Switzerland’s responsAbility Social Investments AG (responsAbility) recently reported to MicroCapital that it has made loans amounting to USD 4 million to Cambodian financial institutions ACLEDA Bank and Hattha Kaksekar Limited (HKL). Continue Reading »

The Reserve Bank of India (RBI), India’s central banking authority, has refused to give a special exemption to commercial banks, that include HDFC Bank, Corporation Bank and Axis Bank, to restructure loans outstanding to microfinance providers BASIX Group and Sharada’s Women’s Association for Weaker Section (SWAWS) Credit Corporation India Private Limited under a classification other than as non-performing assets [1] [2]. Continue Reading »

Reserve Bank of India (RBI) Deputy Governor Mr H R Khan has announced that Indian microfinance institutions (MFIs) will now be allowed to execute external commercial borrowings (ECB)–those that are raised from outside India–of up to USD 10 million per financial year, twice as much as was previously allowed [1]. Such funds must be “utilised for lending to self-help groups or for micro-credit or for bonafide micro finance activity including capacity building.” [2] The change is intended to address liquidity issues in the industry [1]. Continue Reading »

Nokia Corporation, a Finnish telecommunications company, has launched Nokia Money, an electronic-wallet service, in an effort to promote financial inclusion of previously “underbanked” people across India [1]. Continue Reading »

Bangko Sentral ng Pilipinas (BSP), the Philippine central bank, has issued licenses to two rural banks, Bangko Mabuhay and Mallig Plains Rural Bank Incorporated, allowing them to provide microinsurance services [1]. Continue Reading »

BPI Globe BanKo, a mobile-based savings bank affiliated with the Bank of the Philippine Islands (BPI), reportedly has extended PHP 2 billion (USD 45.3 million) in loans to unspecified Philippine microfinance institutions. Continue Reading »

Gramalaya, an Indian nongovernmental organization (NGO), has launched a new microfinance institution (MFI), Gramalaya Microfin Foundation (GMF) that aims to “eradicate poverty through livelihood promotion activities through increased access to financial services” [1]. Continue Reading »

Nobel laureate Dr Muhammad Yunus reportedly has sought a review of the court decision that upheld his removal from his position as managing director of Bangladeshi microfinance institution (MFI) Grameen Bank. Continue Reading »

The State Bank of Pakistan (SBP), Pakistan’s central bank, recently announced that it has developed a detailed strategy to promote the sustainable growth of microfinance as outlined in its “Microfinance Strategic Framework 2011-2015” that is intended to “foster a pro-poor and sustainable development of the country” [1]. Continue Reading »

The Krung Thai Bank Public Company Limited (KTB), a government-owned commercial bank in Thailand, recently announced that it has initiated microfinance operations by providing loans to lower-income people that do not have regular salaries [1]. Continue Reading »

Grameen-Jameel, a joint venture of the US-based Grameen Foundation and the UK-based Abdul Latif Jameel Foundation, recently announced in its first “partners’ meeting” that it has reached 1.5 million clients through its partner microfinance institutions (MFIs) [1]. Continue Reading »

Elena Bridgers, a social researcher based in France, recently authored an article on the website of the US-based Stanford Social Innovation Review exploring the shift of microfinance institutions (MFIs) in India from a primarily “female client base” to a more “gender-balanced portfolio” [1]. Continue Reading »

Asasah, a microfinance institution (MFI) in Pakistan, reportedly has announced that it will be utilizing Easypaisa, the branchless banking service of MFI Tameer Microfinance Bank Limited (TMFB) of Pakistan, as an option for borrowers to repay their loans [1]. Continue Reading »

“AMT Directory of Microfinance Investors,” published by the African Microfinance Transparency Forum (AMT), November 2011, available for a fee through info@amt-forum.org, preview available at: http://www.amt-forum.org/fileadmin/media_amt/publications/AMT_Directory_…

Luxembourg-based nonprofit African Microfinance Transparency Forum (AMT) recently published the third edition of its directory of microfinance investors, which is updated every two years to facilitate relationships between African microfinance institutions (MFIs) and investors active in Africa. Continue Reading »

The Prime Minister of Vietnam recently approved a National Microfinance Strategy, which aims to develop a safe and sustainable microfinance system to ensure social welfare and sustainable poverty eradication in the country Continue Reading »

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and the Microfinance Institutions Network (MFIN), a self-regulatory organization of Indian microfinance institutions, are working together to encourage microfinance institutions to start reporting to the country’s Credit Information Bureau, which is intended to promote responsible lending. Continue Reading »

“Group lending or individual lending? Evidence from a randomised field experiment in Mongolia” by Orazio Attanasio, Britta Augsburg, Ralph De Haas, Emla Fitzsimons, Heike Harmgart; published by the European Bank for Reconstruction and Development (EBRD); December 2011; 48 pages; available at: http://www.ebrd.com/downloads/research/economics/workingpapers/wp0136.pdf… Continue Reading »