Category: Middle East

MICROCAPITAL BRIEF: Green for Growth Fund, Southeast Europe (GGF) Lends $20m to Yapi Kredi Leasing of Turkey to Support Use of Energy-Efficient Equipment

The Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources in Southeast Europe, has loaned EUR 15 million (USD 19.9 million) to Yapi Kredi Leasing, a Turkey-based subsidiary of Turkey’s Yapi Kredi Bank, with the aim of expanding Yapi Kredi’s “sustainable long-term energy efficient equipment financing.” Continue reading

Share

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Likely to Loan $150m in Jordan Including to Bank Al Etihad, Cairo Amman Bank for On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is considering setting up a senior unsecured credit facility in the amount of USD 150 million for banks in Jordan for on-lending to micro-, small and medium-sized enterprises (MSMEs). Continue reading

Share

MICROFINANCE EVENT: AlHuda Center of Islamic Banking and Economics to Host 4th Global Islamic Microfinance Forum, November 1-4, 2014, Dubai, UAE

Event Name: 4th Global Islamic Microfinance Forum

Event Date: Conference: November 1-2, 2014; Post-conference workshop: November 3-4, 2014

Event Location: Dubai, United Arab Emirates  Continue reading

Share

MICROFINANCE PUBLICATION ROUND-UP: Effects of Female Leadership on Microfinance Institutions (MFIs); Impact of Microcredit in Morocco; Social Performance Management Guide

Female Leadership, Performance, and Governance in Microfinance Institutions;” by Reidar Øystein Strøm, Bert D’Espallier and Roy Mersland; published by Elsevier; 2014; 16 pages; available for purchase at http://www.sciencedirect.com/science/article/pii/S0378426614000284

This report examines the relationship between the performance of microfinance institutions (MFIs) and whether women occupy high management positions, including CEO, chair or director, in those MFIs. Continue reading

Share

MICROFINANCE PUBLICATION ROUND-UP: Microfinance “Banana Skins” Risk Assessment; Effects of Microloans from Compartamos in Mexico; Youth Financial Inclusion Video

“Microfinance Banana Skins 2014: Facing Reality;” published by Centre for the Study of Financial Innovation; July 2014; 84 pages; available athttp://csfi.org/files/Microfinance_Banana_Skins_2014_-_WEB.pdf

This report, which is based on data collected by surveying 306 people associated with the microfinance industry, examines 19 risks faced by microfinance institutions (MFIs) across the globe. Continue reading

Share

MICROCAPITAL BRIEF: Biniog Sathi Banking Model Employs Islamic Concept of Zakat in Effort to Minimize Credit Default

Mabroor Mahmood, who operates the online “Ideas for Development” think tank, recently began selling his Biniog Sathi banking model, which incorporates Zakat, a Muslim practice of giving charity, to protect against credit default [1]. Continue reading

Share

MICROCAPITAL BRIEF: “Harry Potter” Cinema Actress Emma Watson to Serve as Goodwill Ambassador for United Nations (UN) Women

United Nations (UN) Women, the UN organization “dedicated to gender equality and the empowerment of women,” has announced Emma Watson, a British actress, will serve as Goodwill Ambassador for the organization. Continue reading

Share

MICROCAPITAL BRIEF: Pakistan-based Microfinance Institution (MFI) Wasil Foundation Wins $100k Islamic Microfinance Challenge 2014

The Wasil Foundation (Wasil), a nonprofit that aims to alleviate poverty through enterprise development in Pakistan, has won the 2014 Islamic Microfinance Challenge, a competition that promotes Sharia-compliant microfinance products, which prohibit interest payments in keeping with Islamic practices. Continue reading

Share

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Commits $15m to Private Equity Fund EuroMena III to Support Small, Medium-sized Enterprises (SMEs) in Middle East, North Africa

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly has committed USD 15 million to EuroMena III, a 7-year closed-end private equity fund that aims to invest in small and medium-sized enterprises (SMEs) in Egypt, Lebanon and Jordan. Continue reading

