MICROFINANCE PAPER WRAP-UP: “A Microcredit Crisis Averted: The Case of Bangladesh,” by Greg Chen and Stuart Rutherford, Published by CGAP (Consultative Group to Assist the Poor)

“A Microcredit Crisis Averted: The Case of Bangladesh,” by Greg Chen and Stuart Rutherford, Published by CGAP (Consultative Group to Assist the Poor), July 2013, 20 pages, http://www.cgap.org/sites/default/files/Focus-Note-A-Microcredit-Crisis-Averted-July-2013.pdf

MICROCAPITAL BRIEF: Cambodia Post Bank Opens, Targets Micro-, Small and Medium-sized Enterprises (MSMEs)

The Cambodia Post Bank, a new commercial bank in Cambodia, recently opened for business and allegedly will focus on providing loans between USD 300 and USD 250,000 to micro-, small and medium-sized enterprises (MSMEs) [1].

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Distributes $675k Loan to Cambodian MFI Chamroeun,Takes 20% Stake and Gives Funding to Senegalese Senegalaise des Filieres Alimentaires SA (SFA)

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based financial service provider for microfinance institutions (MFIs) and social business projects, recently reported to MicroCapital that it has distributed the second tranche of a three-year loan of EUR 500,000 (USD 675,000) to Chamroeun, a Cambodian MFI that offers savings, loans and microinsurance [1].

MICROCAPITAL BRIEF: Bangladeshi Grameen Bank to Be Placed Under Jurisdiction of Bangladesh Bank

The Bangladeshi government reportedly has decided to place the Grameen Bank, a Bangladeshi microfinance institution (MFI), under the direct control of the Bangladesh Bank, the country’s central bank, allegedly in order to “better monitor” the microcredit organization [1].

MICROCAPITAL BRIEF: Micro Housing Finance Corporation (MHFC) Raises $5.6m in Equity from Michael and Susan Dell Foundation, India Financial Inclusion Fund, Unilazer Ventures

The Micro Housing Finance Corporation (MHFC), an India-based finance company that provides housing loans of up to INR 500,000 (USD 8,040), recently announced that it has raised INR 35 million (USD 5.62 million) in equity.

MICROCAPITAL BRIEF: Indonesia’s Otoritas Jasa Keuangan to Regulate Microfinance Institutions Beginning in 2015

Otoritas Jasa Keuangan (OJK), an agency of the Indonesia government that regulates the financial services sector, has announced that it will take over the role of regulating microfinance institutions (MFIs) from Bank Indonesia, the central bank of Indonesia, in 2015.

MICROCAPITAL BRIEF: UK-Based Standard Chartered Bank Loans $1.8m to Asa Philippines Foundation

Standard Chartered Bank (SCB), a UK-based financial services company, reportedly has extended a loan of PHP 80 million (USD 1.8 million) to Asa Philippines Foundation (Asa), a Manila-based provider of loans, savings, insurance, business development training and academic scholarships for clients and their children in the Philippines.

MICROCAPITAL BRIEF: Former JP Morgan Asset Management Chairman Unveils $40m Impact Investment Fund, Charioteer-Fund I, to Support Skill Development, Microenterprises in India

Krishnamurthy Vijayan, the former executive chairman of JP Morgan Asset Management India, a Mumbai-based subsidiary of international investment and commercial bank JP Morgan Chase, reportedly has created Charioteer Fund-I, an INR 2.5 billion (USD 40 million) impact investment fund that will seek to place with investments in 25 ventures.

MICROCAPITAL BRIEF: 9th Annual Clinton Global Initiative (CGI) Participants Commit to Advancing 15,000 Women-owned Businesses by 2018

The 2013 Clinton Global Initiative (CGI), an annual meeting that brings together global leaders in an effort to address international problems, was held September 23-26 and focused on ways that CGI members can mobilize people to action to solve world problems [1].

