MICROCAPITAL BRIEF: 3k Displaced Persons, Returnees, Hosts Access Loans, Guarantees, Business Training in Iraq

The UN’s International Labour Organization (ILO) and the Central Bank of Iraq have partnered with the Iraqi Company for Bank Guarantees and three commercial banks over the past two years to provide a range of services to forcibly displaced people, returning refugees and host communities in the Dohuk and Ninewa regions of Iraq. These services include

MICROCAPITAL BRIEF: JuST Institute Preview of Training on Delivering Climate, Biodiversity & Inclusive Finance to Smallholder Farmers Available Online December 12, 2023

The France-based NGO Just Sustainability Transitions (JuST) Institute is holding an online session December 12 to educate potential participants about a mentoring and training program for financial services providers (FSPs) looking to orient their work toward “climate adaptation and biodiversity conservation.” The program, which is for loan officers and managers employed by microfinance institutions (MFIs), takes place online over a period of four to six months. Participation can be part of an MFI becoming certified for

MICROCAPITAL BRIEF: Aflatoun, Fintech Robos to Collaborate on Financial Literacy in Middle East, North Africa

The Dutch NGO Aflatoun International and Bahrain-based financial advisory firm Fintech Robos recently agreed to collaborate on their efforts to expand financial literacy in the Middle East and North Africa (MENA). The partners plan to promote financial education through the development of “curriculum and training materials”

MICROFINANCE EVENT: Sanabel’s 16th Annual Conference; November 21-22, 2023; Dead Sea, Jordan – POSTPONED

Please note that this event has been postponed; new dates have not yet been announced. This event is centered on the effects of global trends on microfinance in Arab countries. Participants will discuss and build strategies on topics such as making microfinance less harmful to the environment, improving risk management, and expanding services to farmers as well as

MICROCAPITAL BRIEF: Money Fellows of Egypt Borrowing $2.2m from Symbiotics to Support Digital ROSCAs

Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle-income countries, recently issued a loan of USD 2.25 million to Egypt-based Money Fellows. Money Fellows plans to use the fresh capital to expand its digitization of rotating savings and credit associations (ROSCAs), also known as money circles, as well as to broaden

MICROCAPITAL BRIEF: Regulator Licenses ADIB Egypt to Open Shariah-compliant Subsidiary, ADI Microfinance 

The Egyptian unit of UAE-based Abu Dhabi Islamic Bank (ADIB) recently acquired a license from Egypt’s Financial Regulatory Authority to operate its subsidiary ADI Microfinance. The microfinance institution will offer

MICROFINANCE EVENT: 5th Global Takaful and Re-takaful Forum; September 19-21, 2023; Dubai, UAE

This event includes a one-day forum on September 19 followed by a two-day workshop on the historical, “operational and practical aspects” of takaful, re-takaful and micro-takaful, types of insurance that comply with Islamic law. The goals of these events are to

MICROCAPITAL BRIEF: Seedstars Accepting Applications from Fintechs Offering “Financial Innovations for Women Affected by Migration” Through July 30

Seedstars, a Switzerland-based investment and education firm, is accepting applications from financial technology (fintech) startups looking to scale up their services to women in Africa and Asia who have migrated from their homes or whose family members have done so. Seedstars is offering this support through its Financial Innovations for Women Affected by Migration (FIWAM) programme, which includes

MICROCAPITAL BRIEF: Elm of Saudi Arabia Partners with IrisGuard to Bring Biometric Identification to Government-to-person (G2P) Payments in Africa, Asia

IrisGuard, a UK-based payment processor that uses the iris of the human eye to identify recipients, recently partnered with Elm Company, an instrument of the Saudi Arabian government, to use biometric identification when distributing

MICROCAPITAL BRIEF: Axis Launches axisPay Mobile Money App for Small Businesses in Egypt

The Egypt-based firm axis recently launched its mobile banking app axisPay, after raising USD 8.25 million in seed funding in 2021. The app targets small enterprises and their employees, though a version for individual users is being tested. Among the app’s functions are to

MICROCAPITAL BRIEF: Sanad Fund for MSME Raises $26m from ASN Bank, Calvert Impact to Boost Financial Inclusion, Resilience in MENA

The Luxembourg-domiciled Sanad Fund for MSME recently agreed to borrow EUR 15 million (USD 16.5 million) from Algemene Spaarbank voor Nederland (ASN) Bank, a retail banking member of the Netherlands’ de Volksbank, and USD 10 million from the US-based NGO Calvert Impact Capital. Sanad intends to use the fresh funds to facilitate

MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Loans $3.2m to Faten for Microfinance in Palestine

The Luxembourg-based Grameen Crédit Agricole (GCA) Foundation recently disbursed a local-currency loan approximately equivalent to USD 3.2 million to the microfinance institution (MFI) Palestine for Credit and Development, which is also known by its Arabic name Faten. Founded in 1999 and based in Palestine’s West Bank, Faten is an NGO that seeks to

MICROCAPITAL BRIEF: Al Tadamun Circulating Mobile Branches to Boost Microfinance for Women in Egypt

Al Tadamun Microfinance Foundation of Egypt is launching three vehicles that will serve as mobile branches in the regions of Cairo, Dakhalia and Minya. Among the goals of the effort are to “contribute to the speed of disbursement of financing and reducing the cost of time and money incurred by the client in order to

MICROCAPITAL BRIEF: Purpl Launches Remittances, Digital Wallets in Lebanon; Partners with Banque Libano-Française, Paysend

Purpl, a financial technology (fintech) firm with offices in Lebanon and UAE, recently launched its app, which allows customers in Lebanon to use their phones to make electronic payments and receive money from individuals abroad. Through the firm’s partnership with UK-based Paysend, Purpl customers can receive payments from

MICROCAPITAL BRIEF: Arab Women Authority, National Bonds Partner on Financial Inclusion for Women in MENA

The Arab Women Authority, an NGO aimed at empowering Arab women in the Middle East and North Africa (MENA), recently entered into a strategic partnership with National Bonds, a UAE-based investment company owned by the government of Dubai, with the goal of enhancing women’s economic power. In particular, the entities plan

MICROFINANCE PAPER WRAP-UP: “Sustainable Finance in the MENA Region;” by Natalia Realpe Carrillo, Alexander Reviakin; Published by Sanad Fund for MSME Technical Assistance Facility, HEDERA Sustainable Solutions

This report examines the sustainable finance ecosystem in the Middle East and North Africa (MENA) region, including the capabilities of microfinance institutions (MFIs) in the region to contribute to climate change adaptation and mitigation. The objectives were

MICROFINANCE EVENT: 10th African Islamic Finance Summit; May 3, 2023; Serrekunda, The Gambia – NEW DATE

Originally scheduled to take place during February, this event is structured as a one-day summit followed by a two-day workshop, all focusing on Islamic finance, which refers to financial services that comply with Shariah principles, such as the use of profit sharing in lieu of charging interest. The event is themed “Evidence of Impact – Financial Inclusion,” with the first day’s session titles include Islamic Banking, Finance, FinTech [Financial Technology]

MICROFINANCE EVENT: Arab Savings & Financial Literacy Conference; October 9-11, 2023; Cairo, Egypt – NEW DATES

This event, which originally was set to begin on May 7, 2023, will focus on the importance of financial literacy and long-term savings in improving household financial stability. It offers in-person and remote access to sessions such as: (1) Reconciling the