in this area later in the year.

Analyst, Focus Note on Prudential Regulation in Microfinance (2008)

Conducting research, across a range of developing countries, to support the
development of a Focus Note on prudential regulation in microfinance. The particular
focus is on the effectiveness of such regulation with respect to mobilizing and keeping
safe  poor  people’s  savings,  as  well  as  assessing  the overall costs versus benefits of
such regulation on various stakeholders.

Analyst, Cross-country report on financial sector policy initiatives (2008)

Conducted research for and co-authored a cross-country report on government policies
deemed ‘market-friendly  coercion’.    Among  other  things,  the  research  focused  on 
policies  ‘encouraging’  multi-bank, private sector rollouts of basic bank accounts. The
report served as a basis of discussion at a South African conference on financial sector
policy reform.
Analyst, Private Sector Navigation of Regulatory Environment for Mobile Banking (2008)
Supported provision of strategic advice to a leading, global mobile network operator
(MNO) to inform its design of a new mobile banking product in an important developing
country.  Focused on how best to structure the MNO’s desired business model, which 
was  developed  in  the  relatively  lax  regulatory  environment  of  “Country  A”,  so  that  it 
would legally comply with the relatively stringent regulatory environment of “Country B”.

Analyst, Microsavings strategy research (Africa, 2008)

Co-authored a paper advising the Gates Foundation on its strategy to dramatically
increase savings mobilization among low-income populations. Among other things,
performed detailed interrogation, using specialized software, of financial access survey
data (FinScope), in order to inform strategies to segment the market for innovative
entry-level financial instruments. The particular geographic focus of the paper was on
South Africa, though it touched on 6 other African countries: Kenya, Uganda, Tanzania,
Botswana, Namibia and Zambia.

Housing/Real Estate Finance, Law and Development

Analyst, Strategy to Extend Formal Housing Finance to Informal Sector (India, 2010)
On behalf of a multilateral donor, advising the (federal) government housing bank,
which currently provides primarily refinance (wholesale) loans to banks and housing
finance companies funding mortgages to the formal sector, how to catalyze such retail
lenders (banks and HFCs) to fund housing in the informal sector. In so doing, studying
the state of the current Indian housing finance market and, in turn, the applicability (from
other developing countries to India) of relevant strategies and instruments to extend
formal housing finance to the informal sector.

Financial Analyst, Start-up Housing Microfinance Company (India, 2008-2009)

Prepared detailed financial projections for a proposed start-up housing finance company
in India that will focus on making wholesale loans to MFIs for the purpose of, in turn,
enabling such MFIs to extend retail housing microfinance loans to low-income dwellers.
The start-up is to be sponsored by a leading global NGO (the client).

Co-author, Strategy paper on using guaranties to leverage housing finance (2008-2009)

On behalf of a leading low-income housing NGO, co-authored an internal strategy paper
advising  on  alternatives  for  using  various  guaranty  structures  to  leverage  the  NGO’s 
own capital and that of its partners to enhance the credit financing available for low-
income housing at the dweller level.

Analyst, Private Sector Delivery of Affordable Low-Income Housing (Global, 2008)

Preparing  substantive  presentations  and  ‘caselets’  of  innovative  business  models,  to 
serve as a foundation and catalyst for discussion at a workshop focusing on private
sector solutions to bottlenecks impeding affordable housing delivery in developing
countries. The workshop was attended by executives from companies all along the
housing value chain in Africa, Asia, North and South America, and was hosted by our
client, a leading international microfinance network.

Analyst, Feasibility of Expansion of Slum-Upgrading Finance Facility (Global, 2008)

Reviewed results of slum-upgrading finance facility currently active in three developing
countries  and  analyzed  the  general  feasibility  for  the  facility’s  successful  replication in
ten countries under consideration for expansion. Drafted summary report to inform
donor’s decision of whether to fund such expansion.

Analyst, Housing finance company (Africa, 2008)

Developed financial model for housing finance company in a low-income African country
to support its long-term strategy to significantly grow its mortgage portfolio. In addition,
performed detailed interrogation, using specialized software, of survey data (FinScope)
on the correlation between financial instrument usage and various demographic data, in
order to inform strategies to segment the market for housing finance and extend the
“mortgage’able frontier”, in this low income African country.

Manual writer, Practitioner Manual for Housing Microloan Product (Philippines, 2008)
Modified a practitioner’s manual designed for a basic retail microloan product to instead 
reflect a particular housing microloan (HML) product, based on an outline of such a
HML product designed by a colleague at BFA.

Case study writer, Housing finance institution (South Africa, 2008)

Co-authored a detailed case study on the Johannesburg Housing Company for the
Development Finance Forum. Among other things, in an effort to help frame future
development strategies for the company and international development finance
practitioners, researched and analyzed the capital structure and financial performance
of this pioneering social housing institution, which has developed approximately 3,000
housing units in inner-city Johannesburg, South Africa over the past 12 years.

Legal Analyst, Housing investment fund (Latin America, 2007)

On behalf of a housing investment fund seeking to raise funds in the international
capital markets for the purpose of making wholesale loans to several Latin American
financial institutions for low-income housing finance, performed detailed legal analysis
across several countries. Among other things, researched and analyzed commercial
laws  in  various  Latin  American  countries,  with  a  particular  focus  on  creditors’  rights, 
secured lending and insolvency laws. Worked with several local attorneys in
conceptualizing the optimal legal structure for the proposed debt financing.

Researcher & Author, Real estate law and microfinance (2007)

In an effort to explore innovations for delivering housing finance to the poor in
developing countries, wrote a paper on the crossroads of real estate law and group-
lending micro-credit methodologies.
President of small property leasing company (Boston, USA, 2009 )
On a very part-time basis, own and manage a small company that owns and leases (i)
eight affordable housing units (rental apartments) to low-income tenants in Boston area,
and (ii) small business equipment (commercial trucks and construction equipment) to
small business owners/operators.

Real estate development consultant (Senior Tour Players, US, 1998-2006)

Consultant to company which develops, acquires, finances, and manages golf course
properties, often as part of larger residential developments, throughout the U.S. Among
other things, conducted due diligence and prepared feasibility studies for various
development projects and investments; helped negotiate, raise and structure debt and
equity financing for various development and/or acquisition projects. Helped developer
negotiate and consummate a complex long-term multi-million dollar land lease contract
between private developer and two government municipalities.

Real estate development entrepreneur (Golftown, Inc., US, 1996-2004)

Founder, president and majority shareholder of Golftown, formed in 1996 to develop
vacant commercial real estate into a thriving golf business. Fully responsible for all
aspects of start-up, development, finance, construction and operation. Established and
maintained relationships with all financing sources (i.e., commercial banks and minority
equity investors) and also served as de facto general contractor for construction.