Regulation | MicroCapital - Page 2
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Tuesday, October 29, 2013

MICROFINANCE PUBLICATION ROUND-UP: Lessons Learned from Morocco’s Microcredit Crisis; Using Microinsurance to Promote Universal Coverage; Remittances and Post-Conflict Economic Growth

“Lessons Learned from the Moroccan Crisis;” by Nadine Chehade and Alice Negre; published by CGAP (Consultative Group to Assist the Poor); 2013; 4 pages; available at http://www.cgap.org/sites/default/files/Brief-Lessons-Learned-from-the-Moroccan-Crisis-July-2013_0.pdf

This report presents the results of a study conducted by US-based NGO CGAP (Consultative Group to Assist the Poor) that explored the Moroccan microcredit downturn, focusing on outlining “lessons learned from the rise, fall, and ongoing recovery of the Moroccan microcredit sector that may be useful when adapted in other countries in similar situations.” Continue Reading »

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Monday, October 28, 2013

MICROCAPITAL BRIEF: Majority of Ghanaian Microfinance Institutions (MFIs) Allegedly Lack Operating Licenses, Bank of Ghana to Increase Surveillance

Ghanaian Radio XYZ Online, an online news publication, reportedly has discovered from an undisclosed source that of approximately 550 operating microfinance institutions (MFIs) in Ghana, only an estimated 200 are licensed. Continue Reading »

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Wednesday, October 23, 2013

MICROCAPITAL BRIEF: Financial Inclusion 2020 Announces Roadmap to Financial Inclusion, Highlights Importance of Technology

Financial Inclusion 2020 (FI2020), a campaign to extend financial inclusion to 2 billion people in developing countries by the year 2020, recently announced the findings of a survey of 300 financial sector practitioners on their perspectives about opportunities and challenges to FI2020′s goals. Continue Reading »

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Friday, October 18, 2013

MICROCAPITAL BRIEF: Kenya’s Credit Information Sharing (CIS) Mechanism Expanded to Deposit-Taking Microfinance Institutions, Savings and Credit Cooperative Societies, Expected to Lower Interest Rates

A Credit Information Sharing (CIS) feature that was implemented by Kenyan financial institutions in 2010 reportedly has been expanded to include deposit-taking microfinance institutions (DTMs) and savings and credit cooperative societies (SACCOS) in an effort to increase information sharing among financial institutions [1]. Continue Reading »

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Thursday, October 17, 2013

MICROCAPITAL BRIEF: South Africa’s Futuregrowth Asset Management to Curtail Investments in Microlenders Distributing “Unsecured” Loans

Futuregrowth Asset Management, a South-Africa based investment company, recently announced that it will curtail its investments in microlenders that advance “unsecure” loans without collateral, which allegedly often results in borrowers receiving loans that they are unable to repay [1]. Continue Reading »

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Wednesday, October 9, 2013

MICROCAPITAL BRIEF: Bangladeshi Grameen Bank to Be Placed Under Jurisdiction of Bangladesh Bank

The Bangladeshi government reportedly has decided to place the Grameen Bank, a Bangladeshi microfinance institution (MFI), under the direct control of the Bangladesh Bank, the country’s central bank, allegedly in order to “better monitor” the microcredit organization [1]. Continue Reading »

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Tuesday, October 8, 2013

MICROCAPITAL BRIEF: Indonesia’s Otoritas Jasa Keuangan to Regulate Microfinance Institutions Beginning in 2015

Otoritas Jasa Keuangan (OJK), an agency of the Indonesia government that regulates the financial services sector, has announced that it will take over the role of regulating microfinance institutions (MFIs) from Bank Indonesia, the central bank of Indonesia, in 2015. Continue Reading »

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Wednesday, September 25, 2013

MICROCAPITAL BRIEF: Bank of Ghana Increases Liquidity Requirement for Microfinance Financial Institutions

The Bank of Ghana, a regulatory and supervisory authority over banking and financial institutions in Ghana, recently increased the minimum capital requirements of microfinance institutions (MFIs) to GHS 300,000 (USD 138,000) for MFIs that do not accept deposits and GHS 500,000 (USD 230,000) for deposit-taking MFIs [1]. Continue Reading »

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Wednesday, September 25, 2013

MICROCAPITAL BRIEF: Bangladesh Bank Asks Commercial Banks to Provide Services to Readymade Garment (RMG) Workers

