CGAP (Consultative Group to Assist the Poor), a policy and research center; Deutsche Bank, a European commercial bank with a microfinance program; Grameen-Jameel, a company that provides support to microfinance institutions (MFIs); and the Islamic Development Bank, an international finance institution, recently announced the Islamic Microfinance Challenge, a contest intended to promote the innovative design of Shariah-compliant products for Islamic microfinance clients.
MICROCAPITAL BRIEF: People’s Bank of China (PBOC) to Legalize Private Lending and Remove Cap on Interest Rates Charged by Microfinance Institutions (MFIs)
The People’s Bank of China (PBOC), the central bank of China, has announced plans to legalize private lending and remove a cap on interest rates charged by microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Arab Gulf Program for United National Development Organizations (AGFUND) Unveils Plans to Open Microfinance Banks in Jordan, Lebanon and Sudan
The Arab Gulf Program for United National Development Organizations (AGFUND), a regional non-profit development institution, recently announced that it will establish microfinance banks in Jordan, Lebanon, and Sudan within the next few months.
MICROCAPITAL BRIEF: XBRL International Publishes Case Study from The Microfinance Information Exchange (MIX)
XBRL International has published a case study from the nonprofit Microfinance Information Exchange (MIX) outlining MIX’s efforts to implement and develop an XBRL (eXtensible Business Reporting Language) taxonomy for microfinance.
MICROCAPITAL BRIEF: MasterCard Foundation, CARE Canada, Aga Khan Foundation Canada (AKFC) to Extend Microfinance Services in Tajikistan and Rwanda
The MasterCard Foundation, a private Canadian foundation that supports microfinance; CARE Canada, an international humanitarian organization; and the Aga Khan Foundation Canada (AKFC), a nonprofit organization that supports international development, recently announced that they are providing CAD 9 million (the equivalent of USD 8.8 million) to fund two new programs that aim to extend savings services to 900,000 residents of Tajikistan and Rwanda.
MICROCAPITAL BRIEF: Banco de Comércio e Indústria (BCI), a Bank Located in Angola, Launches Microcredit Program
Banco de Comércio e Indústria (BCI), an Angolan bank majority-owned by the Angolan government, recently launched a microcredit program that is expected to benefit 50,000 people across the country by 2012, the bank’s chairman, Adriano Silva, said.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases Third Annual Global Ranking of Microfinance Institutions (MFIs)
The Microfinance Information Exchange (MIX), the microfinance information clearinghouse, recently released its third annual ranking of microfinance institutions (MFIs), The Mix Global 100.
MICROCAPITAL BRIEF: India’s Microfinance Institutions Network (MFIN) Members to Create Credit Bureau in an Effort to Prevent Client Overindebtedness and Maximize Repayment
India’s Microfinance Institutions Network (MFIN), a self-regulatory organization of 31 of India’s largest microfinance companies, recently said its members will provide borrowers’ names, addresses and loan details to a credit bureau they have created, Alpha Micro Finance Consultants P Ltd (Alpha), in an effort to prevent client overindebtedness and maximize repayment.
MEET THE BOSS: Discussions on Microfinance Investment Vehicles (MIVs) and Impact Investing: Interview with Paul DiLeo, Co-Founder and Managing Partner of Grassroots Capital
Paul DiLeo, Managing Partner at Grassroots Capital, plays a role in attracting private capital to the company, creating investment vehicles to address market gaps and raising funding to support new initiatives. Mr. DiLeo launched and now co-manages the Global Microfinance Equity Fund and the Gray Ghost Microfinance Fund, which is a private, for-profit microfinance fund originally established to demonstrate the viability of microfinance investment. He obtained his bachelor’s degree from the University of Massachusetts (US), has a master’s degree from Boston University (US) and completed studies in business accounting and finance at New York University (US).
MEET THE BOSS: Interview with Craig Churchill, Head of the International Labour Organization’s (ILO’s) Microinsurance Innovation Facility
Craig Churchill serves as the Chair of the Microinsurance Network and as Senior Technical Officer of the International Labour Organization’s (ILO’s) Social Finance Programme.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), IBM and Republic Bank Launch Software Platform for Small and Medium-Sized Enterprises in Guyana
The International Finance Corporation (IFC), a member of the World Bank Group; IBM, a multinational computer corporation based in the United States; and Republic Bank Ltd., a commercial bank in the Caribbean, recently launched a free, online platform that aims to help small and medium-sized enterprises (SMEs) improve their performance.
MICROCAPITAL BRIEF: Fundacion Mundo Mujer (FMM) to Become Regulated Financial Institution in Colombia Specializing in Microfinance with $6m Loan from International Finance Corporation (IFC)
he International Finance Corporation (IFC), the lending arm of the World Bank, recently announced that it would provide advisory services and a USD 6 million loan to Fundacion Mundo Mujer (FMM), a Colombian nongovernmental organization (NGO) that offers microcredit services, in order to help FMM transform into a regulated financial institution.
MICROFINANCE EVENT: Second China Microfinance Investor Conference to Be Hosted in Beijing March 25 – March 26, 2010
Event Name: The Second China Microfinance Investor Conference
Event Date: March 25 – March 26, 2010
Event Location: Beijing, China
Event Website: http://www.gtz-china.org/finance/microfinance-investor-conference-2010/
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
Cost: There is no fee to attend
Summary of Event:
This conference will review the current status of microfinance in China and discuss prospects for its future. Participants will have the opportunity to network with Chinese microfinance institutions and international investors.
MICROCAPITAL BRIEF: Local Government to Launch Microfinance Program in Selangor, Malaysia
The government of the Malaysian state Selangor recently announced that it would set up a microfinance program in an attempt help low-income residents increase their earnings.
MICROCAPITAL BRIEF: Janalakshmi Financial Services (JFS), a Microfinance Institution (MFI) Located in India, Raises $10m from Funders Including Tree Line Asia Master Fund (Singapore) Private Limited and Bellwether Microfinance Fund
Janalakshmi Financial Services (JFS), a microfinance institution (MFI) located in India, has raised INR 45.8 crore, the equivalent of over USD 10 million, in a second round of funding.
MICROCAPITAL BRIEF: AccessBank, a Microfinance Institution (MFI) Located in Azerbaijan, Reaches $300m in Loans Disbursed to 100,000 Customers
According to a recent press release, AccessBank, a microfinance institution (MFI) located in Azerbaijan, now has a loan portfolio that is over USD 300 million and over 100,000 customers.
MICROCAPITAL BRIEF: SKS Microfinance, a Microfinance Institution (MFI) Based in India, Expected to File for Initial Public Offering (IPO) in Next Four Weeks
SKS Microfinance Limited, a microfinance institution (MFI) based in India, is expected to file for an initial public offering (IPO) in the next three to four weeks, according to three sources that news provider, Reuters, does not name.
MICROCAPITAL BRIEF: PlaNIS Study Finds that Funds Dedicated to Microfinance Saw Assets Increase by 16 Percent in 2009
According to a study by PlaNIS, a PlaNet Finance entity that advises microfinance investment funds, European funds dedicated to microfinance have increased their assets by 16 percent in 2009.