Written by Scott Gaul and Hindi Tazi of the Microfinance Information Exchange (MIX), based on 2006 benchmark data collected by MIX from 194 Asian microfinance institutions, this publication was released in March 2006 as a 20-page document available here.
The Asian microfinance sector served over 35 million active borrowers with USD 6.97 billion in loans in 2006. While it represents only one third of global borrowers, Asian microfinance serves two thirds of total microloan clients. Asian MFIs also achieved scale in savings with over 47 million voluntary depositors, three-fourths of global microfinance savings clients. Continue reading
International financial services provider ING published the updated study “A Billion to Gain? – The Next Phase”. The 68-page report states that the amount of outstanding wholesale loans by international banks to microfinance institutions (MFIs) doubled by the end of 2007 to approximately USD 1.4 billion from USD 0.5 billion in 2006. The author and researcher is Matthis Boúúaert. Continue reading
Dutch firm PGGM, the asset manager for the Netherlands’ healthcare pension fund, Pensioenfonds Zorg & Welzijn (PZW), has announced a EUR 200 million (USD 316 million) commitment to specialist fund managers affiliated with microfinance over the next few years.
ACCION International, a microfinance-oriented non-profit, and Ecobank, a banking group with operations throughout Africa, have partnered to launch microfinance bank EB-ACCION Savings & Loan in Ghana.
The State Bank of Pakistan (SBP) released new guidelines for the capital requirements of microfinance institutions (MFIs). In particular, the SBP will require MFIs to maintain a capital adequacy ratio (CAR) of at least 15% of their risk-weighted assets. To meet this requirement, the central bank allows MFIs to raise tier-II capital and subordinated debt in local currency. Continue reading
The Consultative Group to Assist the Poor (CGAP) reports in its list of recent transactions that the Netherlands Development Finance Company (FMO) financed USD 1,103,100 in loans to Fundación Internacional para la Asistencia Comunitaria de Guatemala (FINCA Guatemala) on January 21, 2008. Continue reading
A BILLION TO GAIN? THE NEXT PHASE
JUNE 16, 2008, AMSTERDAM, NETHERLANDS
The ING Group published an updated study on the microfinance activities of large, international financial institutions, called “A Billion to Gain? The Next Phase”. ING will hold a seminar to highlight the study, discuss latest trends, and debate central banks’ role in microfinance. The conference hopes to attract commercial banks and international microfinance representatives. Continue reading
Established in 2006, the Institute of Microfinance (InM) facilitates research and education on microfinance in Bangladesh and internationally. It recently launched a website in support of its plans to expand its work into areas related to microfinance, such as poverty, rural finance, savings, impact assessment and gender issues. Headed by Executive Director M.A. Baqui Khalily, InM plans to collaborate with national and international universities to offer professional degrees and conferences to microfinance professionals. Professor Khalily hopes the website will grow into an extensive source of national and international news, data and information on microfinance. InM invites comments, suggestions and queries via email at email@example.com.
SEVENTH ANNUAL ROUNDTABLE ON CARIBBEAN MICROFINANCE
MAY 13-15, 2008, WYNDHAM NASSAU RESORT, BAHAMAS
Sponsored by the Caribbean Microfinance Network, this year’s conference will cover: portfolio expansion issues and solutions, portfolio quality challenges facing Caribbean microfinance institutions (MFIs), governance and internal controls in MFIs, recruiting and training staff, loan accounting software and the youth and women market segments. Continue reading
The Fundación BBVA para las Microfinanzas (BBVA Foundation for Microfinance) received permission from Peru’s Superintendent of Banks, Insurance, and AFP (SBS) to acquire the Edpyme Crear Tacna. The Fundación BBVA can purchase more than 10 percent of the microfinance institution (MFI)’s capital stocks. Continue reading
Aloysius P. Fernandez is Executive Director of rural development NGO MYRADA and Chairman of the Board of microfinance institution Sanghamithra Rural Financial Services.
MicroCapital: How did you get started in social finance?
AF: During the 1971 Bangladesh War, running a refugee program, I discovered the poverty and suffering there. I began to understand the causes of poverty, and I said: “Well, I’ve got to intervene in some way. Should I intervene in land? That’s difficult. Should I intervene in wages? That’s difficult.” So I said, “Let’s look at capital.” Then, we started cooperative societies, and these cooperatives broke down…. Continue reading
TENTH ANNUAL IFC GLOBAL PRIVATE EQUITY CONFERENCE
MAY 15-16, 2008, WASHINGTON, DC, UNITED STATES
International Finance Corporation (IFC), in association with the Emerging Markets Private Equity Association (EMPEA), presents this conference themed “Creating Opportunities and Building Value.” As emerging markets private equity continues to raise unprecedented funds for investment, this conference will explore the creation of opportunities and building value. A USD 200 discount, available until April 4, is reflected in the following prices: USD 1295 for general registration and USD 895 for EMPEA members and international financial institutions. Details and online registration are available at the conference website or via Cathy Fenn at +1 516 765 9005 x21.
The Consultative Group to Assist the Poor (CGAP) recently reported Oikocredit, a Dutch cooperative fund invested USD 4.7 million in loans to microfinance institutions in India and Ghana this past February 2008. A loan of USD 1.2 million went to Semam Microfinance Investment Literacy and Empowerment PVT (SMILE) of Madurai, India. Gram-Utthan, a CARE CASHE project in Orissa, India received a loan of USD 1.5 million, and Amalgamated Bank Limited of Ghana was granted a loan of USD 2 million. Continue reading