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Aug 2014
Rwanda: New Initiative to Address Microfinance Challenges, Spur Financial Inclusion
August, 20 2014
Rwanda - "The fund will play a key role in bridging the refinancing gap faced by most MFIs in Rwanda," said Rita Ngarambe, the executive secretary of Association of Microfinance Institutions in Rwanda (AMIR) ...
Estee Ward: Microfinance in Jordan Isn’t Helping to Empower Women
August, 20 2014
Jordan - The issue is not the amount of funding given, but the lack of clarity about how it is distributed. ...
Nigeria: Jonathan Disburses N869m of N220bn MSME Fund
August, 20 2014
Nigeria - President Goodluck Jonathan yesterday disbursed about N869.9 million of the N220 billion earmarked for the Micro, Small and Medium Enterprises (MSMEs) to the first batch of beneficiaries of SMEs in Abuja ...
Bangladesh: MFIs Warned of Failing to Comply with MRA Rules
August, 19 2014
Bangladesh - The regulator has warned micro finance institutions (MFIs) against non-compliance with the required provision for allowing 15-day grace period before starting recovery of loan installments. ...
India: FirstRand Bank Focuses on Urban Unbanked
August, 19 2014
India - Current pilot includes going to smaller, specific areas such as Hill road in Bandra and Lokhandwala in the western suburb of Mumbai instead of going to larger area ...
India: Many Queue Up for Small-Bank Licences
August, 19 2014
India - The interested firms are awaiting final guidelines which will provide more clarity to firm up their plant to apply ‘differentiated bank’ licence to further the objective of financial inclusio ...
BSP: Use of Electronic Money Growing in Philippines
August, 19 2014
Philippines - In its 2013 Report on the State of Financial Inclusion in the Philippines, the BSP said the banking system has become more inclusive over the last few years. The report showed deposit accounts in banks increased by 9 percent in 2013, while loan portfolio jumped 27 percent to P4.25 trilion in 2013 ...
Ghana: Stop Charging High Interest Rates – BoG Tells MFIs
August, 19 2014
Ghana - The Head of Other Financial Institutions Supervision Department of the Bank of Ghana (BoG), Mr Raymond Amanfu, made the remark at the third annual general meeting (AGM) of the Ghana Association of Microfinance Companies (GAMC) in Accra ...
Regulatory Supervision in Microfinance: Friend or Foe?
August, 19 2014
Global - Over the past decade, researchers have sought to understand the effects of regulatory supervision on the behavior and efficiency of microfinance institutions (MFIs). The conclusions from these studies sparked numerous debates on the future of the industry ...
Cambodia: SMBC Buys IFC Acleda Shares
August, 19 2014
Cambodia - Japanese financial firm Sumitomo Mitsui Banking Corporation (SMBC) has agreed to buy out the International Finance Corporation’s (IFC) stake in Acleda Bank for more than $100 million ...
Jean-Claude Bastos de Morais, International Entrepreneur: Capital Is the Key to Unlocking Angola’s SMEs
August, 18 2014
Angola - With the right economic indicators in place, enviable natural resources and strong political will, Angola has an enormous opportunity to build a strong, diversified economy through a large domestic SME sector and through the attraction of innovative international companies ...
Ericsson Chosen by ASBANC to Develop a New Channel to Enable Financial Inclusion in Peru
August, 18 2014
Peru - ASBANC, Peru's National Bank Association, has chosen Ericsson's Wallet solution to power next-generation mobile financial services aiming to include 2.1 million unbanked Peruvians within 5 years ...
Myanmar: A Changing Role for Microfinance After Natural Disaster
August, 18 2014
Myanmar - Client demand for formal financial services is not always straightforward: there isn’t always a critical mass of people saying “I want that specific service.” Sometimes clients are able to better articulate what they don’t want, such as the burden of mitigating external risks ...
Using Mobile Money to Buy Water and Solar Power in East Africa
August, 18 2014
Africa - The increasing adoption of mobile money across east Africa has made it easier for other start-ups such as Grundfos Lifelink (GLL) to begin to plug the gap in service provision to the poorest communities ...
