Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: India’s Financial Information Networks and Operation (FINO) Purchases Mobile Payment Business from Nokia

Financial Information Networks and Operation (FINO), an Indian for-profit technology provider to microbanks and other financial service providers, reportedly has purchased the Indian mobile payment services business of Nokia, a Finnish handset provider, for an undisclosed amount of cash. Continue reading

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MICROFINANCE EVENT: Asia Insurance Review Presents “6th Asia Conference on Microinsurance: Microinsurance as a Growth Catalyst for Insurance to Reach Out to the Masses”, July 24-25, 2012, Manila, Philippines

Event Name: 6th Asia Conference on Microinsurance, “Microinsurance as a Growth Catalyst for Insurance to Reach Out to the Masses” Continue reading

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MICROCAPITAL BRIEF: India’s Redrafted Micro Finance Institutions Bill Would Raise Loan Ceiling to $9k, Task State Committees with Reporting Violations

A change in the Indian Micro Finance Institutions (Development and Regulation) Bill has reportedly raised the ceiling for loans disbursed by microfinance institutions (MFIs) from INR 50,000 (USD 910) to INR 500,000 (USD 9,100). Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan $50m to Jiangsu Financial Leasing of China for On-lending to Small and Medium-Sized Enterprises (SMEs) in Education, Healthcare

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to provide a loan of USD 50 million to Jiangsu Financial Leasing, which was founded in 1985 and is controlled by the Chinese government. Continue reading

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MICROCAPITAL BRIEF: Amid Concerns of a Bubble In Kyrgyzstan, 94 Microfinance Institutions Are Shut Down, 31% of Borrowers Owe Multiple Loans

According to a quote attributed to Fatima Eshimbekova of the World Bank Group’s International Finance Corporation (IFC), MFIs in Kyrgyzstan have doubled their aggregate loan portfolio since 2010. Continue reading

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SPECIAL FEATURE: Absolute Portfolio Management Interviews CEO Nurhayrah Sadava of Microfinance Institution Thaneakea Phum in Cambodia (TPC) Regarding Client Protection Principles

The following text is re-posted with permission from Absolute Portfolio Management.

The microfinance industry has taken big steps forward in the last couple of years to better serve their clients. The Client Protection Principles for microfinance and the accompanying Smart Campaign have been introduced to protect clients, businesses, and the industry as a whole.

Austrian based asset manager Absolute Portfolio Management (APM) offers two “Dual Return – Vision Microfinance” funds, endorses the Smart Campaign and has incorporated the client protection principles into their investment criteria and due diligence. However, APM wanted to double-check how the Principles are employed at the microfinance institutions that the Vision Microfinance funds invest in. Continue reading

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MICROCAPITAL BRIEF: State Bank of Pakistan (SBP) Allows Microfinance Providers to Accept Funding from Non-Bank Sources

The State Bank of Pakistan (SBP), Pakistan’s central banking authority, recently announced that microfinance institutions (MFIs) may raise local-currency funding from non-bank sources including capital markets under the revised guidelines of the Microfinance Credit Guarantee Facility (MCFG). Continue reading

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MICROCAPITAL BRIEF: Indian Microfinance Institution Grameen Koota Raises $5m from responsAbility through Nonconvertible Debentures

Grameen Financial Services Private Limited (Grameen Koota), an Indian microfinance institution (MFI), recently raised INR 25 crore (USD 5 million) in debt funding through the issue of secured, redeemable, non-convertible debentures (NCDs). Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Impact of Property Insurance in Ghana; Priority Issues for the Microfinance Sector; Investment in Sub-Saharan Africa

“’Doing the Math’ with Property Insurance in Ghana;” by Barbara Magnoni, et al; published by the Microinsurance Centre; May 2012; 9 pages; available at: http://www.microinsurancecentre.org/milk-project/milk-docs/doc_details/868-milk-brief-10-qdoing-the-mathq-with-property-insurance-in-ghana.html Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Invest $1.6m in Chinese-Mongolian Microcredit Company Urumqi Tianrong

International Finance Corporation (IFC), the private-investment arm of the World Bank Group, is making a CNY 10 million (USD 1.6 million) equity investment in Urumqi Tianrong Microcredit Company, a joint venture of Mongolia-based TenGer Financial Group (TFG), IFC and three unidentified investors from China and Mongolia. Continue reading

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MICROCAPITAL BRIEF: Nepal Rastra Bank (NRB) Limits Microloan Interest Rate Changes, Adjusts Provisions for “Deprived-Sector” Lending

Nepal Rastra Bank (NRB), the central bank of Nepal, has reportedly issued a circular mandating that financial institutions permit borrowers to repay loans at the original given interest rate in the event of an increase in the interest rate. Continue reading

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MICROCAPITAL BRIEF: Call for Papers: Impact and Policy Conference, Bangkok, August 30 to September 1, 2012, Hosted by Asian Development Bank, Innovations for Poverty Action, Abdul Latif Jameel Poverty Action Lab

Innovations for Poverty Action (IPA), a US-based nonprofit research organization, has issued a call for papers for researchers interested in having their papers included in the Impact and Policy Conference: Evidence in Governance, Financial Inclusion, and Entrepreneurship to be held in Bangkok August 30 – September 1, 2012. Continue reading

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MICROCAPITAL BRIEF: VisionFund International Releases Three-Year Plan to Improve Lives of 3.5m Children

VisionFund International, a UK-based nonprofit organization that manages the microfinance institutions (MFIs) of the US-based nonprofit relief organization World Vision International, has announced a three-year strategy to increase the number of lives it impacts from 2.2 million annually to 3.5 million annually by 2015. Continue reading

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MICROCAPITAL BRIEF: Incofin, BIO Sign $12m Agreement to Develop Early-Stage Microfinance Institutions in Africa, Latin America, Asia

Incofin Investment Management (Incofin), a Belgian company that develops and manages microfinance investment funds, and the Belgian Investment Company for Developing Countries (BIO in Dutch), a state-owned development finance institution, recently signed a EUR 10 million (USD 12.6 million) agreement intending to assist in developing early-stage microfinance institutions (MFIs) in Africa, Latin America and Asia. Continue reading

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MICROCAPITAL BRIEF: Indian Microfinance Institution Basix Sees Assets Fall from $326m to $22m

Indian microfinance institution (MFI) Basix, also known as Bhartiya Samruddhi Finance Limited, now reportedly has INR 124 crore (USD 22.37 million) in assets compared to the INR 1,808 crore (USD 326 million) it in September 2010. The number of borrowers from Basix has fallen to 200,000 from 1.74 million during same time period. Continue reading

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