Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Applications Open for Citi Foundation’s Indian Micro Enterprise Awards 2013

Citi Foundation, the charitable arm of US-based financial services provider Citigroup that provides grants for small and growing businesses, in partnership with Access Development Services, an Indian nonprofit consultant to microfinance institutions (MFIs), has opened applications for the 10th annual Citi Micro Enterprise Awards, which aim to recognize and honor microenterprises in India that have generated employment and reduced poverty in their communities [1]. Continue reading

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MICROCAPITAL BRIEF: Belgium’s Incofin Investment Management, Amsterdam’s Agora Microfinance Collect Equity Stakes in Cambodia’s Angkor Mikroheranhvatho Kampuchea

Incofin Investment Management, a Belgium-based microfinance investment fund manager, and Agora Microfinance NV (AMNV), an Amsterdam-based microfinance holding company, have acquired minority stakes in Angkor Mikroheranhvatho Kampuchea (AMK), a microfinance institution (MFI) that distributes loans to approximately 300,000 clients in Cambodia [1]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Belgium’s Incofin Investment Management, Amsterdam’s Agora Microfinance Collect Equity Stakes in Cambodia’s Angkor Mikroheranhvatho Kampuchea Posted in Deals, South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $6m to Asian MFIs ASA Philippines Foundation, Mitra Bisnis Keluarga Ventura of Indonesia

Standard Chartered Bank (SCB), a UK-based financial services company, recently notified MicroCapital that it has disbursed a total local-currency equivalent of USD 5.7 million to ASA Philippines Foundation (ASA) and Mitra Bisnis Keluarga Ventura (MBK) of Indonesia. Continue reading

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MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $13m to Indian MFIs Janalakshmi Financial Services Private Limited, Ujjivan Financial Services Private Limited

Standard Chartered Bank (SCB), a UK-based financial services company, recently notified MicroCapital that it has disbursed local-currency loans equivalent to USD 13 million to Janalakshmi Financial Services Private Limited (JFS) and Ujjivan Financial Services Private Limited (UFS). Continue reading

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MICROCAPITAL BRIEF: Austria’s Absolute Portfolio Management Issues Credits Worth $4m to Microfinance Institutions in Azerbaijan, Cambodia, Georgia, Honduras, Indonesia

In July 2013, Absolute Portfolio Management (APM), an Austria-based asset management company that offers investment and advisory services to microfinance institutions, issued approximately USD 4 million in credit to microfinance institutions (MFIs) located in Azerbaijan, Cambodia, Georgia, Honduras and Indonesia through its two microfinance funds, Dual Return Fund – Vision Microfinance and Dual Return Fund – Vision Microfinance Local Currency [1]. Continue reading

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MICROCAPITAL BRIEF: World Council of Credit Unions Publishes Islamic Operations Manual for Shariah-compliant Credit Unions

The World Council of Credit Unions (WOCCU), a US-based association of credit union trade groups in 54 countries, recently published the “Islamic Finance Manual: Operating Policies and Procedures,” a guide that is intended to assist bankers with establishing Shariah-compliant credit unions in developing countries. The Shariah, which is alternatively referred to as “Islamic law,” prohibits interest payments and fees, so Islamic banking is centered instead on the concept of joint venture and profit sharing. The manual was developed by the Customer Owned Banking Association (COBA), an Australia-based member organization of WOCCU, based on COBA’s experience establishing Islamic investment and finance cooperatives in Afghanistan since 2004. Continue reading

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MICROCAPITAL BRIEF: Nepal Rastra Bank (NRB) Announces Regulations on Microfinance Institutions (MFIs) in Nepal to Increase Financial Inclusion of the Unbanked

The Nepal Rastra Bank (NRB), Nepal’s central banking authority, recently announced new regulations for microfinance institutions (MFIs) that aim to increase the financial inclusion of unbanked districts in the country. Continue reading

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MICROCAPITAL BRIEF: “Financial Diaries Project” Preliminary Readings: Low-Income People in Papua New Guinea Travel Long Distances for Financial Transactions

The “Financial Diaries Project,” an initiative launched in September 2012 by the Bank of Papua New Guinea (BPNG), the nation’s central banking authority, and the Pacific Financial Inclusion Program (PFIP), a project designed by the United Nations to increase access to financial services for low-income Pacific Islanders, recently released a preliminary report that found that low-income people in Papua New Guinea often travel “unusually long” distances to urban centers to carry out financial transactions [1,2]. Continue reading

