Ghana: Microfinance Rules To Be Tightened
July, 30 2013
Ghana - Following moves by Ghana’s regulator to improve capital requirements across the financial industry, with hikes in recent years for universal banks and non-bank financial institutions, the microfinance sector is now slated for an increase, prompted in part by a spate of recent lender failures that led some savers to withdraw their holdings. ...
Chile: Banco Internacional to Support the Agriculture Sector with New Financing Plans
July, 26 2013
Chile - The Agriculture Minister, Luis Mayol, this morning attended the signing of an agreement between the International Finance Corporation (IFC) and Banco Internacional for a loan of US$ 25 million to be extended to Banco Internacional to set up a new business unit focused on increasing financing for Small and Medium Enterprises (SME) in Chile’s agro-industry sector ...
Philippines: Draft Rules for Microfinance NGOs Out
July, 25 2013
Philippines - The Securities and Exchange Commission (SEC) has released the draft rules for nongovernment microfinance organizations as part of broader efforts to support businesses of low-income households. ...
ADB Plans to Boost Private Sector Financing in Azerbaijan
July, 24 2013
Azerbaijan - The Asian Development Bank plans to expand the private sector funding in Azerbaijan, Principal Investment Specialist at the ADB's Private Sector Department, Rainer Hartel, said at a press conference on issuing a $50 million loan to AccessBank in Baku on July 24 ...
Helping India’s ‘Forgotten’ Residents
July, 23 2013
Bangalore, India - Duck down an alleyway, a mud track leads to about 300 dwellings, many little more than tarpaulin sheets strung over wooden struts. The residents are India’s forgotten: “ultra-poor” families of migrant labourers, many living on less than $1.25 a day. ...
Venezuela: Ensuring Microcredit's Primary Goal is Changing Lives
July, 23 2013
Caracas, Venezuela - Microfinance is essentially social, but its expansion and evolution towards diversified financial services for those who are excluded from the conventional system has compelled it to develop new codes and practices to reinforce the message that its goal is people - particularly the poor. ...
Tanzania: TPB Launches Banking Service
July, 18 2013
Tanzania - Tanzania Postal Bank (TPB) has introduced a new banking service known as ‘TPB Popote’ to increase financial inclusion among the people living in villages where the facilities are inadequate ...
India: Will Microfinance Firms Make Good Banks?
July, 18 2013
India - Are MFIs, which mostly operate in rural areas, best suited for the complex world of banking? Or, as many observers ask, are they to be trusted in the wake of their unsavoury lending practices in Andhra Pradesh, which nearly capsized the sector a few years ago ...
Latest on Branchless Banking from Indonesia
July, 12 2013
Indonesia - The 2011 Global Financial Inclusion Index finds only 19.6% of the population have formal accounts. Indonesia has approximately one hundred million people who cannot, or do not, access financial services of any kind across a vast and diverse economy ...
How Better Data Can Galvanize Financial Inclusion
July, 11 2013
Global - The study, “Financial Access 2012,” was co-authored by teams from the International Finance Corporation and the Consultative Group to Assist the Poor and its findings show a growing trend towards greater financial inclusion worldwide, despite broad variance between high and low-income nations ...
Pakistan: Microfinance Sector - Survival of the Fittest
July, 08 2013
Pakistan - In the times to come, while the funds might be available in abundance, its acquisition might not be as easy as it was in the past. The microfinance catalysts (MFIs, MFBs and RSPs) are required to gun the engine to attract the potential investors and muster funds. ...
Tanzania: NMB, European Bank Seal Sh140 Billion Deal
July, 05 2013
Tanzania - National Microfinance Bank (NMB) has signed a 70 million Euro (about 140bn-) loan agreement with the European Investment Bank (EIB) to support the local bank's growing Micro, Small and Medium Business (MSME) customers ...
FINCA Azerbaijan Places Bonds Worth 10 Million Manat
July, 03 2013
Azerbaijan - On July 1, 2013, FINCA Azerbaijan Non-Banking Credit Organization completed its inaugural bond issue in Azerbaijan's capital markets, as the State Committee for Securities registered 10,000 bonds, each with 1,000 AZN nominal value, for a total issuance of AZN 10 million and with a maturity of 3 years, according to a press-release by the organization ...
Cambodia: Informal Lending Still Thriving
July, 02 2013
Cambodia - The expanding banking sector and the spread of microfinance institutions (MFIs) in rural areas have failed to elbow informal, unlicensed money lending out of the market, industry experts say ...
India: Look South for Ways to Bring Banking to the Poor
July, 01 2013
India - In the last 20 years, the Reserve Bank of India (RBI), the central bank, has licensed just a dozen new private sector banks. Now, the RBI has invited applications for a new round of permits and Monday was the deadline ...
Malawi Joins Global Better Than Cash Alliance
July, 01 2013
Malawi - Today the Government of Malawi announced that it is joining the Better Than Cash Alliance, committing to transition government cash payments to electronic disbursements. ...