Share

MICROCAPITAL PUBLICATION ROUND-UP: Microcredit Summit Campaign Report; responsAbility Financial, Social Impact Assessment; Microinsurance Education in Zambia

“Resilience: The State of the Microcredit Summit Campaign Report, 2014;” published by RESULTS Educational Fund; 2014; 68 pages; available in web format at http://stateofthecampaign.org/2014-report-executive-summary/or for purchase as a PDF or in print form at http://www.scribd.com/doc/229959504/Resilience-The-State-of-the-Microcredit-Summit-Campaign-Report-2014

This report examines the reach and effectiveness of microfinance institutions (MFIs) on a global scale using data as recent as from 2012. Continue reading

Share

MICROCAPITAL BRIEF: Egypt Approves Microfinance Law in Effort to Expand Access to Microcredit, Bring Microenterprises into Formal Economy

The government of Egypt reportedly has approved a new law that will expand informal businesses’ access to loans of up to EGP 100,000 (USD 13,985) by enabling non-bank microfinance institutions (MFIs) to enter the formal microfinance sector, which had been restricted to banks and NGOs. Continue reading

Share

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $2m to Cambodian Angkor Mikroheranhvatho Kampuchea; Invests $546k in Equity in Palestinian Arab Center for Agricultural Development

The Luxembourg-based Grameen Credit Agricole Microfinance Foundation (GCAMF), which provides financial services to “social businesses,” recently informed MicroCapital that it has provided a three-year loan of EUR 1.5 million (USD 2.05 million) to Angkor Mikroheranhvatho Kampuchea Company Limited (AMK), a microfinance institution located in Cambodia. Continue reading

Share

MICROFINANCE PUBLICATION ROUND-UP: Islamic Social Finance, Transforming Client Complaints into Loyalty, Microinsurance Profitability

“Islamic Social Finance Report 2014,” by Thomson Reuters and the Islamic Research and Training Institute, published by Zawya, 2014, 64 pages, available at: http://www.zawya.com/islamic-finance/isfr/

This report examines opportunities and challenges for Islamic social finance in Bangladesh, Brunei Darussalam, India, Indonesia, Malaysia, Pakistan and Singapore. Continue reading

Share

MICROCAPITAL BRIEF: Global Systems for Mobile Association Assists 9 Cellular Network Providers in Africa, Middle East With Mobile Money Interoperability

Global Systems for Mobile Association, a UK-based association of mobile operators and associated companies, reportedly is helping coordinate the deployment of mobile money services for nine mobile network providers operating in Africa and the Middle East. Continue reading

Share

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $26m to Yapi Kredi of Turkey to Support Leasing to Micro-, Small, Medium-sized Enterprises (MSMEs)

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), has disbursed a senior loan of EUR 20 million (USD 26.4 million) to Yapi Kredi Leasing, a financial institution that is majority-owned by Turkish commercial bank Yapi Kredi, to support its leasing services for micro-, small and medium-sized enterprises (MSMEs). Continue reading

Share

MICROCAPITAL BRIEF: AlHuda Centre of Islamic Banking and Economics (CIBE) to Provide Training, Capacity Building Services to Organization of Islamic Cooperation (OIC) Member Countries

AlHuda Centre of Islamic Banking and Economics (CIBE), a Pakistan-based NGO that promotes Islamic banking, and the Statistical, Economic and Social Research & Training Centre for Islamic Countries (SESRIC), a subsidiary of the Turkey-based Organization of Islamic Cooperation (OIC), have signed a memorandum of understanding to provide training and capacity building services to the central banks of the 57 member countries of OIC. Continue reading

Share

MICROCAPITAL BRIEF: European Union, European Bank for Reconstruction and Development (EBRD) Support 100 Small, Medium-sized Enterprises (SMEs) in Egypt

The European Union and the Small Business Support program of the European Bank for Reconstruction and Development (EBRD), a UK-based financial institution, recently held an event in the Egyptian city of Alexandria to highlight their support for approximately 100 small and medium-sized enterprises (SMEs). Continue reading

Share