Category: Middle East

MICROCAPITAL BRIEF: Microfinance Institution Alif Capital of Tajikistan Receives Banking License

Alif-Sarmoya (Alif Capital) Micro Credit Deposit Organization LLC recently has been approved by the National Bank of Tajikistan (NBT) to provide banking services in both hard currency and somoni, the currency of Tajikistan. Specifically, Alif Capital can now receive deposits, transfer money and conduct currency exchange operations. While the organization had been microlending, it is unclear whether Alif Capital was already providing any of these other services before the license was approved by NBT. Continue reading

Share
Written by Comments Off on MICROCAPITAL BRIEF: Microfinance Institution Alif Capital of Tajikistan Receives Banking License Posted in Middle East

MICROCAPITAL BRIEF: World Bank Group’s Azerbaijan-Central Asia Financial Markets Infrastructure Project III to Unify Credit Data to Support Lending Based on Movable Collateral in Tajikistan

The World Bank Group, a multilateral financial institution serving developing countries, has launched the “Azerbaijan-Central Asia Financial Markets Infrastructure Project III”, the third phase of a project which includes an effort to improve the efficiency of the credit reporting system in Tajikistan. Specifically, the new credit system will allow Tajikistan’s credit reporting providers to offer data through a combined platform, allowing lenders to analyze loan risks using credit histories gleaned from multiple credit bureaus at one time. The project, which is being carried out in cooperation with the National Bank of Tajikistan, the central bank of the country, and the government of Tajikistan, is meant to promote the use of movable assets as collateral for lending and also includes efforts to expand financial education. Continue reading

Share
Written by Comments Off on MICROCAPITAL BRIEF: World Bank Group’s Azerbaijan-Central Asia Financial Markets Infrastructure Project III to Unify Credit Data to Support Lending Based on Movable Collateral in Tajikistan Posted in Middle East

MICROFINANCE EVENT: Middle East Global Advisors (MEGA) to Host 2nd International Forum on Islamic Finance (IFIF), February 9-10, 2016, Khartoum, Sudan

Event Name: 2nd International Forum on Islamic Finance

Event Dates: February 9-10, 2016

Event Location: Al Salam Rotana Hotel, Khartoum, Sudan Continue reading

Share

MICROFINANCE PUBLICATION ROUND-UP: Islamic Banking and Growth; Sharia-Compliant Microfinance Products; Islamic Financial Services in Yemen

“Is Islamic Banking Good for Growth?”; by Patrick Imam and Kangni Kpodar; published by the International Monetary Fund; April 2015; 33 pages; available at: http://www.microfinancegateway.org/library/islamic-banking-good-growth

This paper analyzes the relationship between the development of Islamic banking and economic growth in low- and middle-income countries, finding that “countries where Islamic banking is present experience faster economic growth than others” [1]. Continue reading

Share

MICROCAPITAL BRIEF: Italy’s Banca Etica, Cassa Padana, Federcasse Partner with Palestinian Government, Offer Microcredit in West Bank

Banca Etica, an Italian cooperative bank; Cassa Padana, an Italian cooperative lender; and Federcasse, a network of cooperative credit banks in Italy, have partnered with the Palestinian Monetary Authority (PMA), a public institution that regulates the banking industry in the Palestinian territories, and the Palestinian National Authority’s Finance Ministry to launch a three-year microcredit program in the West Bank. Continue reading

Share
Written by Comments Off on MICROCAPITAL BRIEF: Italy’s Banca Etica, Cassa Padana, Federcasse Partner with Palestinian Government, Offer Microcredit in West Bank Posted in Deals, Middle East

MICROCAPITAL BRIEF: Oesterreichische Entwicklungsbank (OeEB) Invests $11m in Sanad Fund for MSME for Lending to Micro-, Small, Medium-sized Enterprises (MSMEs) in Middle East, North Africa

Oesterreichische Entwicklungsbank (OeEB), the development bank of Austria, has invested EUR 10 million (USD 10.7 million) in 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. Continue reading

Share
Written by Comments Off on MICROCAPITAL BRIEF: Oesterreichische Entwicklungsbank (OeEB) Invests $11m in Sanad Fund for MSME for Lending to Micro-, Small, Medium-sized Enterprises (MSMEs) in Middle East, North Africa Posted in Deals, Middle East

SPECIAL REPORT: e-MFP Announces Finalists for $112k Sixth European Microfinance Award in Post-Disaster, Post-Conflict Areas & Fragile States: Crédit Rural de Guinée of Guinea, First Microfinance Institution of Syria, Taytay Sa Kauswagan of the Philippines

The European Microfinance Platform (e-MFP), a Luxembourg-based network of approximately 120 microfinance individuals and organizations, has announced that there are three finalists for the Sixth European Microfinance Award, which is themed “Microfinance in Post-Disaster, Post-Conflict Areas & Fragile States” for 2015 [1]. Continue reading

Share

MICROCAPITAL BRIEF: Jordan’s Queen Noor, King Hussein Foundation Launch Sharia-Compliant Microfinance Institution Ethmar

Queen Noor of Jordan, the founder and chairperson of the King Hussein Foundation (KHF), recently announced the launch of Ethmar, a microfinance institution (MFI) that is compliant with Shariah, the Islamic legal system. Continue reading

Share
Written by Comments Off on MICROCAPITAL BRIEF: Jordan’s Queen Noor, King Hussein Foundation Launch Sharia-Compliant Microfinance Institution Ethmar Posted in 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 (SDGs) with 169 associated targets intended to eradicate poverty by the year 2030. Continue reading

Share

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

Share
Written by Comments Off on MICROFINANCE EVENT: Sanabel 2015 Conference: “Progress towards Financial Inclusion; Global Trends and Regional Initiatives”, October 20-21, 2015, Sharm El Sheikh, Egypt Posted in Events, Middle East

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

Share
Written by Comments Off on MICROCAPITAL BRIEF: Sanad, Attijari Leasing Partner to Increase Financing for Small, Medium-sized Enterprises (SMEs) in Tunisia Posted in Africa, Deals, Middle East

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

Share

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

Share

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Planning to Loan $60m to Bank Audi of Egypt for SMEs, Trade Finance

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, is planning to loan USD 60 million to Bank Audi Societe Anonyme Egyptienne (SAE), the Egyptian arm of Lebanon-based Bank Audi. Continue reading

Share
Written by Comments Off on MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Planning to Loan $60m to Bank Audi of Egypt for SMEs, Trade Finance Posted in Deals, Middle East

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

Share
Written by Comments Off on MICROCAPITAL BRIEF: Silatech Develops Crowdfunding Website Narwi for Shariah-Compliant Microfinance in Middle East, North Africa Posted in Africa, Middle East, Youth

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
Continue reading

Share

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

Share
Written by Comments Off on 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 Posted in Deals, Middle East

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

Share