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MICROCAPITAL BRIEF: Aeon Financial Service Company Limited Launches Consumer Credit Services Subsidiary Aeon Microfinance (Myanmar) Company

Aeon Financial Service Company Limited (Aeon), a Japanese-based credit and financial services provider, recently announced that it has launched Aeon Microfinance (Myanmar) Company, a consumer credit services subsidiary based in the Myanmar State of Yangon. Continue reading

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MICROCAPITAL BRIEF: German KfW Bank Invests $3.28m in Equity in Invest India Micro Pension Services

Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW), a German state-owned development bank, has invested USD 3.28 million in equity in Invest India Micro Pension Services (IIMPS), a New Delhi-based regulator of micro-pension and long-term micro-savings products for poor people, in order to expand pension services to the working poor [1]. Continue reading

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MICROFINANCE PAPER WRAP-UP: “From Blueprint to Scale: The Case for Philanthropy in Impact Investing;” by Harvey Koh, Ashish Karamchandani and Robert Katz; Published by Monitor Group and Acumen Fund

By Harvey Koh, Ashish Karamchandani and Robert Katz; published by Monitor Group and the Acumen Fund; April 2012; 68 pages; available at: http://www.mim.monitor.com/downloads/Blueprint_To_Scale/From%20Blueprint%20to%20Scale%20-%20Case%20for%20Philanthropy%20in%20Impact%20Investing_Full%20report.pdf Continue reading

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MICROCAPITAL BRIEF: Government of Sri Lanka Proposes Long-Delayed Regulations for Microfinance Institutions (MFIs)

The government of Sri Lanka recently proposed a three-tier regulatory and supervisory framework updating a previously proposed law that, if passed, would be applicable to Sri Lankan microfinance institutions (MFIs) that accept deposits from the public. Continue reading

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MICROCAPITAL BRIEF: European Investment Bank (EIB) to Loan $12b by 2020 to African, Caribbean, Pacific Countries for Infrastructure, Private Business, Regional Developments

The Luxembourg-based European Investment Bank (EIB), the long-term lending bank of the European Union (EU), recently announced that it will loan a total of EUR 9 billion (USD 12 billion) by 2020 to institutions in Africa, Caribbean and Pacific (ACP) regions through its ACP Investment Facility, a revolving and risk-bearing fund for private sector investment. Continue reading

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MICROFINANCE EVENT: No-Interest Loan Scheme (NILS) New South Wales (NSW) Conference 2013, October 22-23, 2013, Sydney, Australia

Event Name: No Interest Loan Scheme (NILS) New South Wales (NSW) Conference 2013

Event Date: October 22-23, 2013

Event Location: Australian Technology Park, Eveleigh (Redfern), Sydney, Australia Continue reading

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MICROCAPITAL BRIEF: India’s Bandhan Microfinance Institution to Cut Interest Rates as a Commercial Bank

Bandhan Microfinance, a microfinance institution (MFI) based in Kolkata, India, has applied for a banking license to convert to a commercial bank, which reportedly will reduce costs, reduce interest rates on loans and increase the number of clients [1]. The current interest rate on loans that Bandhan offers is 22 percent; as a commercial bank it can potentially offer rates as low as 12 percent because it can fund loans from deposits, thus reducing its dependence on borrowing costly funds from other banks [2]. Continue reading

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MICROCAPITAL BRIEF: MicroCredit Enterprises Partners with Freedom from Hunger to offer Health-related Services to Clients of Microfinance Institutions (MFIs)

MicroCredit Enterprises (MCE), a US-based NGO microfinance fund manager, and Freedom from Hunger, a US-based NGO that aims to alleviate hunger and poverty, are collaborating on a project that will offer “health-related education, loans, savings, insurance and linkages to local healthcare providers” in hopes that it will alleviate loan defaults caused by poor health and strengthen clients’ abilities to endure income-producing activities [1]. Continue reading

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MICROCAPITAL BRIEF: AG Finance of the Philippines Embarks on Initial Public Offering (IPO) of $3.4m

AG Finance, a Philippines-based microfinance institution (MFI), recently announced that it will embark on an initial public offering (IPO) of PHP 150 million (USD 3.4 million). Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC), Siddhartha Bank Limited (SBL) Purchase 440k Shares of Rural Microfinance Development Center (RMDC) of Nepal Via Initial Public Offering (IPO)

The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently purchased 300,000 shares at NPR 180 (USD 1.87) per unit from an initial public offering (IPO) by the Rural Microfinance Development Center (RMDC), a Nepal-based wholesale microcredit lender. Continue reading

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