The Bangladesh Bank (BB), the country’s central bank, recently asked commercial banks to provide readymade garment (RMG) workers with bank accounts so they can receive wages through direct deposit. BB requested commercial banks not to require a minimum balance or charge for banking services. Continue Reading »

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Friday, September 13, 2013

MICROCAPITAL BRIEF: Association of Microfinance Institutions Plans to Appeal New Law “On Restriction of Usurious Activities in the Kyrgyz Republic”

Almazbek Atambayev, the President of the Kyrgyz Republic, reportedly has signed a law entitled “On Restriction of Usurious Activities in the Kyrgyz Republic” that establishes an interest rate cap on microloans. Continue Reading »

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Friday, September 6, 2013

MICROCAPITAL BRIEF: Central Bank of Nigeria Launches $1.3b Micro, Small and Medium Enterprises Development Fund

The Central Bank of Nigeria (CBN), the country’s central banking authority, reportedly has launched a NGN 220 billion (USD 1.3 billion) Micro, Small and Medium Enterprises (MSME) Development Fund, which is intended to offer loans to microfinance institutions (MFIs) at an interest rate of 9 percent or less per year [1]. Continue Reading »

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Monday, August 26, 2013

MICROCAPITAL BRIEF: Zimbabwe Microfinance Bill Would Seek to Benefit Small and Medium-Sized Enterprises (SMEs)

In July 2013, a bill to increase funding for small- and medium-sized enterprises (SMEs) was proposed in the Parliament of Zimbabwe. Continue Reading »

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Thursday, August 22, 2013

MICROCAPITAL BRIEF: Thirty Microfinance Institutions (MFIs) Close in Ghana

Approximately 30 unnamed microfinance institutions (MFIs) collapsed in Ghana during the first quarter of 2013 due to an alleged inability to “sustain their operations.” Continue Reading »

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Thursday, August 8, 2013

MICROCAPITAL BRIEF: World Council of Credit Unions Publishes Islamic Operations Manual for Shariah-compliant Credit Unions

The World Council of Credit Unions (WOCCU), a US-based association of credit union trade groups in 54 countries, recently published the “Islamic Finance Manual: Operating Policies and Procedures,” a guide that is intended to assist bankers with establishing Shariah-compliant credit unions in developing countries. The Shariah, which is alternatively referred to as “Islamic law,” prohibits interest payments and fees, so Islamic banking is centered instead on the concept of joint venture and profit sharing. The manual was developed by the Customer Owned Banking Association (COBA), an Australia-based member organization of WOCCU, based on COBA’s experience establishing Islamic investment and finance cooperatives in Afghanistan since 2004. Continue Reading »

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Tuesday, August 6, 2013

MICROCAPITAL BRIEF: Nepal Rastra Bank (NRB) Announces Regulations on Microfinance Institutions (MFIs) in Nepal to Increase Financial Inclusion of the Unbanked

The Nepal Rastra Bank (NRB), Nepal’s central banking authority, recently announced new regulations for microfinance institutions (MFIs) that aim to increase the financial inclusion of unbanked districts in the country. Continue Reading »

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Monday, August 5, 2013

MICROCAPITAL BRIEF: National Association of Microfinance Banks (NAMB), Central Bank of Nigeria (CBN) Propose Unified Software System for Microfinance Banks (MFB) in Nigeria

The National Association of Microfinance Banks (NAMB), a trade group of 820 microfinance banks (MFBs) in Nigeria, recently partnered with the Central Bank of Nigeria (CBN), the country’s main financial regulator, to propose a unified software system for all of NAMB’s member institutions. Continue Reading »

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Sunday, August 4, 2013

MICROCAPITAL BRIEF: World Bank Group (WBG) Announces “Financial Infrastructure Development Project” in Yemen; International Development Association (IDA) Provides Grant of $20m

The World Bank Group (WBG), a US-based development bank, recently announced a new initiative called the “Financial Infrastructure Development Project” that aims to improve the transparency and efficiency of Yemen’s financial system as well as increase the financial inclusion of low-income people in the country. Continue Reading »

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Friday, August 2, 2013

MICROCAPITAL BRIEF: 33 Microfinance Institutions Close Down in Cameroon

Thirty-three microfinance institutions (MFIs) have been forced to close down in Cameroon since 2012 due to reported “fraud” and disobedience of the “defined rules” of procedure [1]. Continue Reading »

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