The microfinance industry in Pakistan is anticipating PKR 3 billion (USD 35 million) of financial losses due to recent floods and subsequent damages.
MICROCAPITAL BRIEF: Lagos State Government Commits $8.5m to Microfinance Banks through Lagos State Microfinance Institution
The Lagos State government recently announced it has committed NGN 1.3 billion (USD 8.5 million) to the Lagos State Microfinance Institution (LASMI) for distribution to microfinance banks in Nigeria.
MICROCAPITAL BRIEF: East African Community (EAC) Seeks to Align Microfinance Institution Regulation
The National Bank of Rwanda (BNR) recently announced that it hosted a regional meeting of central bankers and regulators to discuss the alignment of rules and regulations that govern the microfinance industry within the countries of the East African Community (EAC), which includes the Republics of Kenya, Uganda, Rwanda and Burundi and the United Republic of Tanzania.
MICROCAPITAL BRIEF: Indian Microfinance Institution Ujjivan Financial Services Announces Launch of New Short-Term Business Loan Product
Ujjivan Financial Services, an Indian microfinance institution, recently announced the launch of its new short-term business loan (STBL) product in Delhi, India.
MICROCAPITAL BRIEF: Indian Microfinance Institution Spandana Sphoorty Reports $3b of Cumulative Disbursements
Spandana Sphoorty Financial Limited, an Indian microfinance institution, recently announced that it had loaned a total of INR 151 billion (USD 3 billion) since its founding in 1998 through August 31, 2010.
MICROFINANCE PAPER WRAP-UP: Building Houses, Financing Homes; by Anamitra Deb, Ashish Karamchandani and Raina Singh; Published by Monitor Inclusive Markets
By Anamitra Deb, Ashish Karamchandani and Raina Singh, Published by Monitor Inclusive Markets, July 2010, 16 pages, available at: http://www.monitor.com/Portals/0/MonitorContent/imported/MonitorUnitedStates/Articles/PDFs/Monitor_Inclusive_Markets_Building_Houses_Financing_Homes_exec_summary.pdf
In this paper, Anamitra Deb, Ashish Karamchandani and Raina Singh examine the future of housing development and finance for the low-income population of urban India, specifically Ahmedabad and Mumbai.
MICROCAPITAL BRIEF: Microfinance Institutions (MFIs) Begin Exploring Student Loan Market
Microfinance institutions are beginning to experiment with education loans, potentially allowing students to achieve higher levels of education and income.
MICROCAPITAL EVENT: Intellecap Hosts 2010 Srijan Financial Inclusion Forum and Awards in Mumbai, India, October 7 – 8, 2010
Event Name: 2010 Srijan Financial Inclusion Forum
Event Date: October 7, 2010 – October 8, 2010
Event Locations: Taj Land’s End, Mumbai, India
MICROCAPITAL EVENT: Center for Financial Inclusion (CFI) Hosts “Understanding Failures in Microfinance” in Washington, DC on September 22, 2010
Event Name: Understanding Failures in Microfinance
Event Date: September 22, 2010
Event Location: Center for Financial Inclusion, Washington, DC, USA
MICROCAPITAL BRIEF: Microfinance Investment Manager BlueOrchard Finance Invests $8m in Armeconombank of Armenia, Hattha Kaksekar Limited of Cambodia and KazMicrofinance of Kazakhstan
BlueOrchard Finance SA, a subsidiary of Switzerland-based commercial microfinance intermediary BlueOrchard, recently reported to MicroCapital the details of three debt investments made during the month of August 2010 to financial institutions Armeconombank of Armenia, Hattha Kaksekar Limited of Cambodia and KazMicrofinance LLC of Kazakhstan.
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Provides $29.1m in Guarantees Toward Brazilian Securitized Fund for SMEs
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has committed to issue a BRL 50 million (USD 29.1 million) guarantee for investors in a fund that securitizes loans originated by Banco Industrial Comercial S.A.
MICROCAPITAL BRIEF: Micro Housing Finance Corporation (MHFC) of India Achieves $2.16m in Loan Sanctions
The Micro Housing Finance Corporation (MHFC), an India-based housing finance company established in 2008, has reported to MicroCapital that it has reached INR 100 million (USD 2.16 million) in loan sanctions.
MICROCAPITAL BRIEF: Central Bank of Nigeria to Discontinue Issuance of Universal Banking Licenses, Introduce Three New Banking License Classes in 2011, Microfinance to Fall Under “Specialized” Category
The Central Bank of Nigeria (CBN), Nigeria’s central banking authority, recently announced that in January 2011 it will introduce three new classes of banking licenses—for commercial banking, merchant banking and specialized banking—as well as discontinue the issuance of universal banking licenses.
MICROCAPITAL BRIEF: Indian Financial Company, SE Investments Limited, Plans to Expand Microfinance Activities into Uttarakhand and Rajasthan States, Add 100,000 New Clients
SE Investments Limited, a Delhi-based public limited company with approximately 200,000 active borrowers, recently announced that it plans to expand microfinance activities into Uttarakhand and Rajasthan states and add 100,000 new clients.
MICROCAPITAL BRIEF: Microfinance Institution SeedFinance Corporation and Smart Communications Inc, Both of the Philippines, Partner to Provide Mobile Money Services through “Islands Activation Program”
SeedFinance Corporation, a microfinance institution in the Philippines, and Smart Communications Inc (Smart), a telecommunications subsidiary of the Philippine Long Distance Telephone Company, have partnered to launch the Islands Activation Program (IAP), an initiative to bring mobile-based financial products and technologies to previously untargeted islands of the Philippines.
MICROCAPITAL BRIEF: State Bank of India and Oxigen Private Limited Install First 80 Microfinance Kiosks in Mumbai and Delhi
The State Bank of India (SBI), a state-owned financial services company in India, and Oxigen, an Indian bill-payment and prepaid-recharge company, recently announced details of their joint program to install banking kiosks in local grocery shops.
MICROCAPITAL BRIEF: Haitian Microfinance Institution (MFI) Fonkoze Releases 2009 Social Performance Report
Fonkoze, a microfinance institution established in Haiti in 1994, recently announced the release of its 2009 Social Performance Report, “Accompanying Our Clients Along the Staircase out of Poverty.”
MICROCAPITAL BRIEF: Social Investment Company responsAbility Makes Debt Investments Totaling $2.5m in FINCA Kosovo and fondiBESA of Albania
responsAbility Social Investments AG (responsAbility), a social investment company founded in 2003 in Switzerland, reported to MicroCapital that it made four debt investments during the month of August totaling EUR 2 million (USD 2.5 million) to microfinance institutions (MFIs) Foundation for International Community Assistance (FINCA) Kosovo and fondiBESA of Albania.