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Mobile Banking Spreading to Asia and Latin America
February, 25 2014
Global - Mobile money services for people without access to the traditional financial system are spreading at an increasing pace beyond Africa, according to a report released yesterday (24 February) at the Mobile World Congress 2014 in Barcelona, Spain.
More Access of Micro Credit for Vietnamese Lower Income People
February, 25 2014
Vietnam - The microfinance sector in Vietnam is still developing at a healthy pace. Not only is the sector still growing, but the microfinance institutions of Vietnam are increasingly looking for better ways to reach marginalized and poor communities ...
Africa: Tigo Pioneers World’s First Mobile Money Transfer
February, 24 2014
Africa - Tigo a subsidiary of the international telecommunications and media company Millicom (Stockholmsbörsen: MIC), a leader in thirteen markets across Africa and Latin America, today announced the launch of a pioneering cross-border Mobile Money remittance service between Tanzania and Rwanda. ...
India Attempts to Reach The Under-banked
February, 21 2014
India - Next month, the Reserve Bank of India (RBI, the central bank) will issue new banking licenses for the first time in nine years—a monumental step in the country's efforts to dramatically improve financial inclusion. ...
The Other Driver of Financial Exclusion
February, 19 2014
Global - According to mobile money consultant and thought leader Ignacio Mas, poverty itself isn't the biggest thing keeping the unbanked out of the formal financial system ...
$20m Philippine Microfinance Plan to Give Poor Shot in Arm
February, 16 2014
Philippines - President Benigno Aquino has established a $20 million credit facility designed to benefit and help improve the lives of about one million farmers and fishermen in the country's 20 poorest provinces, according to Malacanang Palace ...
Sri Lanka: LOLC Micro Credit Ltd. Conferred Global Honour
February, 13 2014
Sri Lanka - LOLC Micro Credit Ltd (LOMC) was recently conferred the ‘Smart Campaign Client Protection Certification’, becoming the first ever Sri Lankan MFI (Microfinance Institution) to be evaluated and presented with this top global honour ...
How Credit-Card Debt Can Help the Poor
February, 11 2014
Global - Credit gives people a greater ability not only to weather shocks and take control over their finances. It also helps get their money off the sidelines and into circulation ...
India: Parliamentary Panel Rejects Micro Finance Bill
February, 11 2014
New Delhi, India - A Parliamentary panel today rejected the bill on micro finance institutions which sought to empower the Reserve Bank to regulate them and fix interest rates ceiling on loans to be provided by MFIs ...
Cambodia's Micro-lenders See 44 Pct Lending Growth Last Year
February, 09 2014
Cambodia - Cambodia's 38 microfinance institutions reported a 44 percent increase in loan disbursements in 2013, according to a report of the National Bank of Cambodia ( NBC), the regulator of banking and finance institutions in the country. ...
Uganda’s Microfinance Sector Spreading Out
February, 08 2014
Uganda - The recent acquisition of Micro Uganda by Letshego Holdings of Botswana, coming on the back of micro-lender Finance Trust getting a commercial banking licence in November last year, backs an emerging trend towards consolidation in the country’s microfinance sector. ...
Don't Charge to Enlarge
February, 06 2014
Global - Lower interest rates improve access, the authors conclude. After three years of lower interest rates, cheaper loans bring in significantly more first-time borrowers ...
February, 01 2014
Global - Rising rates may seem like grim news for the poorest borrowers. But they used to be at the mercy of moneylenders who might have charged 100% or more ...