It is a Venezuelan social entrepreneur of the Ashoka network, creator of Bankomunales, an expert in popular finance and president of the Foundation for Rural Finance (Fundefir), he graduated from the Catholic University Andres Bello in Caracas with a degree in Philosophy; also he graduated as Master in philosophy at the London School of Economics and Political Science.
He has specialized for more than 15 years in research and development of alternative financial models, which designs, perfects and promotes since the presidency of Fundefir, civil association nonprofit responsible for facilitating the access of popular sectors to financial services .
Its main task has been the creation and application of the methodology of Local Financial Companies, called Bankomunales (with “k”). This is an innovative model and micro-financing program, which focuses on the exclusive use of funds provided by its members to meet the credit needs of poor people, excluded from formal systems.
In 2001 it was incorporated, together with Jean Claude Rodriguez president of CAF in Spain, to the important and prestigious global network of social entrepreneurs Ashoka (www.ashoka.org), focusing their personal and institutional efforts, in the systematization and expansion of the Bankomunales, both national and international providing financial education. Solomon Raydán initiative has been stablish in at least 9 states of Venezuela, also being adapted and applied successfully in 10 countries on 4 continents.
In 2004 Fundefir was shortlisted for the World Development Award from the World Bank. In 2005 he won the award for “educational excellence” by the Voluntary Dividend for the Community. In 2008 Fundefir receives the “Award for Excellence” by the organization “Competitive Venezuela” and was selected a finalist from nearly 180 proposals from more than 40 countries at the International Competition for Financial Innovation of Citigroup.
Raydán driven methodology is internationally qualified as a valuable instrument to create employment and inclusion, and thus obtained a new recognition in 2009: Microfinance Award of the Giordano Dell’Amore Foundation, with the support of RITMI, the Italian Red of Microfinance. European award to this methodology represented, promoted and disseminated by Jean Claude Rodriguez in Spain.
In 2010, Solomon was chosen to globalize its proposal, under the competition Globalizer. The organizers reviewed the ideas raised by hundreds of entrepreneurs from 70 countries and levels of development thereof, the panel or jury qualifier found suitable and highlighted the 25 proposals (including that of Raydán) that have greater potential for global expansion.
Meeting of the Fundefir-Total Micro Credit project, With the members of the Bankomunal Comunity in the population of El Guapo, Miranda State, Venezuela. May 5, 2011.
In 2012 the Bankomunales proposal was presented at the Continuity Forum of the American Business Council and Solomon Raydán elected as Social Entrepreneur of the Year by means Chain UNIVISION.