Hatton National Bank (HNB), a private commercial bank in Sri Lanka, has reportedly reached the milestone of serving 100,000 microentrepreneurs as a result of its “Gami Pubudwa” (Village Awakening) program whereby bankers, known as “barefoot bankers,” regularly interact with the rural population to educate individuals on banking and microfinance services and to create a more welcoming environment for potential borrowers.
Event Name: Fifth Annual Money Transmitters Conference
Event Date: October 16-October 19, 2010
Event Location: Hotel Intercontinental, 100 Chopin Plaza, Miami, Florida 33131, US
Vinod Khosla, former CEO of Sun MicroSystems and founder of venture capital firm Khosla Ventures, argues that both for-profit and nonprofit microfinance models can serve a beneficial role, but ultimately points to for-profit status as the goal microfinance institutions (MFIs) should be aiming achieve.
ACCION International (ACCION), a private, US-based nonprofit organization with a global network of microfinance institutions (MFIs), has announced that Philanthropedia, an organization that evaluates the effectiveness of nonprofits, ranked it highest among microfinance organizations.
Microfinance banks (MFBs) in Nigeria are reporting that borrowers are building up such high levels of debt that they are fleeing their homes and, having given false guarantor names, are essentially untraceable.
In a follow-up to their meeting earlier this month, the East African Community (EAC), a regional intergovernmental organization founded in 1967 consisting of the Republics of Kenya, Uganda, Rwanda, Burundi and the United Republic of Tanzania, is reportedly discussing the possible elimination of microfinance institution (MFI) licenses with the aim of facilitating the expansion of microfinance operations in the member states.
SHARE Microfin Limited (SHARE), a microfinance institution (MFI) based in Hyderabad, India, has announced that ICRA Limited (formerly known as Investment and Credit Rating Agency of India Limited), a financial rating agency in India that is partially held by Moody’s Investors Service of the US, awarded SHARE with the highest microfinance grade of M1, up from a grade of M2 that was awarded last year.
The Central Bank of Nigeria (CBN), Nigeria’s central banking authority, recently revoked the licenses of 224 of the country’s 820 microfinance banks.
Microfinance Information Exchange (MIX), a global, web-based microfinance information platform established in 2002, has announced the initiation of online training sessions on MIX Market, MIX’s database providing financial and social performance information on microfinance institutions, funders and service providers.
Mary Ellen Iskenderian, Chief Executive of Women’s World Banking (WWB), an organization that provides technical and advisory services to its network of microfinance institutions (MFIs), wrote an article which appeared on the Huffington Post website urging MFIs to stay true to their mission of serving the poor.
The European Fund for Southeastern Europe (EFSE) has recently signed a loan of EUR 20 million (USD 26.7 million) to Raiffeisenbank EAD (Joint Stock Corporation) of Bulgaria for the provision of loans to low-income households for renovating, enlarging or purchasing their homes.
Event Name: Microfinance 2.0 Conference
Event Date: November 15-November 17, 2010
Event Location: San Francisco, California, USA (Venue to be determined)
Microfinance Information Exchange (MIX), the microfinance information clearinghouse, recently released its 20th edition of the MicroBanking Bulletin (MBB), which includes “2006-2008 MFI Trendline Benchmarks”, highlighting trends in the microfinance industry using data from 611 microfinance institutions (MFIs).
By Olga Morawczynski, Published by Microfinance Information eXchange (MIX), MicroBanking Bulletin, Issue 19, December 2009, 8 pages, available at: http://www.themix.org/sites/default/files/MBB%2019%20-%20Saving%20Through%20the%20Mobile%20Phone.pdf
M-PESA is a mobile-phone-based service for sending and storing money, offered by Safaricom, a mobile service provider in Kenya. From its launch in March 2007 through the writing of this paper, M-PESA has acquired 7 million users. While M-PESA was designed to be a money transfer service, evidence suggests that customers are using it for savings as well.
The latest newsletter of the Women’s World Banking (WWB) Center for Microfinance Leadership, an organization that provides technical and advisory services to microfinance institutions (MFIs) affiliated with WWB, emphasizes the need among MFI leaders for leadership training.
On the occasion of his first anniversary with the organization, Microfinance Information Exchange (MIX) Executive Director Marten Leijon reflects on the past and future of MIX, discussing priorities such as transparency, innovation and increased collaboration for information exchange.
At the annual meeting of the Clinton Global Initiative, a forum on international development founded in 2005 by former US President Bill Clinton, Nobel laureate Muhammad Yunus and Vikram Akula, founder of Indian SKS Microfinance, which recently went public, discussed different models for microfinance institutions (MFIs).
Event Name: Conference: World Card and Payments Summit 2011
Event Date: February 14, 2010 – February 16, 2010
Event Location: Dubai, United Arab Emirates