Event Name: The Challenges of Designing Shariah Compliant Microfinance Conference
Event Date: 6.30 pm, October 21, 2011
Event Location: Deutsche Bank Auditorium, New York, United States
Event Name: The Challenges of Designing Shariah Compliant Microfinance Conference
Event Date: 6.30 pm, October 21, 2011
Event Location: Deutsche Bank Auditorium, New York, United States
Event Name: Second International Conference on Inclusive Islamic Financial Sector Development: Enhancing Financial Services for Regional Micro-enterprises
Event Date: October 9 – October 11, 2011
Event Location: Sudan Academy for Banking and Financial Sciences (SABFS), Khartoum, Sudan
Event Name: Inclusive Financial Services Stakeholders Conference
Event Date: October 3 – October 4, 2011
Event Location: Erbil, Iraq
Dr Muhammad Yunus, the founder of Bangladeshi microfinance institution (MFI) Grameen Bank, recently argued that the Arab world has “misinterpreted the system’s true principles” by operating it as a “charity affair” [1].
Event Name: Mobile Money Global Summit and Expo, 2011
Event Date: October 31 – November 3, 2011
Event Location: Dubai, United Arab Emirates (UAE)
The Tuninvest-Africinvest Group, a Tunisia-based private equity company that invests in small and medium-sized enterprises (SMEs), recently announced the closing of its Maghreb Private Equity Fund III (MPEF III) with approximately EUR 96 million (USD 134 million) in capital commitments.
Sanabel, a network of microfinance institutions (MFIs) in Arab countries, has reportedly released results of a survey of MFIs in Tunisia and Egypt that indicates a significant increase in portfolio-at-risk (PAR) since political instability and social unrest recently broke out in those countries.
According to a survey conducted by the Yemen Microfinance Network (YMN), a member-based nonprofit organization, microfinance institutions (MFIs) in the country have been negatively affected by the ongoing political climate and are facing an uncertain future.
The European Investment Bank (EIB) has submitted a call for proposals to select university centers that wish to conduct research on the theme of the rising risk of microcredit, which include possible cause factors, warning signals, current states and future prospects.
The Overseas Private Investment Corporation (OPIC), a US government agency that supports private sector development, has approved USD 250 million in loan guarantee facilities each in Egypt and Jordan for local banks that lend to small and medium-sized enterprises (SMEs), microfinance institutions (MFIs), non-banking financial institutions (NBFIs) and “other approved borrowers.”
The US Agency for International Development (USAID), a government institution that provides economic and humanitarian assistance, and Volunteers for Economic Growth Alliance / International Executive Service Corps (VEGA/IESC), a US-based partnership focusing on private sector development, recently announced the commencement of the second phase of the Lebanon Investment in Microfinance (LIM) program, which will provide funding to seven microfinance institutions (MFIs) in Lebanon: Association for the Development of Rural Capacities (ADR); Association d’Entraide Professionelle (AEP); Al Majmoua; Ameen; Lebanese Cooperative for Development (CLD in French); Emkan; and Makhzoumi Foundation.
responsAbility Social Investments AG (responsAbility), a Swiss asset management company that invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has loaned the equivalent of USD 6.3 million to ProCredit Bank of Moldova, Foundation for International Community Assistance (FINCA) Russia and FINCA Jordan through MIVs that it manages.
The Ministry of Planning and International Cooperation (MoPIC) in Jordan, with assistance from KfW, a German government-owned development bank, recently developed a new policy framework for the microfinance industry.
By Mahmoud El-Gamal, Mohamed El-Komi, Dean Karlan, Adam Osman; published by Rice University Department of Economics; April 2011; 27 pages; available at http://www.uh.edu/~achin/workshop/EMF-04-11.pdf
Saudi Hollandi Bank (SHB), a Saudi Arabia-based, publicly-owned commercial bank, recently signed a cooperation agreement with the International Finance Corporation (IFC), the private-investment arm of the World Bank Group, to receive advisory services on expanding the provision of credit to small and medium-sized enterprises (SMEs) in Saudi Arabia.
A recent brief published by CGAP (Consultative Group to Assist the Poor) examines different approaches to measuring changes in client lives that may be attributed to microfinance.
Mr Ajaz Khan, microfinance adviser for nonprofit organization Care International UK, suggests in an article on the “Poverty matters blog” on the website of the UK’s Guardian newspaper that Islamic microfinance has strong potential to support socioeconomic development.
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.