Category: Middle East

MICROCAPITAL BRIEF: United Nations Announces Goals of “2030 Agenda for Sustainable Development”

The United Nations recently released the final version of, “Transforming Our World: The 2030 Agenda for Sustainable Development,” highlighting 17 sustainable development goals with 169 associated targets intended to eradicate poverty by the year 2030. Continue reading

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MICROFINANCE EVENT: Sanabel 2015 Conference: “Progress towards Financial Inclusion; Global Trends and Regional Initiatives”, October 20-21, 2015, Sharm El Sheikh, Egypt

Event Name: Sanabel 2015 Conference: Progress towards Financial Inclusion; Global Trends and Regional Initiatives

Event Date: October 20-21, 2015

Event Location: Savoy Hotel, Sharm El Sheikh, Egypt

Participation: This event is open only to Sanabel members and scholarship recipients.

Summary of the event: Conference sessions will address regional trends, opportunities and alternative approaches to microfinance in Arab countries. Topics to be covered include (1) innovation and diversification of financial services; (2) how to enhance market penetration; (3) best practices for partnerships between the private and public sectors; and (4) increasing awareness of client protection while working towards financial inclusion [1]. Continue reading

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MICROCAPITAL BRIEF: Sanad, Attijari Leasing Partner to Increase Financing for Small, Medium-sized Enterprises (SMEs) in Tunisia

The Sanad Fund for MSME, a Luxembourg-based public-private partnership that provides medium- and long-term debt and equity financing in the Middle East and North Africa, and Attijari Leasing, a Tunisia-based subsidiary of Attijari Bank that provides leasing services, signed a senior loan agreement for USD 5 million to support micro-, small- and medium-sized enterprises (MSMEs) in Tunisia. Continue reading

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MICROCAPITAL BRIEF: Sanad, Bankmed Partner to Support Small, Medium-sized Enterprises (SMEs) in Lebanon

The Sanad Fund for MSME (micro-, small and medium-sized enterprise) (Sanad), a Luxembourg-based organization that provides “medium- and long-term”[1] debt and equity to financial institutions in the Middle East and North Africa region, has recently announced the disbursement of a loan of USD 15 million to Bankmed, a Lebanese commercial bank regulated by the Central Bank of Lebanon. Continue reading

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MICROCAPITAL BRIEF: Sanad Fund for MSME Donates $28k to Vitas for Microfinance Client Protection in Iraq, Lebanon, Palestinian Territories

The Luxembourg-based Sanad Fund for MSME (micro-, small and medium-sized enterprise) recently donated USD 28,000 to Vitas Group, a commercial holding company created by US-based, international nonprofit organization Global Communities, to train the staff of Vitas Group’s microfinance institutions in the Middle East on client protection. Continue reading

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MICROCAPITAL BRIEF: Silatech Develops Crowdfunding Website Narwi for Shariah-Compliant Microfinance in Middle East, North Africa

Silatech, a Qatar-based social enterprise aiming to increase employment and entrepreneurship among youth in the Middle East and North Africa, recently announced the development of Narwi, a nonprofit crowdfunding platform that will support microentrepreneurs via Islamic charitable giving. The platform is scheduled to be launched in late June 2015. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Morocco’s Microfinance Market; Trends in Funding Financial Inclusion; Growth Projections in Islamic Microfinance

“Ending the Microfinance Crisis in Morocco: Acting early, acting right;” published by the International Financial Corporation in partnership with the Canadian Department of Foreign Affairs, Trade, and Development; the Danish International Development Agency; Japan; Switzerland’s State Secretariat for Economic Affairs; and UKaid; October 2014; available at http://www.ifc.org/wps/wcm/connect/5e1e5a0047850bdba0d4f5299ede9589/IFC+Morocco+MicroFinance+Crisis+report.English.pdf?MOD=AJPERES
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MICROCAPITAL BRIEF: European Union (EU), European Bank for Reconstruction and Development (EBRD), Turkish Government to Provide $380m in Credit Lines for On-lending to Female Entrepreneurs in Northwest Turkey

The European Union (EU), the UK-based, multilateral European Bank for Reconstruction and Development (EBRD) and the Turkish government have partnered to introduce the Finance and Advice for Women in Business Programme in the northwest region of Turkey. Continue reading

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MICROCAPITAL BRIEF: C-Quadrat Asset Management’s Vision Microfinance Funds Issue $6m in Credits to Microfinance Institutions (MFIs) in Armenia, Colombia, Georgia, Mongolia, Nigeria, Tajikistan and Paraguay

During May 2015, Viennese asset manager C-Quadrat Asset Management USD 6 million worth of credits via the two Vision Microfinance funds to unspecified microfinance institutions (MFIs) in Armenia, Colombia, Georgia, Mongolia, Nigeria, Tajikistan and Paraguay. Of this total, C-Quadrat Asset Management invested USD 500,000 in the microfinance institution based in Ulaanbaatar, Mongolia. Founded in 2001, this institution targets micro-, small and medium-sized enterprises (MSMEs) and provides services to approximately 3,200 clients. Continue reading

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MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Seeks Partners for Customer-Centric Financial Services Project

CGAP (Consultative Group to Assist the Poor), a US-based nonprofit policy and research center devoted to worldwide growth of financial access, is searching for financial service providers with whom to partner to increase customer centricity within the providers’ systems. Continue reading

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MICROCAPITAL BRIEF: USAID-Funded Lebanon Investment in Microfinance (LIM) Program Establishes Microfinance Association

Lebanon’s Ministry of Interior and Municipalities officially has approved the establishment of a microfinance association, whose membership will consist of the following Lebanese microfinance institutions (MFIs): Association for the Development of Rural Capacities, Association d’Entraide Professionnelle, Al Majmoua, Entrepreneurial Development Foundation, Emkan, Ibdaai Lebanon, Makhzoumi Foundation and Vitas. Continue reading

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MICROCAPITAL BRIEF: $53k Giordano Dell’Amore Microfinance Best Practices International Award Applications Due April 19, 2015

Fondazione Giordano Dell’Amore, an Italian foundation that supports microfinance, has announced that it is accepting applications for its 2015 Giordano Dell’Amore Microfinance Best Practices International Award, which aims to increase the understanding of microfinance and promote the sharing of good practices among industry players. Continue reading

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MICROCAPITAL BRIEF: Bank al Etihad Borrowing $20m from European Bank for Reconstruction and Development (EBRD) for Micro, Small, Medium-Sized Enterprises (MSMEs) in Jordan

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, has agreed to open a credit line of USD 20 million for Bank al Etihad, a Jordanian provider of financial services to both large and small organizations, for on-lending to micro-, small and medium-sized enterprises (MSMEs). Continue reading

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MICROCAPITAL BRIEF: Social Performance Task Force, Smart Campaign Launch Responsible Microfinance Facility (RMF) for Training, Technical Assistance in the Middle East, Africa

The Social Performance Task Force, a US-based nonprofit charged with addressing questions about measuring and managing social performance, in collaboration with the Smart Campaign, a client-protection initiative of US-based nonprofit Accion, recently launched the Responsible Microfinance Facility (RMF), a three-year initiative funded by the French government’s Agence Francaise de Developpement (AFD)  to improve the capacity and performance of microfinance institutions in Africa and the Middle East. Continue reading

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