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. ...
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 ...
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. ...
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. ...
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 ...
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 ...
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 ...
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) ...
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 ...