Nigeria: N220b MSMEs’ Fund for Launch Today
August, 18 2014
Nigeria - The N220 billion Micro, Small and Medium Enterprises Development (MSME) Fund designed by the Central Bank of Nigeria (CBN) to support entrepreneurs will be launched today by President Goodluck Jonathan in Abuja ...
Laos and World Bank Sign Agreement to Finance SMEs
August, 15 2014
Laos - The Government of Lao People’s Democratic Republic and the World Bank Group today signed two separate agreements worth up to USD$50 million ...
India: Modi Delivers on Promised Financial Inclusion Mission
August, 15 2014
India - Prime Minister Narendra Modi Friday announced a financial inclusion mission to mark India's 68th Independence Day and extend banking, credit, insurance and pension services to all households ...
Bandhan, India's Newest Bank, Takes Shape
August, 14 2014
India - As it prepares for a transformation from a microfinance institution to a bank, Bandhan plans to stick to its Grameen model, creating a unique hybrid model of banking. ...
Largest Transaction in Indian Microfinance Since 2010
August, 14 2014
India - Janalakshmi, a microfinance institution headquartered in Bangalore, announced that it had closed its Series D primary equity raise of INR 3.25 billion ...
India: Microlenders to Open 30 Million Bank Accounts by Aug 2015
August, 13 2014
India - Microfinance companies have committed to opening at least 30 million bank accounts within a year through tie-ups with banks as part of the government’s ambitious financial inclusion plan likely to be announced on Independence Day. ...
Sarah Kaplan and Jackie VanderBrug: The Rise of Gender Capitalism
August, 13 2014
Global - Investing with a gender lens can create financial and social impact by increasing women’s access to capital, promoting workplace equity, and creating products and services that improve the lives of women and girls. ...
Philippines: Developing Microinsurance - The Path Taken
August, 12 2014
Philippines - The Insurance Commission (IC) has taken great strides toward the promotion of microinsurance in the country, considering the initiatives and strategies undertaken over the years. The most important of these initiatives is the crafting and issuance of the Regulatory Framework for Microinsurance, as embodied in Insurance Memorandum Circular (IMC) 1-2010 ...
Rwanda: Micro Finance Institutions to Boost Savings, Increase Liquidity
August, 12 2014
Rwanda - With its vital position in accelerating access to finance, microfinance institutions (MFIs) in Rwanda have been urged to increase savings in order to boost the required liquidity ...
Digital Finance: Catalyzing New Energy Business Models
August, 12 2014
Global - Mobile payments have dramatically reduced collection costs, and product-embedded technology has helped to tie the usage of electricity to receipt of payments, helping to mitigate financing risks ...
African Bank Charging 60% Interest Rescued to Help Poor
August, 12 2014
South Africa - As African Bank Investments Ltd. (ABL) spiraled toward collapse, South Africa’s Reserve Bank fought to save lending to the nation’s poor, ultimately leaning on firms with more traditional clients to carry out the rescue ...
India: Micro-Insurance Products May Be Overhauled
August, 12 2014
India - Insurance companies have sought better incentives to distributors such as banking correspondents apart from having ticket-size of products of up to Rs 1 lakh in order to generate better interest to sell the products ...
The Evolution of Impact Investment in India
August, 11 2014
India - From a trickle of $1.17 million in 2000 to investments of about $250 million per annum since 2011, there has been a major uptick in investments, taking the total to $1.6 billion spread over 220 for-profit impact enterprises ...
Kenyans Kshs 6.2 Billion Transacted Daily Through Mobile Money
August, 11 2014
Kenya - Kenya’s mobile money transactions are expected to set another record this year after deals worth more than 1.1 trillion shillings were conducted in the first six months of this year ...
India: MFIs Demand More Incentives for Working as Business Correspondents
August, 11 2014
India - Microfinance institutions (MFIs), through a reach of nearly 30 million rural borrowers, are expected to play a significant role in government's plans, particularly with RBI recently relaxing norms on business correspondents banking model ...