MICROCAPITAL BRIEF: PlaNet Finance Partners with Thaneakea Phum Cambodia (TPC), China Foundation of Poverty Alleviation (CFPA) to Implement Microfinance Risk Management System

PlaNet Finance, a France-based nongovernmental organization, recently partnered with Thaneakea Phum Cambodia (TPC), a Cambodia-based microfinance institution (MFI), and the China Foundation of Poverty Alleviation (CFPA), a China-based microfinance lender, to integrate PlaNet Finance’s new risk management system into the two Asian MFIs’ operations.

MICROCAPITAL BRIEF: Philippines-based Cebuana Lhuillier Insurance Solutions (CLIS) Launches “Microinsurance on Wheels”

Cebuana Lhuillier Insurance Solutions (CLIS), a Philippines-based insurance provider, reportedly has launched a “Microinsurance on Wheels” campaign in an effort to increase financial literacy including awareness of the benefits of microinsurance products in low-income rural areas of the Philippines.

MICROCAPITAL BRIEF: Cambodian Microbank Sathapana, ElectraCard Partner to Provide ATM, Debit Card Services

Sathapana Limited, a Cambodia-based microfinance institution (MFI), reportedly has partnered with ElectraCard Services (ECS), a subsidiary of India-based Opus Software Solutions that provides electronic payment services, to provide automated teller machine (ATM) and debit card services to Sathapana customers.

MICROCAPITAL BRIEF: Indian Government Seeks Parliamentary Approval for $859m in Spending for Women’s Bank; Women’s Safety; Skills Training; Micro-, Small and Medium-Sized Enterprises (MSMEs); International Monetary Fund (IMF)

The Indian government reportedly is awaiting the Parliament’s approval to spend an additional INR 54.3 billion (USD 859 million) for several institutions including an additional INR 10 billion (USD 159 million) for each of the following: Nirbhaya Fund, a fund supporting women’s safety in India; National Skill Development Corporation (NSDC), which is backed by the Indian Ministry of Finance and provides skill training programs to India’s workforce; and to establish a women’s bank in India.

MICROCAPITAL BRIEF: Bangladesh Bank Asks Commercial Banks to Provide Services to Readymade Garment (RMG) Workers

The Bangladesh Bank (BB), the country’s central bank, recently asked commercial banks to provide readymade garment (RMG) workers with bank accounts so they can receive wages through direct deposit. BB requested commercial banks not to require a minimum balance or charge for banking services.

MICROCAPITAL BRIEF: Microfinance Providers in Pakistan Report 19.4% Increase in Savings, 5.55% Increase in Microinsurance Clients in Second Quarter of 2013

Between April and June of 2013, the value of savings held by Pakistan’s microfinance providers (MFPs) reportedly increased by 19.4 percent from the previous quarter to total PKR 30 billion (USD 282 million).

MICROCAPITAL BRIEF: Ujjivan Financial Services Raises $7.9m from Oikocredit for On-Lending to Microfinance Clients

Ujjivan Financial Services, a Bangalore-based microfinance institution, has raised INR 500 million (USD 7.9 million) of debt capital from Oikocredit, a Dutch cooperative investment fund, for on-lending to microfinance clients in an effort to support economic development in poor Indian communities.

MICROCAPITAL BRIEF: Rizal Microbank of the Philippines Sets Up Eight Mobile Microbusiness Offices (MBOs)

Rizal Microbank, a Philippines-based microfinance subsidiary of Rizal Commercial Banking Corporation (RCBC) that offers microloans, deposits, and microinsurance, reportedly is spending PHP 16,000,000 (USD 367,000) to set up eight mobile microbusiness offices (MBOs) to increase microfinance services in the Philippines [1]. The MBOs, which will be made up of two container vans and run by two bank employees, will allow customers to deposit and withdraw cash and apply for loans without needing to travel to a bank branch [1]. The transactions will be cashless and done through Automated Teller Machines (ATMs) or RCBC’s “My Wallet” debit card [2].

MICROCAPITAL BRIEF: Indian SKS Trust Advisors Buys 2.7% of SKS Microfinance for $2m, Increasing Stake to 12.6%

SKS Trust Advisors Private Limited, the India-based trustee of five mutual benefit trusts benefiting groups who borrow from SKS Microfinance Limited, reportedly has purchased an additional 2.69 percent of the shares of SKS Microfinance, increasing its stake in the firm to 12.6 percent.