Speaking at a recent panel held by the Brookings Institution, a US-based nonprofit public policy organization, on “Growth Through Innovation in Africa: Mobile Financial Services and Financial Inclusion,” Maria Otero, US Under Secretary of State for Democracy and Global Affairs, argued that mobile money could substantially support financial inclusion efforts. Continue reading
Event Name: Luncheon Roundtable – “Enhancing Competitive E-Payment System in Nigeria”
Event Date: May 24, 2011
Event Location: Lagos, Nigeria
SKS Microfinance, an Indian microfinance institution (MFI), has filed a petition with the Supreme Court of India seeking a stay to prevent the enforcement of the Regulation of Microlending Act issued by the government of the Indian state of Andhra Pradesh. Continue reading
United Nations Development Program (UNDP), the United Nations’ global development network that seeks to connect countries to knowledge, experience and resources to help people build a better life, organized a session recently to discuss amendments to microfinance regulations in Uzbekistan. Continue reading
Microfinance Information Exchange (MIX), the US-based, nonprofit data provider, foresees a significant impact on microfinance institutions (MFIs) in India as a result of the regulations that were recently issued by the Reserve Bank of India, the country’s central banking authority, in response to the turmoil that has disrupted the microfinance sector since late 2010, particularly in the state of Andhra Pradesh. Continue reading
The Business Standard, an Indian financial newspaper, recently reported that the regulations recently issued for the microfinance sector by the Reserve Bank of India (RBI), India’s central banking authority, and the Regulation of Microlending act issued by the government of the state of Andhra Pradesh in 2010 are creating confusion over the regulatory jurisdiction of each entity. Continue reading
Mexican microfinance institutions (MFIs) Credito Real SA and Financiera Independencia SAB have reported gains in bond sales that are double those of the average of bank in Latin America .
The Indian rating agency Credit Rating and Information Services of India Limited (CRISIL) has announced that it expects, “Growth prospects for microfinance institutions (MFIs) will remain subdued over the medium term,” due to microfinance guidelines issued earlier this month by the Reserve Bank of India (RBI), the nation’s central banking authority. Continue reading
The CGAP Microfinance Blog, which is operated by US-based think tank CGAP (Consultative Group to Assist the Poor), recently posted an article by President Bindu Ananth of IFMR Trust, an affiliate of India’s nonprofit Institute for Financial Management and Research (IFMR), that argues the importance of “matching types of accounts to types of needs” based on several examples from India.
Vidhi Tambiah, CEO of Swiss nonprofit World Microfinance Forum Geneva, has been cited as saying that if Chinese finance officials were to improve the supply of information available to foreign investors, Chinese microfinance institutions (MFIs) could benefit from international funding . Continue reading
In an email interview published on the website of Indian newspaper Mint, Mary Ellen Iskenderian, President and CEO of Women’s World Banking (WWB), a US-based advisor to and network of microfinance institutions (MFIs), offered an assessment of the Indian microfinance sector and the potential results of new and proposed regulation. Continue reading
Having obtained formal consent for the project from the Corporate Affairs Commission (CAC), a Nigerian regulatory agency, the National Association of Microfinance Banks (NAMB), a trade group of 820 Nigerian microfinance institutions (MFIs), is expected to form a trust fund before the end of May to protect members from liquidity shocks. Continue reading
The CGAP Microfinance Blog, which is operated by US-based think tank CGAP (Consultative Group to Assist the Poor), recently posted an article by Mohammed Khaled, CGAP representative for the Middle East-North Africa Region, that explores the impact of the recent leadership change in Tunisia on microfinance regulation in the country. Continue reading
Bangladesh’s Supreme Court has dismissed Dr Muhammad Yunus’ final bid to overturn the Bangladesh High Court’s ruling upholding the effort of the Bangladesh Bank (BB), the central bank of Bangladesh, to remove Dr Yunus from his position as managing director of Grameen Bank   .
Event Name: 5th Asian Conference on Microinsurance
Event Date: July 11 – July 12, 2011
Event Location: Jakarta, Indonesia Continue reading
Planet Rating, a microfinance rating agency and member of the France-based PlaNet Finance Group, has been recognized by Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, as a microfinance institution (MFI) rating agency. This recognition follows the company’s establishment of a regional office in Manila in 2009. Continue reading
As part of a series on branchless banking around the world, a post was recently published on the CGAP Technology Blog, a website operated by US-based think tank CGAP (Consultative Group to Assist the Poor), covering regulatory developments in the Mexican microfinance sector. Continue reading