Involving the Urban Poor in Inclusive Housing
August, 11 2014
Global - In cities of the Global South, where a lack of affordable and adequate housing is all too common, effort has been made by governments, NGOs, and local communities to make inclusive housing a reality. One crucial solution that has been found effective in several cities is participatory planning, which allows the urban poor to participate in the process of urban planning ...
Pakistan: Microfinance - Towards an Inclusive Financial Sector
August, 11 2014
Pakistan - Governments have a important role to play in building an Inclusive Financial Sector; however, this role has to be supportive as at times government interventions can be regressive and impede financial sector development ...
Charan Singh, RBI Chair for Economics, Indian Institute of Management: Ideas for a Financially Inclusive India
August, 11 2014
India - To achieve success in financial inclusion, the government will next need to consider out-of-the-box measures to make a difference. ...
Taiwan: Banks to Lower Fees on Microcredit Transactions
August, 08 2014
Taiwan - The Financial Supervisory Commission (FSC) announced in writing to reiterate, when customers are applying for relevant business, the charging of processing fees should adopt the principles of reasonability, openness, and transparency. The FSC encourages banks to offer fee discounts on microcredit applications ...
El Salvador to Improve Productivity with IDB Support
August, 08 2014
El Salvador - The Inter-American Development Bank (IDB) has approved a $100 million loan to promote access to investment credit for micro, small and mid-sized companies (MSMEs) to strengthen their productivity and competitiveness ...
Uganda: Registered Mobile Money Users Reach 17 Million Mark
August, 08 2014
Uganda - Just under six years since its establishment in Uganda, the penetration of mobile payment has grown fast with the number of registered mobile account holders standing at 17.6 million ...
Rocket Internet Raises $445 Million to Invest in Mobile Payments in Emerging Markets
August, 07 2014
Global - Philippine Long Distance Telephone Company is investing 333 million euros (US $445 million) for a 10% stake in Rocket. The deal will combine the Philippine telcom operator’s expertise in mobile payments and resources with Rocket's global e-commerce and web services footprint ...
Ignacio Mas, Senior Research Fellow, University of Oxford: Shifting Regulation of Digital Financial Services
August, 06 2014
Global - Tackling financial inclusion — that is, making financial services truly a mass-market offering — will require more, and more diverse, players contributing variously their resources, inventiveness and goodwill. ...
Mainstream Finance is Failing Entrepreneurial Haitians
August, 05 2014
Haiti - Haiti is often synonymous with underdevelopment, but those who know the immigrant community in south Florida note Haitians' propensity for entrepreneurship at least as frequently as poverty. Microfinance experts say the lack of formal employment opportunities in Haiti are part of this entrepreneurial spirit ...
Microfinance in Yemen Thrives Despite Economic Troubles
August, 05 2014
Yemene - According to World Bank statistics from 2011, 54 percent of the Yemeni population lives below the poverty line of $2 a day. In this dire economic environment, microfinance has become increasingly prevalent in Yemen since it kicked off in 1997 ...
Sri Lanka: HNB Planning to Acquire a 51% Stake in Prime Grameen Micro Finance
August, 04 2014
Sri Lanka - Considering the opportunity to be part of the upliftment of the rural economy in line with the national vision of Sri Lanka, the Bank was keen to further penetrate in to the untapped market potential in microfinance ...
Hana Bank Launches Microfinance Unit in Myanmar
August, 04 2014
Myanmar - South Korean lender Hana Bank said Monday it has established a microfinance institution in Myanmar, joining in the global competition to tap into the impoverished country that has launched dramatic reforms to open up its economy ...
Cambodia: Big Strides for Savings in MFIs
August, 01 2014
Cambodia - Microfinance deposits are on the rise, a positive trend that the industry says is moving the country towards a reduced dependency on foreign funding and that will eventually lead to greater control over interest rates ...

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