not be readily accessible to deposit or take out funds. These banks which would have charged little or no interest on small amounts of cash are replaced by lending companies. Here, these companies may charge extremely large interest rates to marginalized community members thus increasing the cycle of poverty and profiting off of another's loss. In Canada, microfinancing competes with pay-day loans institutions which take advantage of marginalized and low-income individuals by charging extremely high, predatory interest rates. Communities with low social capital often don't have the networks to implement and support microfinance initiatives, leading to the proliferation of pay day loan institutions. Pay day loan companies are unlike traditional microfinance in that they don't encourage collectivism and social capital building in low income communities, however exist solely for profit. Microfinance Networks and Associations There are several professional networks of microfinance institutions, and organisations that support microfinance and financial inclusion. MicroFinance Network The Microfinance Network is a network of 20 to 25 of the world's largest microfinance institutions, spread across Asia, Africa, the Middle East, Europe and Latin America. Established in 1993, the Microfinance Network provided support to members that helped steer many industry leaders to sustainability, and profitability in many of their largest markets. Today as the sector enters a new period of transition, with the rise of digital financial technology that increasingly competes with traditional microfinance institutions, the Microfinance Network provides a space to discuss opportunities and challenges that arise from emerging technological innovations in inclusive finance. The Microfinance Network convenes once a year. Members include Al Majmoua, BRAC, BancoSol, Gentera, Kamurj, LAPO, and SOGESOL. Microfinance services including Easy Paisa by Telenor and Temeer Microfinance Bank, Jazz Cash by Jazz Telecom, and Zindigi have all been introduced by various telecom companies in Pakistan. These services provide lending services, retailer services, and online money transfer capabilities. Partnership for Responsible Financial Inclusion The Partnership for Responsible Financial, previously known as the Microfinance CEO Working Group, is a collaborative effort of leading international organizations and their CEOs active in the microfinance and inclusive finance space, including direct microfinance practitioners, and microfinance funders. It consists of 10 members, including Accion, Aga Khan Agency for Microfinance, BRAC, CARE USA, FINCA Impact Finance, Grameen Foundation, Opportunity International, Pro Mujer, Vision Fund International and Women's World Banking. Harnessing the power of the CEOs and their senior managers, the PRFI advocates for responsible financial services and