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Feb 2010
AGFUND Opens Banks for the Poor in Arab World
February, 28 2010
Dubai, UAE - The Arab Gulf Program for United National Development (AGFUND) announced setting up banks for the poor in the Arab World with the hope of fighting poverty and eliminating its adverse effects on the poor communities in Arab states, according to media reports on Sunday ...
China Plans Legalising Private Lending
February, 26 2010
Beijing, China - The People's Bank of China (PBOC) plans to remove a ceiling on rates charged by micro-lending firms and legalise the existence of some non-bank private lending institutions, a central bank official said yesterday. ...
Advans Banque Congo, Microfinance Bank in Kinshasa, Increases its Capital to USD 13 million
February, 25 2010
Paris, France - Advans Banque Congo is pleased to announce that it has recently completed a capital increase to bring its total capital to USD 13 million, in line with the new minimum capital requirements for commercial banks set by the Congolese central bank ...
Gates, MasterCard Foundations Give $16M for Microfinancing in Africa
February, 24 2010
- The Bill & Melinda Gates Foundation is partnering with the MasterCard Foundation to award a joint grant of $16 million to Oak Brook, Ill.-based Opportunity International ...
Growth and Vulnerabilities in Microfinance
February, 24 2010
Washington D.C., United States - This Focus Note distills lessons from four microfinance markets: Nicaragua, Morocco, Bosnia and Herzegovina (BiH), and Pakistan. These countries have all experienced a microfinance repayment crisis after a period of high growth and are important microfinance markets in their respective regions ...
India: SKS Micro Raises Rs100-cr (USD 21.6 ml) Via Non-Convertible Debentures
February, 23 2010
Hyderabad, India - SKS Microfinance, the country’s largest microfinance player in terms of assets, has raised Rs 100 crore through an issue of non-convertible debentures and by issuing commercial papers. ...
Nigeria Accounts for Record 93.79% Micro Credit Demand
February, 22 2010
Nigeria - While Nigeria may be experiencing hiccups in several sectors, it is nonetheless believed that the country has so much potential in the microfinance market, as it accounts for 93.79 percent micro credit demand to the tune of $19.2 billion (N2.82 trillion), according to a research report by Intellectual Capital Advisory Services (Intellecap) ...
Mexico: Financiera Independencia Closes Acquisition of Financiera Finsol
February, 19 2010
Mexico City, Mexico - Financiera Independencia, S.A.B. de C.V., a Mexican microfinance lender of personal loans to lower income segment individuals, announced today that is has successfully closed the acquisition of all of the outstanding shares of Financiera Finsol, S.A. de C.V. the second largest group lending microfinance institution in Mexico, Finsol Vida S.A. de C.V. Finsol S.A. de C.V.and Instituto Finsol Brazil, announced on November 30, 2009. ...
Kenya: Credit Bureaus Herald Era of Financial Discipline
February, 19 2010
Nairobi, Kenya - Last week, the Central Bank of Kenya moved to license the first credit bureau, the Credit Reference Bureau (CRB), a hallmark achievement which CBK says will have a positive impact on the economy ...
Putting Consumer Protection into Action: Options for developing countries
February, 18 2010
Washington, United States - The issue of whether offering financial services to the poor can sometimes do more harm than good has been circling the microfinance industry for some time now. The question is, whose job is it to make sure that microfinance is responsible finance? There’s no easy answer, but regulating the business conduct of financial services providers can undoubtedly play a role ...
EU: Microfinance Facility - Aiding Job Creation
February, 18 2010
Malta - The European Commission launched the Microfinance facility which was speedily approved by both the Council of Ministers and the European Parliament in the first reading last week. ...
Leading Microfinance Stakeholders Join Forces to Enhance Poverty Assessment and Tracking in Sub-Saharan Africa
February, 18 2010
Washington D.C., United States - Grameen Foundation today announced an innovative, two-year initiative designed to help African microfinance institutions (MFIs) better target poor clients and track how they are moving out of poverty ...
Philippines: BSP Allows Smaller Banks to Sell Microinsurance
February, 15 2010
Philippines - Rural, cooperative and thrift banks may now sell microinsurance products following central bank approval of a new policy that seeks to lower transaction costs to benefit poor client ...
Investors Implementing the Client Protection Principles in Microfinance
February, 13 2010
Washington, United States - By endorsing the six principles and joining the Campaign, providers commit to take practical steps to treat clients fairly and respectfully while avoiding practices that might harm them ...
