Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Financial Supervisory Commission (FSC) of Taiwan Encourages Banks to Reduce Microcredit Transaction Fees

The Financial Supervisory Commission (FSC) of Taiwan, the government agency charged with regulating the island’s insurance and banking sectors, reportedly has encouraged banks to reduce the fees they charge on microcredit loans in Taiwan. Continue reading

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MICROCAPITAL BRIEF: Philippine Long Distance Telephone Company Purchases 10% Equity Stake in Rocket Internet for $445m with Eye on Mobile Payments

The Philippine Long Distance Telephone Company (PLDT), a Philippines-based telecommunications company, reportedly has purchased a 10-percent stake in Rocket Internet, a Germany-based web service provider and e-commerce investment firm, for EUR 333 million (USD 445 million). Continue reading

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MICROCAPITAL BRIEF: Indian Government Launches 15 “Technology Centres” to Support Micro-, Small, Medium-sized Enterprises (MSMEs)

The Ministry of Micro-, Small and Medium Enterprises (MSMEs), the Indian government agency in charge of regulating and supporting MSMEs, reportedly has launched its “Technology Centre Systems Programme,” which involves establishing 15 technology centers and improving the three existing such centers across the country. Continue reading

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MICROCAPITAL BRIEF: Janalakshmi Financial Services to Buy $90m in Products, Services From International Business Machines (IBM)

Janalakshmi Financial Services (JFS), a Bangalore-based microfinance institution (MFI) that offers lending and insurance services, and International Business Machines (IBM), a US-based information technology consulting company, have signed a six-year agreement worth INR 5.5 billion (USD 90 million) to provide JFS with IBM products and services in support of the MFI’s proposed growth in India. Continue reading

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MICROCAPITAL BRIEF: India’s ESAF Microfinance and Investment Issues $7.8m In Non-Convertible Debentures (NCDs) to Triodos

Evangelical Social Action Forum (ESAF) Microfinance and Investment Private Limited (EMFIL), a non-banking financial institution (NBFC) based in the Indian state of Kerala, reportedly has raised INR 475 million (USD 7.8 million) by issuing non-convertible debentures (NCDs) to Triodos Investment Management, a subsidiary of Netherlands-based for-profit Triodos Bank [1]. Continue reading

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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

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MICROCAPITAL BRIEF: Symbiotics Issues $30m in Bonds to MicroCred China; India’s Arohan, Grameen Koota, Annapura Microfinance

Symbiotics, a Switzerland-based investment company that focuses on emerging markets, has completed bond transactions worth a total of USD 30 million with MicroCred China, an affiliate of the France-based MicroCred and PlaNet Finance groups; Arohan Financial Services Private Ltd., an Indian financial services company; Grameen Financial Services Private Ltd., a Bangalore-based microfinance institution (MFI) also known as Grameen Koota; and Annapurna Microfinance Private Ltd., an MFI based in the Indian state of Odisha. Continue reading

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MICROCAPITAL BRIEF: Vietnam Bank for Social Policies (VBSP) Deploys Intellect Core Banking Solution of Indian Software Firm Polaris

The Vietnam Bank for Social Policies (VBSP), a government-owned bank that offers microfinance and other services in Vietnam, recently has deployed the Intellect (R) Core Banking Solution (CBS), an enterprise platform offered by India-based Polaris Financial Technology Limited (Polaris) [1]. Continue reading

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MICROCAPITAL BRIEF: Pakistan’s Khyber Pakhtunkhwa Provincial Government, Bank of Khyber (BOK) Launch $10 million Islamic Microfinance Scheme to Promote Employment for 550k Unemployed Workers in the Province

The government of the Pakistani province of Khyber Pakhtunkhwa province reportedly has committed a PKR 1 billion (USD 10 million) to an Islamic microfinance scheme to be implemented through the Bank of Khyber (BOK), a Pakistani bank that offers banking services and microfinance loans that comply with Islamic law by using concepts such as profit sharing in lieu of charging interest. Continue reading

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MICROCAPITAL BRIEF: Incofin Investment Management Launches ProPulse Fund for Private Institutional Investors to Access Microfinance Institutions in Emerging Economies

Incofin Investment Management (Incofin IM), a microfinance fund manager based in Belgium, has announced the launch of its ProPulse Fund, which is designed specifically for private institutional investors to provide financing to entrepreneurs in emerging economies via microfinance institutions (MFIs) in response to “the large demand for local currency loans.” Continue reading

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MICROCAPITAL BRIEF: India’s Rashtriya Gramin Vikas Nidhi North East (RGVN) Microfinance Raises $7m in Equity Funding from Norwegian Microfinance Initiative Fund III, Oikocredit of the Netherlands, Dia Vikas Capital of India

Rashtriya Gramin Vikas Nidhi North East (RGVN), a microfinance institution (MFI) based in the Indian state of Assam, reportedly has raised approximately INR 420 million (USD 6.98 million) in equity funding from new investors [1]. Continue reading

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MICROCAPITAL BRIEF: Bangko Sentral Ng Pilipinas (BSP) Increases Maximum Microinsurance Benefits for Clients in the Philippines to $11k

The Bangko Sentral Ng Pilipinas (BSP), the central bank of the Philippines, has issued Circular Number 841, which amends the Manual of Regulation for Banks, increasing mandated maximum microinsurance premiums and benefits. Continue reading

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MICROCAPITAL BRIEF: Microcredit Regulatory Authority (MRA) of Bangladesh Cancels Licenses of 46 Microfinance Institutions Claiming Misuse of Funds

The Microcredit Regulatory Authority (MRA), a government body that oversees the nongovernment microfinance institutions (NGO-MFIs) in Bangladesh, reportedly has rescinded the licenses of 46 microfinance institutions (MFIs) in the country for being in violation of “existing directives in running their operations” [1]. Continue reading

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MICROCAPITAL BRIEF: India’s Ujjivan Financial Services Raises Debt Capital Worth $10m Through Issuance of Non-Convertible Debentures (NCDs) to International Finance Corporation (IFC)

Ujjivan Financial Services, an Indian microfinance institution (MFI), has raised INR 60 crores (USD 10 million) debt capital by issuing listed, secured and redeemable non-convertible debentures (NCDs) to the International Finance Corporation (IFC), the private-investment arm of the World Bank Group. Continue reading

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