SPECIAL FEATURE
without credit histories. Yunus proved them all wrong. His borrowers – poor rural women with no collateral – repaid at rates exceeding 95 percent. More importantly, they used their loans productively: starting or expanding businesses, sending their children to school or investing in health and nutrition. This was more than a financial innovation; it was a social revolution.
Marilyn Medrano Acting Chief Auditor, Internal Audit, OPEC Fund
I’m from the Philippines and my hometown is on the Pacific coast, set against the majestic backdrop of Mount Mayon. It’s also where around 10-20 typhoons touch down each year. Coming from a developing country, right from a young age I witnessed poverty, destruction and profound loss caused by frequent natural disasters. My village and family nurtured a deep sense of community and the need to care for others. After training at a Big 4 accounting firm, I became an internal auditor at the Asian Development Bank (ADB) in Manila in 2007, where I was lucky to have really good mentors. I audited a wide range of activities, including finance, IT, treasury, risk management and operations. There I helped ADB obtain its first External Quality Assessment (EQA) with a 100 percent conformance rating from the Institute of Internal Auditors in 2011. My more recent work was for the Asian Infrastructure Investment Bank, where I designed and implemented similar initiatives leading to its inaugural EQA. What I bring to the OPEC Fund is my experience with two triple-A rated MDBs. Right now, our team is preparing to align with the new global internal audit standards. I’ve been Acting Chief Auditor since November 2024 and I contribute through a combination of technical work, mentorship, leadership and relationship building.
Microcredit transformed women from passive to active economic
agents. Microfinance has shown that development is less about charity and more about opportunity. Yunus went on to win the Nobel Peace Prize in 2006 and the OPEC Fund Annual Award for Development in 2008. At the OPEC Fund we have since embraced and expanded upon this model, recognizing that financial inclusion is one of the most effective levers for social transformation and economic growth. Through our Private Sector window, we have provided billions of dollars to microfinance institutions and banks across our partner countries, in particular supporting financial inclusion and women entrepreneurship.
Meriem Boulifa Senior Loan Management Officer, Finance, OPEC Fund
I was born in El Kef, a small town in Tunisia not far from the Algerian border. At the age of five, I moved with my family to the capital city of Tunis. After finishing high school in Tunisia, I moved to Europe, where I studied for a degree in Economics at the University of Toulouse, a postgraduate degree in Auditing from Paris Descartes University and an MBA at Strathclyde Business School, Glasgow. My study and early work experiences gave me a solid foundation in loan administration, financial management, project implementation, policy design and development. I have had
the opportunity to support various international organizations like the African Development Bank and the United Nations Office for Project Services, where I administered projects funded by the International Fund for Agricultural Development. What I particularly like about the OPEC Fund is that we work in a multinational and multicultural environment. I see this as an opportunity for growth and learning from our differences. Listening to others, you learn from them, you adjust yourself and learn. It is about gaining valuable experience and personal development.
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