The 5th International Microinsurance Conference wrapped up last week in Dakar, Senegal. The conference was organized by the Munich Re Foundation, the charitable arm of Germany-based insurance and reinsurance company Munich RE, and the Microinsurance Network. The Microinsurance Network is a member-based network providing a platform for information sharing and stakeholder coordination. Its central aim is to promote the development and proliferation of insurance products for low-income persons. The conference was held to discuss trends and recent developments in cost-effective insurance for the poor, with particular focus on health microinsurance (HMI) [1]. Continue Reading »

The Global Forum on Remittances, co-hosted by the International Fund for Agricultural Development (IFAD) and the African Development Bank (AfDB), recently concluded in Tunis on October 23, 2009. 200 participants involved in remittances attended the forum. The discussion was focused on issues related to workers living abroad who wished to send money back to their families in Africa [1]. Continue Reading »

The Financial Express, a web-based Indian financial news source, said that from January to October of 2009, the Indian microfinance sector has seen a significant growth in private equity (PE) investments. In that time period, eleven PE deals worth USD 143 million were carried out, compared to eight deals worth USD 61 million in the previous year. According to the article, the Indian microfinance sector’s compound annual growth rate (CAGR) has reached 105% [1]. Continue Reading »

SKS Microfinance, an Indian non-banking microfinance institution (MFI), recently announced plans to expand its network into Punjab, India. Mr. Rao, COO of SKS Microfinance said “Punjab has approximately 2 [million] people living Below Poverty Line, with a credit demand of Rs 1,168 crore [USD 2.5 million]” [1]. According to a previous statement released by SKS, its expansion into Punjab will take place primarily in urban areas [2]. Continue Reading »

A recent statement released by the International Association of Insurance Supervisors (IAIS) announced the launch of the Access to Insurance Initiative (A2II). The initiative will be launched by IAIS, in association with the Consultative Group to Assist the Poor (CGAP), World Bank, the International Labour Organization (ILO), FinMark Trust, and the German Federal Ministry of Economic Cooperation and Development (BMZ) [1]. Continue Reading »

Event Name: MicroFinance Network Annual Conference

Event Date: October 29- October 31, 2009

Event Location: Hilton Hotel, Nairobi, Kenya

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events Continue Reading »

A recent press release announced that MFIs Grameen Koota of Bangalore, India and Enda Inter-Arabe of Tunis, Tunisia are working with consultants recommend Enterprise Resource Planning (ERP) solutions to these MFIs [1]. ERP refers to the integration of an organization’s data and processes into one single system [2]. This process is meant to help the MFIs integrate better with Mifos, an open source information platform. Continue Reading »

Central Bank of Nigeria (CBN) governor, Mallam Lamido Sanusi, said recently, while speaking in a meeting at corporate headquarters, that the supervision of the 800+ microfinance banks (MFBs) in Nigeria may be outsourced. Continue Reading »

Narinjara News, an internet news service run by democratic activists from Arkan State, Burma, reported plans of Burmese Military Authorities to launch the first microfinance program in Maungdaw, the westernmost part of Myanmar, Burma [1]. According to a past MicroCapital story, extensive lending in Myanmar has been limited, likely because of the region’s “unfavourable political environment stemming from the country’s military dictatorship” [2]. Continue Reading »

Written by Micol Pistelli, Manager of Social Performance at MIX for Workshop 8 at the IDB Foromic 2009 (Inter-American Forum on Microfinance) in Arequipa, Peru. Published October 2009 by the MIX, 2 pages, available at: http://www.themix.org/publications/executive-summary-social-performance-standards-presentation-2009 Continue Reading »

The Center for Agriculture and Rural Development (CARD) Inc. was established in December 1986 as a social development fund. In 1997, it became the first NGO to transform into a licensed rural bank. CARD was founded by Dr. Jaime Aristotle B. Alip, and organized by 15 rural development practitioners as a response to the growing poverty rate in Regions IV and V of the Philippines. Their vision was to establish a bank created for, and owned and managed by landless rural women. In 1989, a group-lending pilot was launched by CARD, based on the Grameen Bank’s methodology. A year later, CARD launched its credit arm, the Landless People’s Development Fund (LPDF) [1]. Continue Reading »

Written by Magdy Moussa, Senior Microfinance Advisor at PlaNet Finance for the Middle East and North African Region; published in January 2007 by the Consultative Group to Assist the Poor’s (CGAP) Microfinance Regulation and Supervision Resource Center; number 21 of The Essays on Regulation and Supervision series, 17 pages, available at:
http://www.microfinancegateway.org/gm/document1.9.27739/37060_file_Egypt_Moussa_Final_.pdf Continue Reading »

The Japan Fund for Poverty Reduction (JFPR), a grant facility established by the Japanese Government and the Asian Development Bank (ADB) to provide assistance to ADB’s low-income clients, will provide a USD 1.5 million grant to the Government of Vietnam to formalize the country’s microfinance sector [1]. Continue Reading »

A recent press release announced decisions on the part of the Egyptian government to draft a new legislation for the purpose of microfinance regulation in Egypt. The legislation is meant to provide a framework within which all microfinance institutions (MFIs) in Egypt can operate [1]. Continue Reading »

The Inter-American Development Bank (IDB), a development financial institution (DFI), has approved a USD 7 million loan for the Fondo Nacional de Vivienda Popular (National Fund for Housing a.k.a. FONAVIPO) in El Salvador. The program was established to assist low-income individuals and families in acquiring homes. The IDB has invested USD 70 million in housing for low income families in El Salvador since 2001 [1]. Continue Reading »

Written by Gen. Caleb Akandwanaho S.S., published on July 24, 2009 by the Ministry of State for Finance, Planning and Economic Development (MoFPED) as number 008 of MoFPED’s released documents, 8 pages, available at: http://www.finance.go.ug/docs/Introduction%20to%20Microfinance%20bklet.pdf. Continue Reading »

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Event Name: Transparent Pricing Initiative Training Workshop

Event Date: October 8, 2009

Event Location: Hotel Respublika, Baku, Azerbaijan

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events

Cost: Not yet disclosed Continue Reading »