MICROCAPITAL BRIEF: Bangko Sentral Ng Pilipinas (BSP) Allows Micro-Banking Offices (MBOs) to Approve New Deposit Accounts

Bangko Sentral Ng Pilipinas (BSP), the central bank of the Philippines, recently authorized micro-banking offices (MBOs) of financial institutions to extend the range of “allowable activities” [1] with the aim of increasing financial inclusion in the rural parts of the country. Continue reading

MICROCAPITAL BRIEF: Microfinance Network FINCA International Appoints Andree Simon as Co-CEO

The Foundation for International Community Assistance (FINCA International), a US-based nonprofit with microfinance operations in 23 countries, recently announced the promotion of Andrée Simon to the position of co-CEO of FINCA Microfinance Holding LLC (MFH), FINCA’s network of microfinance subsidiaries. Continue reading

MICROFINANCE EVENT: Middle East Global Advisors (MEGA) to Host 2nd International Forum on Islamic Finance (IFIF), November 24-25, 2015, Khartoum, Sudan

Event Name: 2nd International Forum on Islamic Finance

Event Dates: February 9-10, 2016

Event Location: Al Salam Rotana Hotel, Khartoum, Sudan Continue reading

MICROCAPITAL BRIEF: Symbiotics Issues $22m in Bonds to Benefit Indian Microfinance Institutions (MFIs) Annapurna, ESAF Microfinance and Investment (EMFIL), Satin Creditcare

Symbiotics, a Switzerland-based investment company that focuses on emerging markets, recently informed MicroCapital that it has completed bond transactions with a total value of USD 22 million. Continue reading

MICROFINANCE PUBLICATION ROUND-UP: ING’s Billion to Gain: Geographic Variations in Microfinance Impact; Indian Mobile Wallet Market Growth; Profiting From Financial Inclusion

“A Billion to Gain? Microfinance Clients Are Not Cut from the Same Cloth,” G. Hieminga, R. Budjhawan, S. Eriksen, I. Unger; published by ING Bank; November 2015; 8 pages; available at: http://www.ingcb.com/insights/research/microfinance-emancipating-the-worlds-poorest Continue reading

MICROCAPITAL BRIEF: Central Bank of West African States, Islamic Corporation for the Development of the Private Sector to invest $30m in small, medium-sized enterprises (SMEs)

Banque Centrale des Etats de L’Afrique (BCEAO), the central bank for eight West African countries, and the Islamic Corporation for the Development of the Private Sector (ICD), a development finance institution affiliated with the Saudi Arabia-based Islamic Development Bank, recently agreed to provide USD 30 million to small and medium-sized enterprises (SMEs) in the West African Economic and Monetary Union (WAEMU). Continue reading

MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Funds Loan $6.5m to Microfinance Institutions (MFIs) in China, Panama

During January 2016, Austria’s C-Quadrat Asset Management issued loans worth the equivalent of USD 6.5 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in China and Panama. Continue reading

MICROCAPITAL BRIEF: Maria Cavalcanti to Serve as New CEO, President of Pro Mujer

Pro Mujer, a US-based nonprofit that provides healthcare, training and financial services to women in Latin America, recently appointed Maria Cavalcanti as its President and CEO. Continue reading

MICROCAPITAL BRIEF: Symbiotics Completes Bond Disbursements Totaling $5.5m to Microfinance Institution Prasac of Cambodia

Symbiotics Group, a Swiss for-profit provider of investment and business services, recently issued the second tranche of a bond totaling USD 5.5 million to Prasac, a Cambodian microfinance institution (MFI). Continue reading

MICROCAPITAL BRIEF: Luxembourg Directorate for Development and Cooperation (LuxDev) Donates $219k to Support Microfinance Institution (MFI) Asusu Of Niger to Train 550 Young Entrepreneurs

The Luxembourg Directorate for Development and Cooperation (LuxDev), a government-owned institution encouraging international development, has awarded a donation of EUR 200,000 (USD 218,000) to ADA, a Luxembourg-based nonprofit organization formerly known as Appui au Developpement Autonome. The donation is intended to assist Asusu, a Niger-based microfinance institution (MFI). Continue reading

MICROCAPITAL BRIEF: India’s Sa-Dhan, Microfinance Institutions Network (MFIN) Revise Code of Conduct

Sa-Dhan, an India-based association of 214 microlenders and other financial institutions, and the Microfinance Institutions Network (MFIN), a trade association of 48 Indian microfinance lenders, recently launched a revised code of conduct. Continue reading

MICROCAPITAL BRIEF: Fondazione Giordano Dell’Amore, European Microfinance Network Accepting Applications for $54k Microfinance Good Practices Award Through February 14, 2016

Fondazione Giordano Dell’Amore, an Italian foundation that supports microfinance, and the European Microfinance Network, a Belgian nongovernmental organization (NGO), recently announced the eighth annual edition of the Microfinance Good Practices Europe Award, a series that aims to increase awareness about microfinance as a tool for alleviating poverty and promote the sharing of good practice among microfinance organizations in Europe. Continue reading

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MICROCAPITAL BRIEF: Olympus Capital Asia Invests $30m in Equity in Microfinance Institution Network CreditAccess

Olympus Capital Asia, a private equity firm with offices in Hong Kong, New Delhi, Seoul, Shanghai, Singapore and New York, recently invested USD 30 million in equity in CreditAccess Asia, a Dutch operator of microfinance institutions (MFIs) in India, Indonesia and the Philippines, aiming to help expand CreditAccess Asia’s retail lending services. Continue reading

MICROCAPITAL BRIEF: World Vision UK, VisionFund International Prepare for El Niño Response in Africa with $3m “Returnable” Donation from UK Government’s Department for International Development (DFID)

The UK government’s Department for International Development (DFID) recently awarded a “returnable” grant of GBP 2 million (USD 3 million) to World Vision UK, a branch of US-based NGO World Vision International, and VisionFund International, a microfinance organization owned by World Vision, to help families in six African countries recover from anticipated severe weather caused by El Niño, a phenomenon of warmer than average waters in the eastern Pacific Ocean. Continue reading

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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $5m to Opportunity Bank Serbia for On-Lending to Micro-, Small Enterprises; Low-Income Households in Rural Serbia

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will loan EUR 5 million (USD 5.4 million) to Opportunity Bank Serbia (OBS), a branch of US-based microfinance network Opportunity International, to improve access to finance for micro -and small enterprises (MSEs) and low-income households in rural areas of Serbia. Continue reading

MICROCAPITAL BRIEF: Livelihoods and Food Security Trust Fund (LIFT) Donates $4.5m to World Vision Myanmar for Microfinance Lending, Savings

The Livelihoods and Food Security Trust Fund, a Myanmar-based multi-donor trust fund, recently has donated a three-year USD 4.5 million grant to three organizations affiliated with US-based NGO World Vision, to aid approximately 100,000 people in gaining improved access to financial services. Continue reading

MICROCAPITAL BRIEF: India’s SKS Microfinance Seeks to Go Paperless with IBM MobileFirst Tablet System

SKS Microfinance Limited, a for-profit microfinance institution (MFI) headquartered in Hyderabad, India, recently partnered with IBM MobileFirst, the mobile division of US-based information technology company International Business Machines (IBM), in an effort to improve staff productivity in acquiring customers, completing loan disbursements and collecting repayments [1][2]. Continue reading