Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Senate Passes Bill Expanding Types of Foreign Entities that Can Invest Capital in Rural Banks in the Philippines

The Filipino Senate recently approved the third and final reading of a bill to amend the Rural Banks Act, a law governing the creation, organization and operation of rural lenders, to expand the range of foreign entities that can own shares in Filipino institutions licensed as rural banks. Continue reading

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MICROCAPITAL BRIEF: Commercial Credit and Finance of Sri Lanka Issues $2m in Debentures

Commercial Credit and Finance Public Limited Company (PLC), a provider of microfinance and other services in Sri Lanka, reportedly has issued five-year debentures worth a total of LKR 250 million (USD 2 million) to raise money to expand its general and microfinance operations. Continue reading

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MICROCAPITAL BRIEF: Suryoday Micro Finance of India Raises $3.8m from Lok Capital, Aavishkaar, HDFC

Suryoday Micro Finance Private Limited, an Indian microfinance institution (MFI), is reportedly seeking to increase its customer base by 1 million by 2014 and has raised INR 20 crores (USD 3.8 million) in capital from three of its investors: Aavishkaar Goodwell, a for-profit, Indian-Dutch joint venture; Lok Capital, a Mauritius-based microfinance investment vehicle; and the Housing Development Finance Corporation (HDFC), an India-based housing finance company. Continue reading

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MICROCAPITAL BRIEF: Indian Microlender SKS Microfinance Reports Profits After Seven Quarters of Losses

SKS Microfinance, an Indian microlender listed on the country’s National and Bombay Stock Exchanges, recently reported a net profit of INR 11.5 million (USD 209,000) for the quarter ending December 2012, the first quarterly profits for SKS Microfinance in two years. Loans disbursed rose 14 percent to INR 7.8 billion (USD 142 million). Continue reading

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MICROFINANCE EVENT: Women’s World Banking (WWB) Presents “Pacific Forum 2013: Building Microfinance,” February 28 – March 1, 2013, Auckland, New Zealand

Event Name: Women’s World Banking (WWB) Pacific Forum 2013 “Building Sustainable Microfinance: The Global-Local Experience”

Event Date: February 28 – March 1, 2013

Even Location: Pullman Hotel, Auckland, New Zealand Continue reading

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MICROCAPITAL BRIEF: E-Commerce Companies 360buy, Suning Appliance to Offer Consumption Loans in China to Compete with Alibaba

Chinese electronic commerce (e-commerce) companies 360buy and Suning Appliance reportedly are preparing to enter the lending sector to compete with Alibaba, another Chinese e-commerce corporation that operates a financing company to facilitate its customers’ purchases. Continue reading

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MICROCAPITAL BRIEF: Australian Bankers’ Association Boosts Consumer Protection in Code of Banking Practice

The 25-member Australian Bankers’ Association (ABA) reportedly has amended its code of banking practice, which is expected to increase transparency in customer interactions. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation Paying $2m for Stake in Arm of Cambodia’s ACLEDA Bank Being Established in Myanmar

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to disburse USD 2 million to ACLEDA Bank, a Cambodia-based commercial bank, to set up a microfinance institution (MFI) in Myanmar. Continue reading

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MICROFINANCE PAPER WRAP-UP: “Map of Microfinance Distribution in India” by Amulya Krishna Champatiray, Parul Agarwal and Santadarshan Sadhu; published by the Centre for Micro Finance (CMF)

By Amulya Krishna Champatiray, Parul Agarwal and Santadarshan Sadhu; published by the Centre for Micro Finance (CMF); 2012; 41 pages; available at: http://www.centre-for-microfinance.com/wp-content/uploads/2012/02/Updated_Final_Report_Map_of_Microfinance_Report_CMF_June27.pdf

This report summarizes the findings of an initiative that gathered information on the portfolios, products and business correspondents of 103 microfinance institutions (MFIs) across India. Continue reading

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MICROCAPITAL BRIEF: Fijian Economist Baljeet Singh Recommends Government, Microfinance Institutions Expand Services to Micro-, Small and Medium-sized Enterprises to Boost Exports, Counter Urbanization

During a recent forum held in the Fijian city of Lautoka, economist Baljeet Singh reportedly called for the public sector to provide technical assistance, training workshops and “low-interest credit” in an effort to develop small and medium-sized enterprises (SMEs). Continue reading

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MICROCAPITAL BRIEF: National Database and Registration Authority to Fund Accidental Death Microinsurance for all Pakistanis

The National Database and Registration Authority (NADRA), the issuer of government identity cards in Pakistan, reportedly has designated the government-owned State Life Insurance Corporation of Pakistan as the low bidder in a procurement process through which NADRA will fund accidental death insurance for all Pakistani citizens. Continue reading

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MICROCAPITAL BRIEF: Microcredit Regulatory Authority (MRA) of Bangladesh Plans to Lower 27% Microcredit Interest Rate Cap

The Microcredit Regulatory Authority (MRA), a Bangladeshi government body that oversees the operations of NGO microfinance institutions (MFIs), reportedly has announced plans to cut the maximum interest rate MFIs are allowed to charge to an unspecified level. Continue reading

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MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation (GCAMF) Loans $751k to Komida of Indonesia, $812k to Alidé of Benin

Grameen Crédit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based organization that offers financial services to microfinance institutions (MFIs) and social business projects in Sub-Saharan Africa and Eurasia, has recently loaned Koperasi Mitra Dhuafa (Komida), an Indonesian MFI, the local-currency equivalent of USD 751,000 with a three-year term. Continue reading

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MICROCAPITAL BRIEF: Banks Finance Fewer Small and Medium-sized Enterprises in Pakistan

According to a report from the State Bank of Pakistan (SBP), the central banking authority of the country, bank financing of small and medium-sized enterprises (SMEs) declined by 4.5 percent from PKR 293 billion (USD 2.99 million) in June 2011 to PKR 248 billion (USD 2.54 billion) in June 2012. Continue reading

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MICROFINANCE EVENT: Third Annual Seminar on Risks in Indian Microfinance, February 18, 2013, Pune, Maharashtra, India

Event Name: Third Annual Seminar on Risks in Indian Microfinance

Event Date: February 18, 2013

Event Location: Pune, Maharashtra, India Continue reading

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MICROCAPITAL BRIEF: Telenor Participates in Launch of MicroEnsure Asia, Opportunity International Sells Stakes in MicroEnsure to International Finance Corporation (IFC), Omidyar Network

MicroEnsure, a microinsurance intermediary founded by US-based nonprofit Opportunity International, has partnered with Telenor Group, a Norwegian mobile communications company, to launch MicroEnsure Asia, which will provide insurance products to Telenor’s business units in Asia. Continue reading

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MICROCAPITAL BRIEF: India’s IFMR Capital Pools Loan Assets from 8 Microfinance Institutions, For Trading on Bombay Stock Exchange

IFMR Capital, an affiliate of the Indian nonprofit Institute for Financial Management and Research (IFMR), a private trust that aims to provide Indian enterprises with access to financial services, recently listed a securitized debt instrument on the Bombay Stock Exchange that pooled loan assets from eight microfinance institutions (MFIs). Continue reading

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MICROCAPITAL BRIEF: Thai Government to Add $2.6b to Village and Urban Revolving Fund

Thai Prime Minister Yingluck Shinawatra reportedly has announced that the government plans to inject USD 2.6 billion of capital into the country’s Village and Urban Revolving Fund (VF), a government-backed program designed to stimulate the economy. Continue reading

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