by Aleksandr Marceau -

MICROCAPITAL BRIEF: Alliance for Microfinance in Myanmar Raises $5m in Equity from BOPA, IFU, Insitor, Asia Impact Investment Fund

The Alliance for Microfinance in Myanmar, a Mandalay-based microfinance institution, recently received equity investments totaling USD 5 million from

by Ryan Gauthier -

MICROCAPITAL BRIEF: Central Bank of Myanmar Clears the Air by Issuing Mobile Financial Services License for OK Dollar

Myanmar’s Internet Wallet Limited reportedly has received a mobile financial services license from the Central Bank of Myanmar to cover the operations of its subsidiary, OK Dollar,

by the MicroCapital Team -

MICROCAPITAL BRIEF: ADB Donates $150k to Cantilan Bank of the Philippines to Migrate to Oradian Cloud Banking Software

The Philippine’s Cantilan Bank recently received grant funds of USD 150,000 from the Manila-based Asian Development Bank to migrate its operations to Instafin, a cloud-based software product from Croatia-based Oradian. The migration is expected to help Cantilan carry out its “day-to-day operations more effectively and serve their clients more efficiently.” Cantilan Executive Vice President Tanya Hotchkiss said, “This has given Cantilan more capacity to focus on our core business and financial inclusion

by Jacob O'Driscoll -

MICROCAPITAL BRIEF: Indonesian Online Lender UangTeman Raises $12m in Equity Funding for Consumer Loans, Research and Development

UangTeman, an Indonesian firm offering online loans of up to USD 350, recently announced it has secured USD 12 million in Series A funding from

by Jacob O'Driscoll -

MICROCAPITAL BRIEF: PFIP Giving $450k to Solomon Islands’ Government to Digitize Tax Payments

The Pacific Financial Inclusion Program, a Fiji-based initiative of the UN that works to extend financial services to unbanked Pacific Islanders, recently granted USD 450,000 to the Solomon Islands’ Inland Revenue Division (IRD) with the goal of increasing the availability of electronic payment channels for taxes paid by “123,800 wage and salary employees, 200 corporate taxpayers and 3,684 small businesses.”

by the MicroCapital Team -

MICROCAPITAL BRIEF: MicroFinanza Rating Issues 13 Institutional, Social, Client-protection Credentials to Microfinance Institutions in Albania, Morocco, Namibia, Asia, Latin America

During July and August, Italy’s MicroFinanza Rating (MFR) issued five microfinance institutional ratings. Morocco’s Attadamoune Micro-Finance was assigned the grade B+ with a stable outlook. Ecuador’s Fundación Espoir and Albania’s FED Invest both earned grades of BB with stable outlooks. Two institutions earned grades of

by Matthew ONeill -

MICROFINANCE PUBLICATION ROUND-UP: Offshore Financial Centers for Impact Investing; Financial Inclusion in 2025; Microfinance in India

“Offshore Financial Centers for Financial Inclusion: A Marriage of Convenience;” by Sam Mendelson and Daniel Rozas; published by the Center for Financial Inclusion (CFI) at Accion; June 2017; 14 pages; available at:
http://www.centerforfinancialinclusion.org/publications-a-resources/browse-publications/865-offshore-financial-centers-for-financial-inclusion

This paper explores the use of offshore financial centers (OFCs) based on interviews with 13 equity impact investors.

by Jacob O'Driscoll -

MICROCAPITAL BRIEF: Reserve Bank of India Releases “Compendium of Guidelines on Financial Inclusion and Development” in Support of Small Finance Banks’ Launch

The Reserve Bank of India, India’s central banking authority, recently released its “Compendium of Guidelines on Financial Inclusion and Development” for small finance banks, a new classification of institutions intended to increase the “supply of credit to micro- and small enterprises (MSEs), [as well as] agriculture and banking services in unbanked and under-banked regions in the country.”

by Ryan Gauthier -

MICROCAPITAL BRIEF: KMF and Bereke of Kazakhstan, Vasham of Indonesia Borrow $5.1m from Grameen Credit Agricole Microfinance Foundation

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services primarily to microfinance institutions, recently informed MicroCapital that it has committed to extending the following local-currency loans in phases over three years: the equivalent of USD 3.9 million to KazMicroFinance LLC (KMF) of Kazakhstan, the equivalent of USD 550,000 to Bereke of Kazakhstan, and the equivalent of USD 660,000 to Vasham of Indonesia.

by Ryan Gauthier -

MICROCAPITAL BRIEF: Indian Microlender Arohan Sells 13% Equity Stake to Maj Invest for $15m; Aavishkaar, Tano Increase Holdings

Arohan Financial Services, an Indian non-banking finance company that offers microloans to women, recently raised INR 155 crore (USD 24.1 million) from Maj Invest, a Danish asset management firm; Tano Capital, a US-based asset management firm focusing on emerging markets; Aavishkaar Venture Management Services, a venture capital firm targeting underserved regions of India; and multiple individuals.

by Matthew ONeill -

MICROCAPITAL BRIEF: Bank of the Philippine Islands (BPI) Targeting Microentrepreneurs via Microfinance Institution, BPI Direct BanKo

The Bank of the Philippine Islands (BPI), which is owned by the Philippines’ Ayala Corporation, recently created BPI Direct BanKo, a microfinance bank intended to cater to “self-employed micro-entrepreneurs.”

by Ryan Gauthier -

MICROCAPITAL BRIEF: SoftBank Pays $1.4b for 20% Equity Stake in Paytm, Provider of Digital Payment Services in India

Paytm, an Indian electronic payment and e-commerce company with 220 million users, recently raised INR 90 billion (USD 1.4 billion) in equity by selling nearly 20 percent of its shares to SoftBank Group, a Japanese conglomerate operating in the technology and energy sectors.

by Ryan Gauthier -

MICROCAPITAL BRIEF: Impact Investment Exchange (IIX) Preparing $8m Women’s Livelihood Bond Issue to Fund Microfinance, Vocational Training in Southeast Asia

Impact Investment Exchange Asia (IIX), a Singapore-based facilitator of investment in social enterprises, recently announced that it has raised USD 8 million via a “Women’s Livelihood Bond” issue to support women-owned businesses in Southeast Asia.

by Matthew ONeill -

MICROFINANCE EVENT: Mondato Summit Asia; November 28-29, 2017; Yangon, Myanmar

Event Name: Mondato Summit Asia 2017 – Of Titans & Trailblazers: Emerging Asia’s Digital Finance & Commerce Moment

Event Date: November 28 – November 29, 2017

Event Location: Yangon, Myanmar

Cost: Entry passes cost USD 1,500 until August 31 and USD 1,750 thereafter.

Summary of Event: Attendees will consider ways “incumbents and innovators alike can navigate the highly complex digital finance and commerce (DFC) ecosystem” in South and Southeast Asia. The proceedings will include case studies, debates, demonstrations and roundtable discussions.