The Central Bank of Yemen (CBY) is currently discussing drafting a law supporting the establishment of microfinance banks in the country, and encouraging existing banks to provide microcredit services under CBY’s control. Continue Reading »

The International Finance Corporation (IFC) has signed a partnership agreement with XacBank, one of Mongolia’s leading microfinance institutions. On January 16, 2008, the IFC invested USD 3 million for ten percent of XacBank’s outstanding shares and plans to invest a total of USD 15 million in the next three years. The IFC will have a representative seated on the Board of Directors to consult in the expansion of XacBank’s services throughout the region. Continue Reading »

Consultative Group to Assist the Poor (CGAP)  reported Triodos-Doen, a partnership between Triodos Bank of the Netherlands and the Doen Foundation, invested USD 1 million  in loans in Cambodian Entrepreneur Building (CEB) microfinance institution on December 12, 2007. Triodos-Doen has been a shareholder of CEB since 2006 when they initially invested USD 500,000 in equity followed by a USD 3 million loan.                      Continue Reading »

International Finance Corporation (IFC), a member of the World Bank Group, has signed a partnership agreement to take a 10 percent equity stake in WIZZIT Bank, a division of South African Bank of Athens Limited that specializes in banking services to the poor through mobile phones. Continue Reading »

ACLEDA Bank Plc. – Cambodia, the largest microfinance institution and the third largest bank in Cambodia, received a rating of B+/B from Standard and Poor’s, four levels below investment grade (Associated Press). This is the first Standard and Poor’s credit rating on a Cambodian financial institution. Continue Reading »