The National Insurance Commission (NIC) of Ghana, the regulatory authority for the country’s insurance industry, reportedly has announced a goal to increase penetration of the microinsurance market from the current 1 percent of the population to ten percent within three years. Continue Reading »

“Diamonds No Longer Forever;” by Scott Gaul; published by Microfinance Information Exchange (MIX); April 2012; available at: http://www.themix.org/publications/microbanking-bulletin/2012/04/diamonds-no-longer-forever Continue Reading »

The Microcredit Regulatory Authority (MRA), the supervisor of NGO microfinance institutions (MFIs) in Bangladesh, reportedly has advised MFIs to obtain permission by June 30 for sertvices offered other than microcredit. Continue Reading »

The People’s Bank of China (PBOC), China’s central banking authority, reportedly has announced a pilot program in the city ofLishuito encourage the establishment of village banks, microcredit firms and rural credit cooperatives to expand financial services for villagers and increase agricultural production. Continue Reading »

The Microcredit Regulatory Authority (MRA) of Bangladesh reportedly has announced that plans are in place to appoint administrators to observe troubled microfinance institutions (MFIs) in the country. Continue Reading »

The Central Bank of Nigeria (CBN), Nigeria’s central banking authority, reportedly has asserted that its Micro-, Small and Medium Enterprises Development fund, which is due to be launched in June, is designed for capacity building and not to bail out distressed microfinance banks (MFBs). Continue Reading »

The Boma Project, a nonprofit organization in northern Kenya that aims to improve the ability of women to earn their own incomes, recently has become the first African organization to be certified by Grameen Foundation, a US-based nonprofit, on the Progress out of Poverty Index (PPI) Advanced Standards of Use. Continue Reading »

The Union Cabinet of India, a decision-making body of the executive branch of the government of India, reportedly has approved a bill proposing that all microfinance institutions (MFIs) register with the Reserve Bank of India (RBI) and maintain a minimum of funds equal to INR 5 lakh (USD 9,270). Continue Reading »

The Bank of Ghana (BoG), Ghana’s central bank authority, reportedly is expected to halt the operations of four unlicensed microfinance institutions (MFIs): MEDLORM Microfinance Limited, African Guarantee Trust, Abbey Cash Microfinance Limited and Swift Financial Services. Continue Reading »

The Bangladeshi government reportedly intends to investigate the financial transactions of nongovernment organizations (NGOs) and microcredit entities operating in the country “to unearth any kind of money laundering.” Continue Reading »

“Designing Disclosure Regimes for Responsible Financial Inclusion,” by Jennifer Chien; published by CGAP (Consultative Group to Assist the Poor); March 2012; 23 pages; available at:
http://www.cgap.org/gm/document-1.9.57109/FN_78.pdf Continue Reading »

Deputy Governor Anand Sinha of the Reserve Bank of India (RBI), India’s central banking authority, reportedly announced in a budget speech that RBI does not support allowing microfinance institutions (MFIs) to take deposits from clients. Continue Reading »

Ghana’s National Insurance Commission (NIC), the regulatory authority for the country’s insurance industry, reportedly has announced that a new national insurance law incorporating microinsurance will be passed sometime during 2012. Continue Reading »

Event Name: Financial Inclusion: What Really Works for Clients

Event Date: April 25, 2012, 10:00 GMT (in French) and 4:30 GMT (in English); April 26, 2012, 4:00 GMT (in English) and 10:00 GMT (in English)

Event Location: Online Continue Reading »

The Selangor state government of Malaysia reportedly has allocated MYR 5 million (USD 1.63 million) for a microcredit scheme for rural women – also known as WALA – that is intended to supplement their household incomes. Continue Reading »

Financial Sector Deepening (FSD) Kenya, a trust fund that seeks to develop the capacity of the financial services industry in Kenya, recently released the results of a study on the effects of regulations imposed by the Central Bank of Kenya (CBK), the country’s central banking authority, on licensed microfinance institutions (MFIs) that aim to convert into deposit-taking institutions. Continue Reading »

The Philippine Prudential Life Insurance Company, a Philippines-based financial services provider, reportedly announced that its payments for microinsurance claims have increased by 784 percent from PHP 2.49 million (USD 58,400) in 2010 to PHP 22 million (USD 516,000) in 2011. Continue Reading »

The Central Bank of Nigeria (CBN), Nigeria’s central banking authority, reportedly has ordered all banks in Nigeria “to allow new customers to open account with zero amount to attract more people into the banking system.” Continue Reading »