Category: Transparency

MICROCAPITAL BRIEF: Union Cabinet of India to Present Microfinance Bill to Parliament

The Union Cabinet of India, a decision-making body of the executive branch of the government of India, reportedly has approved a bill proposing that all microfinance institutions (MFIs) register with the Reserve Bank of India (RBI) and maintain a minimum of funds equal to INR 5 lakh (USD 9,270). Continue reading

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MICROCAPITAL BRIEF: Microfinance Accounts for 3% of Nigeria’s GDP, says National Association of Microfinance Banks (NAMB)

The National Association of Microfinance Banks (NAMB), a trade group of microfinance banks in Nigeria, reportedly has announced that microfinance banks accounted for 3 percent of Nigeria’s gross domestic product (GDP) in 2011, which was USD 413 billion. Continue reading

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MICROCAPITAL BRIEF: US Secretary of State Hillary Clinton Expresses Concern over Investigation of Bangladeshi Microfinance Institution Grameen Bank

US Secretary of State Hillary Clinton has expressed her support for Nobel Peace Laureate Dr Muhammad Yunus and urged the Bangladeshi government “not to undermine the independence of the Grameen Bank.” Continue reading

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MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Certifies Fonds Européen de Financement Solidaire (FEFISOL) with “Microfinance Label”

Fonds Européen de Financement Solidaire (FEFISOL), a for-profit investment fund registered in Luxembourg, has obtained the “Microfinance Label” from the Luxembourg Fund Labeling Agency (LuxFLAG), a microfinance investment vehicle (MIV) certification organization. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Certifies Fonds Européen de Financement Solidaire (FEFISOL) with “Microfinance Label” Posted in Africa, Investment Funds, Transparency

MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Certifies Access Africa Fund with “Microfinance Label”

Access Africa Fund, a for-profit limited liability company, has become the first US-based microfinance investment vehicle (MIV) to obtain the “Microfinance Label” from the Luxembourg Fund Labeling Agency (LuxFLAG), an MIV certification organization. Continue reading

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MICROCAPITAL BRIEF: Bangladesh Government to Investigate NGOs, Microcredit Entities for Money Laundering

The Bangladeshi government reportedly intends to investigate the financial transactions of nongovernment organizations (NGOs) and microcredit entities operating in the country “to unearth any kind of money laundering.” Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Disclosure Regimes for Responsible Financial Inclusion; The Thailand Village and Urban Revolving Fund; “Microsavings Works Much Better”

Designing Disclosure Regimes for Responsible Financial Inclusion,” by Jennifer Chien; published by CGAP (Consultative Group to Assist the Poor); March 2012; 23 pages; available at:
http://www.cgap.org/gm/document-1.9.57109/FN_78.pdf Continue reading

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MICROCAPITAL BRIEF: RBI Wants Microfinance Institution Deposit-Taking Cut From Micro Financial Sector Bill

Deputy Governor Anand Sinha of the Reserve Bank of India (RBI), India’s central banking authority, reportedly announced in a budget speech that RBI does not support allowing microfinance institutions (MFIs) to take deposits from clients. Continue reading

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MICROCAPITAL BRIEF: Report: “Bosnia’s Microfinance Meltdown” Attributed to Accounting Control Fraud by Microfinance Institution (MFI) Managers

In a recent story on New Economic Perspectives, a website offering policy advice and economic analysis, William K Black comments on David Roodman’s article in the Washington Post, “Microcredit doesn’t end poverty, despite all the hype,” which was published on March 11, 2012. Continue reading

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MICROCAPITAL BRIEF: Bank of Ghana (BOG) Pursues Tighter Regulation, Enforcement of Microfinance Sector

The Bank of Ghana (BOG) reportedly has called on microfinance institutions (MFIs) to apply for operational licenses and operate by national bank rules. Continue reading

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MICROCAPITAL BRIEF: Bank of Ghana (BOG) Receives 300 Microfinance License Applications

The Bank of Ghana (BOG) reportedly has received approximately 300 applications “from firms seeking to operate under the second tier of the regulated microfinance institutions.” Continue reading

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MICROFINANCE PAPER WRAP-UP: “The Challenge of Understanding Pricing of Micro-loans,” by Chuck Waterfield, Published by MicroFinance Transparency

MICROCAPITAL BRIEF: Rating Agency CRISIL Upgrades Indian Microfinance Institutions Ujjivan, Equitas, Janalakshmi

The Indian rating agency Credit Rating and Information Services of India Limited (CRISIL) has upgraded the ratings of Indian microfinance institutions (MFIs) Equitas Micro Finance India Private Limited and Ujjivan Financial Services from BBB- to BBB, a level that indicates a moderate level of safety [1] [2]. Continue reading

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MICROCAPITAL BRIEF: Pakistan Poverty Alleviation Fund (PPAF), Pakistan Microfinance Network (PMN) Launch MicroEYE Information Mapping Tool

The Pakistan Poverty Alleviation Fund (PPAF), a public-private partnership, and the Pakistan Microfinance Network (PMN), a network of 20 microfinance providers in Pakistan, have launched MicroEYE, a tool that maps the competitive landscape of microfinance in Pakistan. Continue reading

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MICROCAPITAL BRIEF: As Ghanaian Microfinance Grows, Some Express Need for Lower Interest Rates, More Transparency

As the number of microfinance institutions (MFIs) in Ghana has grown over the last five years, there have been mixed reviews of the impact of microfinance. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: As Ghanaian Microfinance Grows, Some Express Need for Lower Interest Rates, More Transparency Posted in Africa, Transparency

MICROCAPITAL BRIEF: Reserve Bank of India to Issue Guidelines For Interoperability Among Business Correspondents “Shortly”

The Reserve Bank of India (RBI) is working to enable interoperability among business correspondents (BCs) to promote financial inclusion in rural areas [1]. Continue reading

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MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Awards First Microfinance Label to Azure Global Microfinance Fund, responsAbility Financial Inclusion Fund

The Luxembourg Fund Labeling Agency (LuxFLAG), an organization aiming to increase transparency for investors wishing to make responsible investments in the fields of microfinance and the environment, has recently given the LuxFLAG Microfinance Label to two Swiss microfinance investment vehicles (MIVs) for the first time: the Azure Global Microfinance Fund SICAV-SIF and responsAbility SICAV Financial Inclusion Fund. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Awards First Microfinance Label to Azure Global Microfinance Fund, responsAbility Financial Inclusion Fund Posted in Transparency

MICROCAPITAL BRIEF: Center for Latin American Monetary Studies (CEMLA), Multilateral Investment Fund (MIF), World Bank Launch Envia Centro America to Promote Transparency in Remittance Activity

The Center for Latin American Monetary Studies (CEMLA in Spanish), a Mexico-based association of Latin American central banks; the Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank Group; and the World Bank recently launched Envía Centro America, a free online tool that allows users to compare the cost and speed of sending remittances from the United States to seven Latin American countries, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and the Dominican Republic, as well as from Costa Rica to Nicaragua. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Center for Latin American Monetary Studies (CEMLA), Multilateral Investment Fund (MIF), World Bank Launch Envia Centro America to Promote Transparency in Remittance Activity Posted in Latin America, Technology, Transparency