Bangladesh: Brac set to launch Tk 700cr farm bond
September, 26 2007
Bangladesh - Brac, one of the country's leading micro-finance institutions, is planning to launch a Tk 700 crore agricultural bond in an effort to increase much needed financing to the agricultural sector ...
Symbiotics closes the first series of its Subordinated Debt CDO programme to provide quasi capital financing to microfinance institutions
September, 21 2007
Geneva, Switzerland - Symbiotics Securities SA, the microfinance investment structuring boutique of Symbiotics, closed its first series of subordinated debt CDO. Symbiotics Securities SA acted as sole sponsor and arranger of the deal and as sole origination agent of the underlying loans, for microfinance programmes in Peru, Nicaragua and Kazakhstan. The Notes were sold to investors in Switzerland, the equity tranche through the government agency Seco/Sifem, the mezzanine tranche to private investors through responsAbility and the senior notes to pension funds and institutional investors through Finethic Microfinance ...
Global Business Leaders Explore Impact of Technology and Credit
September, 17 2007
Washington D.C., United States - IFC, a member of the World Bank Group, and CGAP (the Consultative Group to Assist the Poor), in collaboration with Visa International today begin a global conference called Next Generation Access to Finance: Gaining Scale and Reducing Costs with Technology and Credit Scorin ...
Malaysia: Six banks in micro-finance scheme
September, 14 2007
Kuala Lumpur, Malaysia - Bank Negara has introduced a micro-finance scheme that will initially involve six commercial banks providing loans to small and medium enterprises (SMEs). ...
Conference: Investing Private Capital in Emerging and Frontier Market SMEs
September, 14 2007
Geneva, Switzeland - The 2nd Geneva Private Capital Symposium focuses on Small and Medium Enterprise (SME) investment in emerging markets as a viable and often overlooked investment option. The Symposium makes the business case for investing private capital in emerging and frontier market SMEs. It will showcase today's leading investment vehicles and business models for SME financing and prove how such vehicles are making it easier to invest in this segment ...
Developing Credit Reporting in Africa: Opportunities and Challenges
September, 13 2007
Washington D.C, United States - Credit information bureaus are essential for the well functioning credit market. They allow lenders to better assess and manage risks, help good borrowers to gain access to finance, and are believed to help reduce over indebtedness ...
Nigeria: Onabanjo Varsity Bank Moves Up
September, 11 2007
Lagos, Nigeria - The Central Bank of Nigeria (CBN) has granted provisional approval for the Conversion of the Olabisi Onabanjo University Community Bank Limited to operate as a Micro Finance Bank ...
Pakistan: Guidelines for Islamic microfinance business
September, 10 2007
United States - State Bank of Pakistan has formulated guidelines for provision of Islamic microfinance products and services by financial institutions titled Guidelines for Islamic Microfinance Business by Financial Institutions which aimed at broadening the coverage of microfinance products and services to low income segments of the society in a Shariah compliant manner. ...
Microfinance - the Next Asset Bubble
September, 10 2007
Portland, United States - As many Wall Street businesses become involved, some wonder if microfinance will crumble under the pressure of capitalism ...
Morgan Stanley Announces Creation of Microfinance Group
September, 07 2007
London, United Kingdom - Morgan Stanley today announced the formation of the Morgan Stanley Microfinance Institutions Group (“MFIG”), the first time that an investment bank has established a group dedicated to serving microfinance institutions (“MFIs”). The group will seek to provide a wide range of investment banking services to MFIs, networks and other market participants, from debt and equity capital to corporate advice, risk management, foreign exchange and derivative products. It will also structure and distribute microfinance investment funds ...
Swiss Re provides innovative drought cover to smallholder farmers in Africa
September, 06 2007
Zurich, Switzerland - Swiss Re, the Earth Institute at Columbia University and the Millennium Promise Alliance have pioneered weather derivative contracts protecting several villages in Kenya, Mali and Ethiopia against severe drought. The contracts protect smallholder farmers against drought-related livelihood shocks such as food shortages and famines. About 150,000 people will benefit from the coverage. ...
Grameen to launch in Bahrain
September, 05 2007
Bahrain - Grameen Bank, which focuses on providing micro-credit facilities, is to open a new operation in Bahrain by the end of the year ...
TCX: local currency innovation in developing countries
September, 04 2007
Amsterdam, the Netherlands - A global partnership of financiers, led by Dutch development bank FMO, creates a large and innovative fund to develop local currency products in developing countries worldwide. The Currency Exchange Fund N.V. (TCX) will start up with a transaction capacity of US$ 1.2 billion for long-term local currency financing by its investors. The result: drastically reduced default probability, improved business sustainability and a major contribution to the development of local capital markets. ...
Nigeria: Varsity Students to Benefit From Microcredit
September, 04 2007
Lagos, Nigeria - Arrangements have been concluded by the Social Security Network, Multipurpose Cooperative Union Limited for undergraduate students of various universities in the country to benefit from the cooperative credit facilities initiated by the organisation ...