India: Now, an Infosys `Nano` for financial inclusion
May, 27 2008
India - Finacle, the banking product arm of software major Infosys Technologies, has developed a solution to take forward financial inclusion which, in its scope and business possibilities, can turn out to be a major offering. ...
Bangladeshi NGO goes global for commercial lending
May, 27 2008
Bangladesh - ASA International Holdings, a company managed and partially owned by ASA, one of Bangladesh's largest NGOs, has raised $150 million (around Tk 1,000 crore) as equity from foreign private investors to fund commercial micro-credit lending outside Bangladesh ...
Citibank and Citi Microfinance Announce Pioneering Credit Card with Citi Banamex USA
May, 23 2008
Los Angeles, United States - Citi and Banamex USA recently introduced a new co-branded credit card at select Citibank financial centers in Texas. Through an ongoing pilot program available through eight Citibank Financial Centers in Texas and working with Citi Microfinance and Banamex USA, it is now possible for Citibank customers to grant a shared-credit card to a friend or relative in Mexico with Banamex USA’s exclusive bi-national Card program ...
Korea: Microfinance Key to Sustainable Development
May, 22 2008
Seoul, Korea - Members of the World Savings Bank Institute (WSBI) have agreed to step up cooperation with international organizations and governments to improve financial access of those being left out of financial services, the Korea Federation of Savings Bank (KFSB) said Thursday ...
Scotiabank Announces a New Investment in Peru
May, 20 2008
Toronto, Canada, Lima, Peru - Scotiabank Peru today announced that it will acquire a 100-per-cent interest in Grupo Altas Cumbres' Peruvian operation, Banco del Trabajo. This agreement is conditional upon regulatory
Code of Ethics to be Established in Microfinance
May, 19 2008
New York, United States - At the initiative of Deutsche Bank, The Boulder Institute, and CGAP, leaders of microfinance institutions, investors, banks and development agencies gathered in New York to develop a common ground and set of principles that would help microfinance navigate between commercialization and its social mission ...
Microfinance At The Crossroads
May, 19 2008
United States - Much of the recent surge in microfinance investment and experimentation has been on a for-profit basis. That's turned up the heat on a longstanding debate: How can microfinance organizations (MFIs) scale up to provide financial services to the vast majority of the world's poor who currently lack access, without losing sight of their social mission ...
IDB approves US$50 million for Ecuador’s Banco Pichincha
May, 14 2008
Washington D.C., United States - The Inter-American Development Bank today announced the approval of a six-year US$50 million loan to Banco Pichincha, Ecuador’s leading commercial bank, to expand financing for housing, small businesses and microenterprises. ...
LuxFLAG grants new MIV labels
May, 09 2008
Luxembourg - The Luxembourg Fund Labeling Agency (LuxFLAG), created in July 2006, has granted its microfinance label to two new applicants and has renewed the labels delivered in 2007 to three microfinance investment vehicles (MIVs) ...
India: SKS Microfinance to launch urban microfinance
May, 07 2008
India - SKS Microfinance, India’s largest microfinance institution, is planning to launch microfinance in urban colonies of Nagpur and Pune this fiscal. The company has conducted a successful pilot in Nandanvan branch in Nagpur where 3695 members have opted for loans worth Rs.4.5 crore since November, 2007 ...
Borrowers hungry for a helping hand to survive
May, 06 2008
London, United Kingdom - Grameen, the pioneering microlending institution, has seen a sharp rise in problems for millions of poor borrowers across the developing world in repaying loans as food prices soar, according to Muhammad Yunus, its founder and Nobel Peace Prize winner ...
In Tunis, FEMIP undertakes to promote microfinance in the Mediterranean region
May, 05 2008
Tunis, Tunisia - The Facility for Euro-Mediterranean Investment and Partnership (FEMIP) and Sanabel, the network of microfinance institutions in the Arab countries, held a conference today in Tunis on the subject “Microfinance in the Mediterranean: what impact?”, which brought together nearly 400 participants to engage in debate with some thirty speakers from microcredit institutions, the banking sector, finance institutions, academia and civil society ...
Mobile Banking to Transform Microfinance
May, 04 2008
Washington D.C., United States - A new report from the global microfinance body CGAP predicts that, with the right market conditions, mobile banking could reach large numbers of poor people who are outside the formal financial system.
Visa Launches New Corporate Responsibility Program
May, 02 2008
New York, United States - Commitments announced at Clinton Global Initiative meeting - Efforts focus on combating poverty through microfinance, financial literacy and development of new technologies ...
Conference: Asia-Pacific Regional Microcredit Summit
May, 02 2008
Indonesia - The Asia-Pacific Regional Microcredit Summit will be held in Bali, Indonesia from July 28-30, 2008. The Microcredit Summit Campaign and Gema PKM Indonesia are pleased to announce the opening of registration and the launch of the Asia-Pacific Regional Microcredit Summit website ...
Microfinance and the Global Food Crisis
May, 01 2008
Washington, D.C., United States - The twin crises of world food price inflation and the U.S. sub-prime mortgage meltdown are inciting anger in the developing world toward global capital markets. ...
Standard Chartered, ACCION Call for Greater Capital-Market Engagement to Fund South Asian Microfinance
May, 01 2008
Delhi, India - Microfinance institutions (MFIs) in South Asia urgently need access to capital markets to expand their outreach, said Jaspal Bindra, CEO, Asia, Standard Chartered Bank, in opening comments at the ACCION International and Standard Chartered-hosted conference, 'Microfinance Cracking the Capital Markets South Asia,' held April 29-30 in Delhi ...