Category: Regulation

MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN) Releases Categorization System for “Non-interest Islamic Microfinance Banks”

The Central Bank of Nigeria (CBN), the country’s central banking authority, recently released a new categorization system for “Non-Interest Islamic Microfinance Banks” (NIMFBs). Such institutions operate under Islamic principles that prohibit charging interest, instead using arrangements such as the sharing of profit and loss. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN) Releases Categorization System for “Non-interest Islamic Microfinance Banks” Posted in Africa, Regulation

MICROCAPITAL BRIEF: Tanzania Launches Mobile Money Monitoring (M3) Platform, Regulates Mobile Money Transactions

The Tanzania Communications Regulatory Authority (TCRA) recently launched a Mobile Money Monitoring (M3) platform, a technology-enabled tool that monitors mobile money services in Tanzania. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Tanzania Launches Mobile Money Monitoring (M3) Platform, Regulates Mobile Money Transactions Posted in Africa, Regulation, Technology

MICROCAPITAL BRIEF: Bâtisseur de Richesse (BR SARL) Among 50 Microfinance Institutions Closed in Gabon, David Mapakou Arrested For Alleged Savings Fraud

The Ministry of Economy of Gabon recently froze the activities of 50 microfinance institutions that lacked  approval to offer microfinance services. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Flexible Microloan Repayment Schedules in Bangladesh; Merchant Acceptance of Digital Payments in Developing Countries; Global Standard-setting Bodies and Financial Inclusion

“Cost-Benefit Analysis of Traditional Versus Flexible Microfinance in Bangladesh;” by S. Bairagi, W. Bin Shadat; published by the Copenhagen Consensus Center; May 2016;  32 pages; available at: http://www.copenhagenconsensus.com/sites/default/files/bin_shadat_microfinance.pdf Continue reading

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MICROFINANCE PAPER WRAP-UP: Guidance on the Application of the Core Principles for Effective Banking Supervision to Institutions Relevant to Financial Inclusion, published by the Basel Committee

“Guidance on the Application of the Core Principles for Effective Banking Supervision to the Regulation and Supervision of Institutions Relevant to Financial Inclusion”, published by the Basel Committee on Banking Supervision, December 2015, 55 pages, available at http://www.bis.org/bcbs/publ/d351.pdf Continue reading

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MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Provides Microfinance Label to GLS Alternative Investments-Mikrofinanzfonds (GLSMIKA), Renews Labels for 14 Investment Funds

The Luxembourg Fund Labeling Agency (LuxFLAG), a Luxembourg-based nonprofit organization that certifies the operations of investment vehicles that support microfinance and environmental initiatives, recently announced it granted its Microfinance Label for the first time. The fund is promoted by German bank Gemeinschaftsbank für Leihen und Schenken (GLS).  Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Trends in International Funding for Financial Inclusion; Inclusive Finance in India; Financial Regulation for Inclusion and Development in Latin America

“Current Trends in International Funding for Financial Inclusion;” by M. Soursourian, E. Dashi and E. Dokle; published by CGAP (Consultative Group to Assist the Poor); December 2015; 4 pages; available at: http://www.cgap.org/sites/default/files/Brief-Current-Trends-in-International-Funding-Dec-2015.pdf Continue reading

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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

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MICROCAPITAL BRIEF: Nepal Rastra Bank Requires Microfinance Institutions (MFIs) to Create Client Protection Fund

Nepal Rastra Bank (NRB), the country’s central bank, recently announced that it is requiring microfinance institutions (MFIs) in the country to establish a “Client Protection Fund”[1] to which they must deposit 1 percent of their annual net profit. Continue reading

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MICROCAPITAL BRIEF: United Nations Development Program (UNDP); United Nations Capital Development Fund (UNCDF) Support Bank of Sierra Leone in Launching Mobile Financial Services Guidelines

The Bank of Sierra Leone, the central bank of the country, has partnered with United Nations Development Program (UNDP), a member of the UN that invests knowledge and other resources into developing countries, and United Nations Capital Development Fund (UNCDF), a UN agency that works to increase access to microfinance and other forms of capital in developing countries, to launch the first mobile financial services guidelines in Sierra Leone [1]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: United Nations Development Program (UNDP); United Nations Capital Development Fund (UNCDF) Support Bank of Sierra Leone in Launching Mobile Financial Services Guidelines Posted in Africa, Mobile Money, Regulation, Transparency

