MICROCAPITAL BRIEF: Whole Foods Market’s Whole Planet Foundation Raises $2.2m to Support Microfinance Institution Partnerships in 11 Countries, Including Expanding Work with Grameen America to New York, Miami

The Whole Planet Foundation, an affiliate of US-based grocer Whole Foods Market, announced it has secured donations of USD 2.2 million (as of March 17) towards its goal of raising USD 3.2 million by the end of March 2017 to grant for microlending through

MICROCAPITAL BRIEF: Entrepreneurs Amit Patni, Arihant Patni Acquire Stake in Grameen Capital India

Grameen Capital India (GCI), an investor in microfinance institutions and other social enterprises, recently announced the acquisition of a 43 percent stake in the company by Indian technology entrepreneurs Amit and Arihant Patni.

MICROCAPITAL BRIEF: Grameen Bank Ordinance Seen as Power Grab by Bangladeshi Government, Bank Refutes Claims by Prime Minister of 45% Microloan Interest Rates

The cabinet of ministers of Bangladesh has reportedly approved an amendment to the ordinance regulating Grameen Bank, a Bangladeshi microfinance institution (MFI), that allows the bank’s chairman, Mr Muzammel Huq, to nominate a pool of three candidates from which a managing director of the bank will be chosen.

MICROCAPITAL BRIEF: Bangladesh Finance Minister: Management Structures in Microfinance Sector Too Dependent on Founders

Bangladesh Finance Minister A M A Muhith reportedly has urged microfinance institutions (MFIs) to adjust their management structures to ensure that the organizations do not destabilize due to the death of a founder.

MICROFINANCE EVENT: First Affirmative Financial Network Presents 23rd Annual “SRI Conference on Sustainable, Responsible, Impact Investing”, October 2 – 4, 2012, Uncasville, Connecticut, USA

Event Name: 2012 SRI Conference on Sustainable, Responsible, Impact Investing

Event Date: October 2 – October 4, 2012

Event Location: Mohegan Sun Conference Center, Uncasville, Connecticut, USA

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.”

MICROCAPITAL BRIEF: Bangladeshi Government to Investigate Muhammad Yunus, Social Businesses Associated With Microfinance Institution Grameen Bank

Bangladesh Finance Minister A M A Muhith reportedly has announced that the national government “will form a commission to ensure ‘accountability’ of the Grameen social businesses run by Nobel peace laureate Muhammad Yunus.”

MICROFINANCE PAPER WRAP-UP: Credit is Not a Right; by By John Gershman and Jonathan Morduch; Published at the Financial Access Initiative (FAI) of New York University

By John Gershman and Jonathan Morduch, published by the Financial Access Initiative of New York University, April 2011, 9 pages, available at: http://www.microfinancegateway.org/gm/document-1.9.56804/Credit%20is%20not%20a%20right.pdf

MICROCAPITAL BRIEF: Bangladesh Government Declines to Have Muhammad Yunus Recruit New Managing Director of Microfinance Institution Grameen Bank

After a wait of several months, the government of Bangladesh reportedly has vetoed a suggestion made in 2011 by the board of Grameen Bank to task Dr Muhammad Yunus, founder of the bank, with finding a managing director for it.

MICROCAPITAL BRIEF: SKS Microfinance Founder Vikram Akula Says “Yunus Was Right” About Dangers of Private Investment to Microborrowers

Vikram Akula, the founder of Indian for-profit microfinance institution (MFI) SKS Microfinance Limited, reportedly acknowledged that Dr Muhammad Yunus was “right” about the challenges of “bringing private capital into social enterprise.”

MICROCAPITAL BRIEF: Grameen America to Open Additional Branches in California, Michigan and Nebraska

Muhammad Yunus, founder of Grameen Bank of Bangladesh, has reportedly announced that Grameen America, a nonprofit microfinance institution (MFI) based in the US state of New York City, will open additional branches in California, Michigan and Nebraska.

MICROCAPITAL BRIEF: Bangladeshi Prime Minister Proposes Microfinance Pioneer Muhammad Yunus as Next World Bank President

Bangladeshi Prime Minister Sheikh Hasina has reportedly recommended the appointment of Dr Muhammad Yunus, founder of Grameen Bank, as the next president of the World Bank, an institution that provides loans to developing countries.

MICROCAPITAL BRIEF: Dr Muhammad Yunus, Indian Institute of Management – Ahmedabad to Raise $10m for Social Business in India

Dr Muhammad Yunus, the founder of Grameen Bank in Bangladesh, recently partnered with the Indian Institute of Management- Ahmedabad (IIM-A), a public business school, to pool a INR 50 crore (USD 10.1 million) investment fund for social ventures.

MICROCAPITAL BRIEF: Bangladeshi Government Reportedly Seeking Control of Grameen Bank “Empire”

The government of Bangladesh reportedly is taking steps to assert control over some of the 48 firms affiliated with Grameen Bank, a microfinance institution that was founded in Bangladesh in 1976 by Dr Muhammad Yunus.

MICROFINANCE EVENT: Muhammad Yunus Documentary “Bonsai People” to be Screened in Los Angeles, New York February 10 – February 16, 2012

Event Name: Bonsai People: The Vision of Dr Muhammad Yunus

Event Date: February 10 – February 16, 2012

Event Location:
Laemmle’s Noho 7, 5240 Lankershim Boulevard, North Hollywood, California 91601 USA
The Quad 34, West 13th Street, New York, New York 10013 USA

MICROCAPITAL BRIEF: Muhammad Yunus International Centre for Microfinance and Social Business Launched at Okan University in Turkey

The Okan University in Istanbul, Turkey, has launched the Muhammad Yunus International Centre for Microfinance and Social Business, which aims to contribute to poverty reduction and sustainable development by “promoting, developing and implementing social business ideas and projects” [1].

MICROCAPITAL BRIEF: Dr Muhammad Yunus to Seek Court Review of His Removal as Managing Director of Bangladeshi Microfinance Institution Grameen Bank

Nobel laureate Dr Muhammad Yunus reportedly has sought a review of the court decision that upheld his removal from his position as managing director of Bangladeshi microfinance institution (MFI) Grameen Bank.

MICROCAPITAL BRIEF: Under Pressure Since February, Dr Muhammad Yunus, Founder of Bangladesh Microfinance Institution (MFI) Grameen Bank, Resigns as Managing Director

Dr Muhammad Yunus, the founder of Grameen Bank, a nonprofit microcredit organization in Bangladesh, has officially resigned from his post as managing director in accordance with a ruling of the country’s Supreme Court [1].