The Regulator’s Dilemma: Navigating Competition Policy
February, 11 2010
Washington, United States - There’s a lot of debate about how best to regulate microfinance. Regulators face the tricky job of safeguarding the stability of the financial sector while simultaneously providing flexibility for institutions focused on the unbanked. Global evidence shows that even well-intentioned regulation and supervision can hamper the ability of institutions to reach poorer populations ...
India: Sequoia Capital To Invest Rs 50Cr (USD 10.7 ml) in Stovekraft
February, 11 2010
Noida, India - The owner of Gilma and Pigeon brands raised its first round of funding from Sidbi Venture Capital in 2007 ...
Microfinance Activities and the Core Principles for Effective Banking Supervision - Consultative Document
February, 11 2010
Basel, Switzerland - The Basel Committee on Banking Supervision has issued for consultation a report that contains the guidance for the application of the Basel Core Principles for Effective Banking Supervision (BCP) to microfinance activities, and the range of practices on regulating and supervising microfinance activities. ...
Government adds 13 More Regional Development Banks to Distribue Micro-Credit
February, 10 2010
Jakarta, Indonesia - The Association of Regional Development Banks (Asbanda) has added 13 more banks for the distribution of micro-credit (KUR) across the country. ...
Haiti: Big Crisis, Small Help
February, 10 2010
United States - A microlender was able to distribute cash in Haiti much more quickly than traditional banks. How microcredit can play a larger role in disaster recovery ...
New Law to Expand Egypt's Microfinance Market
February, 09 2010
Cairo, Egypt - Microfinance has reached a new developmental stage in Egypt as microfinance institutions (MFIs) are "moving to a commercial footing" rather than acting as primarily philanthropic organizations, a bank executive said ...
India: Venture Funds Upbeat on MFIs
February, 09 2010
India - Sector seeks capital to meet 15 per cent capital adequacy from April 2011 ...
Sri-Lanka: Foreign Funding Boost for LOLC Micro Credit
February, 09 2010
Sri-Lanka - LOLC Micro Credit Ltd. (LOMC), the microfinancing arm of the LOLC Group, recently received foreign funding totalling US$ 14 million to expand its activities in Sri Lanka. ...
Kyrgyz Development Fund Establishes Microcredit Company
February, 08 2010
Bishkek, Kyrgyzstan - The Development Fund of Kyrgyzstan has created a microcredit company for financing of the agricultural sector, the institution reported. ...
Belgian MFI Fund Incofin Hits Road to Raise $139M
February, 06 2010
India - A major part of the fund will be committed to investments in Indian microfinance firms ...
Syria Thinks Small
February, 05 2010
Cairo, Egypt - Damascus turns to microfinance to combat poverty ...
MicroVest Closes $60 Million Microfinance Equity Fund
February, 04 2010
Washington D.C., United States - MicroVest Capital Management, LLC is pleased to announce the closing of MicroVest II, LP, a private equity fund targeting top-tier microfinance institutions worldwide. The fund will serve as a capital intermediary between investors and financial institutions that serve the working poor ...
Spandana Places Rs 25Cr (USD 5.3 ml) Commercial Paper
February, 03 2010
Noida, India - Spandana plans to utilise the fund to reduce the cost of borrowings ...
Financial Inclusion: Using Existing Payment Programs to Reach Scale
February, 02 2010
Washington D.C., United States - Existing government payment programs could be a powerful mechanism to bring more poor people into the formal financial services system, enabling them to save money, make electronic person-to-person payments, and obtain microcredit according to Banking the Poor via G2P Payments, a new report from CGAP and the U.K.’s Department for International Development (DFID) ...
Namibia: First Micro-Finance Bank Gets Licence to Operate
February, 02 2010
Namibia - Namibia’s first micro-finance bank is a reality after the Bank of Namibia (BoN) yesterday granted Fides Bank Namibia a permanent banking licence ...
Cambodia: MFI Prasac Set to Seek Licence to Take Deposits
February, 01 2010
Cambodia - Microfinance institution (MFI) Prasac will apply to the National Bank of Cambodia (NBC) this week for a licence to take deposits from the public. ...
Asia Investors Yet to Warm up to Microfinance
February, 01 2010
Singapore - Asia's institutional and private investors have yet to warm to the microfinance sector, despite its prominence in the region and its resilience as an asset class this past downturn ...

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