MICROFINANCE PUBLICATION ROUND-UP: Islamic Banking and Growth; Sharia-Compliant Microfinance Products; Islamic Financial Services in Yemen

“Is Islamic Banking Good for Growth?”; by Patrick Imam and Kangni Kpodar; published by the International Monetary Fund; April 2015; 33 pages; available at: http://www.microfinancegateway.org/library/islamic-banking-good-growth

This paper analyzes the relationship between the development of Islamic banking and economic growth in low- and middle-income countries, finding that “countries where Islamic banking is present experience faster economic growth than others” [1]. Continue reading

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MICROCAPITAL BRIEF: Microcredit Regulatory Authority (MRA) of Bangladesh Regulates Fixed Assets of Microfinance Institutions (MFIs)

The Microcredit Regulatory Authority (MRA), a Bangladeshi government authority that oversees the operations of nongovernmental organization (NGO) microfinance institutions (MFIs), reportedly has regulated investments in fixed assets by microfinance institutions (MFIs) in the country. Continue reading

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MICROFINANCE EVENT: Microfinance Egypt Summit, March 23-24, 2016, Cairo, Egypt

Event Name: Microfinance Egypt Summit

Event Dates: March 23-24, 2016

Event Location: The Nile Ritz-Carlton Cairo, Egypt Continue reading

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MICROCAPITAL BRIEF: Reserve Bank India (RBI) Eases Microfinance Interest Rate Norm to Allow Cheaper Loans to Members of Scheduled Castes (SC) Earning Less than $2.50 Per Day

The Reserve Bank India (RBI), the nation’s central banking authority, has eased the maximum allowance of a variance of 4 percent between minimum and maximum interest rates on loans by microfinance institutions (MFIs) in order to encourage the provision of cheaper loans to those members of Scheduled Castes (SC), historically disadvantaged people in India, who earn less than double the international poverty line defined by the United Nations (UN) as USD 1.25 per day. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Legislation for Client Protection; Consumer Satisfaction in India; Women’s Financial Inclusion Data

“Client Protection Principles: Model Law and Commentary for Financial Consumer Protection;” published by the Microfinance CEO Working Group; April 2015; 66 pages; available at: http://microfinanceceoworkinggroup.org/wp-content/uploads/2015/04/CPP-Model-Laws-April-2015.pdf

This publication offers guidelines for creating legislation to protect low-income consumers of financial services. Continue reading

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MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Awards Small Finance Bank Licences to 10 Microfinance Institutions (MFIs)

The Reserve Bank of India (RBI), the central banking authority of the country, recently has given “in-principle approval”[1] of the requests for Small Finance Bank Licences of the following microfinance institutions (MFIs): Jaipur-based Au Financiers, Jalandhar-based Capital Local Area Bank, Ahmedabad-based Disha Microfin, Chennai-based Equitas, Chennai-based ESAF Microfinance and Investments, Bengaluru-based Janalakshmi Financial Services, Guwahati-based RGVN (North East) Microfinance, Chennai-based Suryoday, Bangalore-based Ujjivan and Varanasi-based Utkarsh. Continue reading

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MICROCAPITAL BRIEF: European Commission (EC) Launches EaSI-MicPro, a New Online Information on Microcredit Providers

The European Commission (EC), the executive body of the European Union (EU), recently launched EaSI-MicPro, a new online platform where microcredit providers can present information about their operations. Continue reading

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MICROFINANCE PAPER WRAP-UP: Symbiotics 2015 Microfinance Investment Vehicles (MIV) Survey Report: Market Data and Peer Group Analysis

“Symbiotics 2015 Microfinance Investment Vehicles (MIV) Survey Report: Market Data and Peer Group Analysis;” published by the Symbiotics Group; 2015; 45 pages; available at http://www.syminvest.com/papers/ed4710d3-cd20-4366-ad75-095f2b3adffe

Symbiotics, a Switzerland-based investment company that is “specialized in emerging, sustainable and inclusive finance,” recently published its ninth annual microfinance investment vehicles (MIVs) survey based on indicators reported by MIVs for 2014. Continue reading

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