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Feb 2011
Financiera Independencia Closes Acquisition of Apoyo Financiero Inc.
February, 28 2011
Mexico City, Mexico - Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R. announced today that is has successfully closed the acquisition of 77% of the outstanding shares of Apoyo Financiero Inc. ...
India Budget to Help Microlenders
February, 28 2011
Mumbai, India - India's finance minister Monday announced the creation of a 1-billion rupee ($22 million) equity fund for microfinance institutions, a step that will provide the much needed financial support to smaller players. ...
Credit Risk Threat for Global MFIs
February, 27 2011
Chennai, India - Credit risk constitutes a major threat for the global microfinance industry, which reflects the fast growing problem of over indebtedness among millions of microfinance customers, according to Microfinance Banana Skins 2011 survey ...
Microfinance Industry Issues Collaborative Report on Orderly Debt Restructurings of Microfinance Institutions
February, 25 2011
New York, United States - The International Association of Microfinance Investors (IAMFI) today issued a report, sponsored by Morgan Stanley, on best practices and guidelines for handling debt defaults by microfinance institutions (MFIs). ...
India: Grameen Koota Raises Rs.35 Crores through Non-Convertible Debentures
February, 24 2011
Bangalore, India - Bangalore-headquartered, Grameen Financial Services Private Limited (popularly known as Grameen Koota) has raised INR 35 crore (~USD 8 million) of debt capital through an issuance of secured, redeemable, nonconvertible debentures (NCDs) to DWM (Cyprus) Limited, a member of the Developing World Markets (DWM) group of companies ...
Taking Islamic Microfinance to Scale
February, 23 2011
Washington DC - Today, microfinance and Islamic finance are professionalized industries with diverse products, growing client bases, and widening geographical coverage. Both have developed innovative solutions to cater to populations that are outside the fold of conventional financial access. ...
Mexico: Compartamos Fourth Quarter Net Profit Flat As Expenses Rise
February, 23 2011
Mexico City, Mexico - Mexican microfinance lender Banco Compartamos said its net profit was practically flat in the fourth quarter as the company increased hiring to support growth in its customer base and loan portfolio. Compartamos, which specializes in small loans to individuals and small businesses, reported Tuesday net profit of 515 million pesos ($41.6 million), or MXN1.20 per share, in the October-December period, compared with MXN516 million or MXN1.21 per share a year earlier. ...
Andhra Pradesh Government Set to Bring New Products Under MFI Act
February, 21 2011
Hyderabad, India - Sensing a foul-play in new products like loan for men and interest-free loans by microfinance institutions (MFI), the Andhra Pradesh government is all set to issue a notification to bring these products under the purview of the new MFI Act ...
Microfinance Guru Muhammad Yunus Faces Removal from Grameen Bank
February, 21 2011
Delhi, India - Pressure on Nobel prizewinner to quit bank board but supporters say campaign is politically motivated by Bangladesh governmen ...
Al Amal Microfinance Bank of Yemen Named Winner of the Islamic Microfinance
February, 16 2011
Sana'a, Yemen - Al Amal Microfinance Bank of Yemen has been awarded US$104,000 under the Islamic Microfinance Challenge 2010, a partnership launched to encourage the reach of Islamic financial services to micro-entrepreneurs ...
East Africa: Regional Bloc, World Bank Sign U.S.$16 Million Grant
February, 16 2011
Washington, DC - The East African Community (EAC) and the World Bank on Monday signed a grant agreement worth $16 million to support a project aimed at transforming the EAC's financial services sector ...
Poland: MFC Global Facility to Promote Social Performance
February, 15 2011
Warsaw, Poland - The Microfinance Centre (MFC) is pleased to announce its plans to set up and run the Social Performance Start-up Fund for country level and regional microfinance networks – a facility to provide technical and financial support to networks willing to start their activities in Social Performance ...
IDB, Oikocredit, Incofin and Calvert Foundation Back Credit Cooperative in Ecuador
February, 15 2011
Washington, DC - Innovative financing arrangement between IDB and Impact Investors gives Ecuadoran rural communities the tools to grow and thrive ...
Impact Investing Creates Template for Responsible Capitalism
February, 14 2011
Washington DC - A microfinance lender in Tamil Nadu, a rice farm in Tanzania, a housing project in Chiapas and a rural development bank in Pakistan: all these projects are recipients of impact investment capital, committed to "doing good while doing well," in one of the fastest growing investment trends of the past two decade ...
