The Boma Project, a nonprofit organization in northern Kenya that aims to improve the ability of women to earn their own incomes, recently has become the first African organization to be certified by Grameen Foundation, a US-based nonprofit, on the Progress out of Poverty Index (PPI) Advanced Standards of Use. Continue Reading »

The Small Enterprise Education and Promotion (SEEP) Network, an association of microfinance institutions (MFIs) and non-governmental organizations (NGOs) headquartered in Washington DC, is launching the planning phase of its Global Savings Campaign. Continue Reading »

Event Name: World Forum for the Millennium Development Goals

Event Date: September 19 – September 21, 2012

Event Location: Palais Brongniart and Hôtel de Ville de Paris, Paris, France Continue Reading »

Wincor Nixdorf, a Germany-based information technology (IT) provider reportedly has announced it is supplying banks in Bangladesh with automated teller machine (ATM) technology in an effort to increase access to financial services via the self-service channel. Continue Reading »

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 »

MicroNed, a network of Dutch organizations involved in microfinance, has introduced MicroScore, a tool intended to help microfinance institutions (MFIs) and cooperatives assess themselves before, during, and after conducting capacity building programmes. MicroScore measures the following four performance ratios: governance, institutional, financial performance management, and services and social performance management. Continue Reading »

The Nigerian National Petroleum Corporation (NNPC) Staff Cooperative Multipurpose Society Limited, Lagos, a cooperative of oil and gas company NNPC, recently announced it has begun taking steps to get a license to set up a microfinance bank intended to benefit both members and nonmembers. Continue Reading »

National Insurance Timor-Leste (NITL), an insurance company in the Democratic Republic of Timor-Leste, has partnered with local microfinance institutions (MFIs) Tuba Rai Metin and Moris Rasik to introduce regulated microinsurance products in the country. Continue Reading »

The International Finance Corporation (IFC), a member of the World Bank Group that supports private-sector development, and MasterCard Foundation, a Canada-based foundation that focuses on microfinance end education, recently announced a USD 37.4 million partnership to increase access to financial services in Sub-Saharan Africa. Continue Reading »

“The Financial Behavior of Rural Residents: Findings from Five Latin American Countries;” by Jacqueline Urquizo; published by Accion; March 2012; 45 pages; available at: http://centerforfinancialinclusionblog.files.wordpress.com/2012/03/the-financial-behavior-of-rural-residents_march-2012.pdf Continue Reading »

The Africa, Caribbean, and Pacific/European Union (ACP/EU) Microfinance Programme, a multinational effort investing in microfinance in 80 countries, is offering twenty scholarships for the 2012 Boulder Microfinance Training Programme, which will be held in Turin, Italy from July 16 to August 3. Continue Reading »

Wokai, a US-based online fundraiser for Chinese microfinance institutions (MFIs), has announced that it will shutdown operations due to “a failed search for a new CEO in combination with funding obstacles.” Continue Reading »

SKS Microfinance Limited (SKS), a non-banking finance company (NBFC) regulated by the Reserve Bank of India (RBI), reportedly will terminate 1,200 of 3,400 jobs and shutdown 78 branches in the state of Andhra Pradesh. Continue Reading »

The European Fund for Southeast Europe (EFSE) has reported to MicroCapital that it has made of the following amounts in support of microfinance during April 2012: USD 10 million to Ineco Bank of Armenia, USD 7 million to Megabank of Ukraine and approximately USD 6.66 million to Partner MikroKreditna Fondacija Tuzla of Bosnia and Herzegovina. Continue Reading »

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 »

Grameen Foundation India, a subsidiary of the US-based Grameen Foundation that promotes access to microfinance and technological services, has launched an iteration of the Progress Out of Poverty Index (PPI), a tool that measures poverty levels of groups and individuals, for India. Continue Reading »

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has partnered with mobile-oriented Philippine bank BPI Globe BanKO “to develop microfinance that would help smaller businesses afford clean energy and energy-saving systems.” Continue Reading »

The Bank of Ghana (BoG), Ghana’s central bank authority, reportedly is expected to halt the operations of four unlicensed microfinance institutions (MFIs): MEDLORM Microfinance Limited, African Guarantee Trust, Abbey Cash Microfinance Limited and Swift Financial Services. Continue Reading »