Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: EBay, Grameen Foundations Partner to Launch Mobile Marketplace, Transaction Platform to Increase Financial Inclusion in Indonesia

The eBay Foundation, the charitable arm of US-based online marketplace eBay, and Grameen Foundation, a US-based nonprofit that aims to increase financial and technological opportunities for people in poor countries, have announced a partnership to design and launch two technology services intended to increase financial access in Indonesia. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Backs Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI) of India

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and the government-owned Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI) of India, are developing a database of collateral used to secure loans. Continue reading

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MICROCAPITAL BRIEF: Citi Foundation Grants $180k to Parinaam Foundation of India to Provide Financial Literacy Training to Clients of Microfinance Institution Ujjivan

Citi Foundation, the charitable arm of the US-based financial provider Citigroup, reportedly has given a grant of INR 10 million (USD 180,000) to Parinaam Foundation, an Indian nonprofit organization, to deliver Parinaam’s Diksha Financial Literacy Program to approximately 31,000 microfinance clients. Continue reading

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MICROCAPITAL BRIEF: Banking Production Centre (BPC) Releases Electronic Payment System “SmartVista for Microfinance”

Banking Production Centre (BPC) Banking Technologies, a mobile technology solutions provider with offices in Asia, Europe, Latin America and Russia, has released SmartVista for Microfinance, an electronic payment solution specifically for microfinance institutions (MFIs). Continue reading

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MICROCAPITAL BRIEF: Smart Communications of the Philippines Partners with Mobile Money Service Provider mHIT of Australia, Microinsurance Provider BenLife

Smart Communications, a wireless service provider in the Philippines, reportedly has partnered with mHIT, an Australian mobile payment service developer and operator, to facilitate mobile money transfers and remittances for Filipinos in Australia. Continue reading

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MICROCAPITAL BRIEF: ResponsAbility Invests $100k in Bank Eskhata of Tajikistan, $1.5m in Mitra Bisnis Keluarga (MBK) Ventura of Indonesia

ResponsAbility SICAV Mikrofinanz-Fonds (rAMF), a microfinance investment vehicle (MIV) managed by responsAbility Social Investments, a Swiss investment company, recently disbursed approximately USD 100,000 in debt to Bank Eskhata of Tajikistan. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Invests $2.2m in Microfinance Institutions CAURIE of Senegal, Thaneakea Phum Cambodia (TPC) of Cambodia

Grameen Credit Agricole Microfinance Foundation (GCAMF), an organization that provides financial services to microfinance institutions (MFIs) and social business projects, has agreed to disburse a XOF 700 million (USD 1.3 million) to Senegal MFI Cooperative Autonome pour le Renforcement des Initiatives Economiques par la Micro finance (CAURIE). Continue reading

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MICROCAPITAL BRIEF: Ufone Purchases Rozgar Microfinance Bank, to Implement Branchless Banking in Pakistan

Ufone Global System for Mobile Communications (GSM), a subsidiary of Pakistan Telecommunication Company Limited, reportedly has purchased all of the shares of Rozgar Microfinance Bank, a Pakistani microfinance institution (MFI), as part of an effort to offer branchless banking throughout the country. Continue reading

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MICROCAPITAL BRIEF: Thailand’s Government Banks May Refinance Microloans Via Mobile Banking

Thailand’s Ministry of Finance (MOF) reportedly is considering turning to mobile banking to help reduce over-indebtedness, which has been caused by a failure “to seek support from and convince unofficial money lenders to relieve debts,” according to a quote attributed to Deputy Finance Minister Viroon Tejapaibul. Continue reading

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MICROCAPITAL BRIEF: Hindustan Unilever: Banks, Corporate Distribution Networks Can Increase Financial Inclusion in India

Hindustan Unilever (HUL), an Indian consumer goods company, reportedly released a statement saying companies can help increase financial inclusion because they “have a wider distribution network than any government agency as our products reach almost every village in the country.” Continue reading

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MICROCAPITAL BRIEF: Grameen Bank Ordinance Seen as Power Grab by Bangladeshi Government, Bank Refutes Claims by Prime Minister of 45% Microloan Interest Rates

The cabinet of ministers of Bangladesh has reportedly approved an amendment to the ordinance regulating Grameen Bank, a Bangladeshi microfinance institution (MFI), that allows the bank’s chairman, Mr Muzammel Huq, to nominate a pool of three candidates from which a managing director of the bank will be chosen. Continue reading

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