The People’s Bank of China (PBOC), the central bank of China, has announced plans to legalize private lending and remove a cap on interest rates charged by microfinance institutions (MFIs). Continue Reading »

The Microfinance Information Exchange (MIX), the microfinance information clearinghouse, recently released its third annual ranking of microfinance institutions (MFIs), The Mix Global 100. Continue Reading »

India’s Microfinance Institutions Network (MFIN), a self-regulatory organization of 31 of India’s largest microfinance companies, recently said its members will provide borrowers’ names, addresses and loan details to a credit bureau they have created, Alpha Micro Finance Consultants P Ltd (Alpha), in an effort to prevent client overindebtedness and maximize repayment. Continue Reading »

The government of the Malaysian state Selangor recently announced that it would set up a microfinance program in an attempt belp low-income residents increase their earnings. Continue Reading »

Janalakshmi Financial Services (JFS), a microfinance institution (MFI) located in India, has raised INR 45.8 crore, the equivalent of over USD 10 million, in a second round of funding. Continue Reading »

SKS Microfinance Limited, a microfinance institution (MFI) based in India, is expected to file for an initial public offering (IPO) in the next three to four weeks, according to three sources that news provider, Reuters, does not name. Continue Reading »

Standard Chartered, an international commercial bank headquartered in London, has provided an IDR 15 billion loan, the equivalent of over USD 1.6 million, to Mitra Bisnis Keluarga Ventura (MBK), a microfinance institution (MFI) located in Indonesia. Continue Reading »

ACCION International, a nonprofit organization with partner microfinance institutions (MFIs) in over 20 countries, has announced the inauguration of ACCION Microcredit China (AMC), an MFI located in Chifeng Prefecture, Inner Mongolia, China. Continue Reading »

A study conducted by the Economist Intelligence Unit (EIU), the business information arm of The Economist Group, the producer of The Economist weekly magazine, has ranked the Philippines as first in the world in terms of its microfinance regulatory framework and third in the world in terms of its microfinance business environment, following Peru and Bolivia. Continue Reading »

In an attempt to increase transparency for microfinance stakeholders, the Pakistan Microfinance Network (PMN) has developed two benchmarking software applications, Pakistan Microfinance Review (PMR) software and Microfinance Connect. Continue Reading »

India’s National Bank of Agriculture and Rural Development (NABARD) is seeking comments from stakeholders on a draft plan regarding regulation and development in the microfinance industry. Continue Reading »

Symbiotics SA Information, Consulting and Services Switzerland, a microfinance investment intermediary, and Triodos Investment Management, a group managing four microfinance funds, recently invested the equivalent of USD 14 million in LOLC Micro Credit Ltd. (LOMC), a Sri Lankan microfinance institution. Continue Reading »

The Asian Development Bank (ADB), a multilateral development bank, will provide a USD 50 million loan to the state-owned Small Industries Development Bank of India (SIDBI) for lending to micro, small and medium-sized enterprises (MSMEs) and a partial credit guarantee of up to USD 250 million for ADB’s Micro, Small and Medium Enterprise (MSME) Development Project, which will allow public sector commercial banks to obtain medium- to long-term funds to on-lend to existing MSME clients in India. Continue Reading »

The Southern Sudan Microfinance Development Facility (SSMDF), a microfinance investment facility supported by the Ministry of Finance and Economic Planning, the Ministry of Commerce and Industry, and the Ministry of Agriculture and Forestry of the Government of Southern Sudan, will provide funding of SDG 214,290, the equivalent of USD 92,565, to the Rural Finance Initiative (RUFI), a microfinance institution (MFI) located in Southern Sudan, over a period of three years. Continue Reading »

The Reserve Bank of India (RBI), India’s central bank, has warned that microfinance institutions (MFIs) will be taken off the priority sector lending list if the industry does not improve its governance standards. Continue Reading »

The government of Indonesia has added 13 existing banks to the Association of Regional Development Banks (Asbanda) to distribute microcredit across the country. Continue Reading »

SKS Microfinance, a microfinance institution in India, recently raised INR 100 crore (the equivalent of USD 21 million) by issuing INR 50 crore (the equivalent of USD 10.5 million) worth of non-convertible debentures to Bajaj Allianz Life Insurance Company, an Indian life insurance provider, and INR 50 crore worth of commercial paper to Religare Asset Management Company, a mutual fund. Continue Reading »

A recent article in US-based Newsweek magazine entitled ‘Big Crisis, Small Help’ examines the importance of microfinance institutions (MFIs) in mitigating crises in post-disaster environments. Continue Reading »