Impact Investing Creates Template for Responsible Capitalism
February, 14 2011
Washington DC - A microfinance lender in Tamil Nadu, a rice farm in Tanzania, a housing project in Chiapas and a rural development bank in Pakistan: all these projects are recipients of impact investment capital, committed to "doing good while doing well," in one of the fastest growing investment trends of the past two decade ...
India: Banks Deny Credit to MFIs, Put Condition for Restructuring
February, 14 2011
Mumbai, India - With no appetite for further risk, banks have told the microfinance institutions that they would not lend beyond what they have committed till December 31, 2010. ...
EIF and Qredits sign first Progress Microfinance Agreement for Dutch Businesses
February, 11 2011
Amsterdam, The Netherlands - The Chief Executive of the EIF, Mr Richard Pelly, and Managing Director of Qredits, Mr. Elwin Groenevelt, today signed a guarantee agreement and loan deal aimed at supporting micro-enterprises in the Netherlands ...
India: ADB Plans to set up $250 mn Guarantee Fund for Microfinance
February, 10 2011
New Delhi , India - India’s microfinance institutions (MFIs), under pressure because of stricter rules in their largest market Andhra Pradesh and the consequent slump in repayments there, may get a boost from the Asian Development Bank (ADB) ...
Developing Inclusive Financial Systems: The CGAP Course for Funders of Microfinance
February, 09 2011
Paris, France - This is the only microfinance course in the market tailored for donors and investors. This course will give you the knowledge, tools, and network to make the right decisions. The course covers the history, trends, and the fundamentals of how donors and investors can effectively fund microfinance ...
Russia: Finance Ministry Works Out Prudential Regulations for Microfinance Institutions
February, 08 2011
Moscow, Russia - The Finance Ministry of Russia has developed prudential regulations of capital adequacy and liquidity for microfinance institutions, and the finance minister’s relevant draft order was posted on the ministry’s web site on Tuesday, RIA Novosti reported ...
IFC Helps Maldives Launch Credit Information Bureau to Strengthen Financial Infrastructure
February, 08 2011
Male, Maldives - IFC, a member of the World Bank Group, is helping the Maldives Monetary Authority establish the country’s first credit information bureau to create a formal mechanism for sharing credit information and making more informed credit-related decisions. ...
responsAbility Announces Strategic Investment in PlaNet Finance
February, 03 2011
Zurich, Switzerland - Based on its prominent role in the field of social investments, responsAbility is stepping up efforts to further expand its financing activities in developing countries and emerging markets through a strategic investment in PlaNIS, a subsidiary of PlaNet Finance Group. The cooperation will lead to integrated investment processes, expanded local presence and increased synergies with PlaNet Finance Group ...
India: SKS Chairman Sees Healthy Growth if RBI Sole Regulator
February, 03 2011
Mumbai, India - India's microfinance sector can expect healthy growth if the Reserve Bank of India (RBI) becomes the sole regulator for the sector, SKS Microfinance chairman Vikram Akula said on Thursday ...
IFC Raises $45 Million for Banco Industrial do Brasil to Support Access to Finance for Smaller Businesses
February, 02 2011
São Paulo, Brazil - IFC, a member of the World Bank Group, has disbursed $45 million equivalent to Banco Industrial do Brasil (BIB) to support access to finance for small and medium enterprises in Brazil. ...
2011 Banana Skins Report highlights declines in FX Risk
February, 02 2011
Washington, DC - The 2011 Banana Skins Report, conducted by the Center for the Study of Financial Inclusion (CSFI), is an annual industry-wide survey that highlights the main risks perceived by the microfinance industry ...
The Smart Campaign to Launch a Certification Program for Client Protection in Microfinance
February, 01 2011
Washington, D.C. - The Smart Campaign, a global initiative to incorporate strong client protection principles across the microfinance industry, today announced a plan to launch a certification process that will enable microfinance institutions (MFIs) worldwide to demonstrate their adherence to the Campaign’s core Client Protection Principles as verified by third-party assessors ...
Peru: IIC approves program for funding microfinance institutions of up to US$15 million
February, 01 2011
Washington DC - The program will offer microfinance institutions financing in local currency and in U.S. dollars as well as capital strengthening through subordinated debt. ...
India: Share Microfin MD Takes Home 7.4 cr, More Than Double HDFC Bank MD Salary
February, 01 2011
New Dehli, India - His business is at the bottom of the pyramid, but not his compensation. Udaia Kumar , promoter of microfinance company Share Microfin, draws a salary unmatched by any executive among listed banks. ...

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