Queen Noor of Jordan, the founder and chairperson of the King Hussein Foundation (KHF), recently announced the launch of Ethmar, a microfinance institution (MFI) that is compliant with Shariah, the Islamic legal system. Continue reading
Bandhan Bank, an Indian commercial bank based in Kolkata, recently announced that it plans to open one branch each in the cities of Bengaluru, Koramangala and Bannerghatta, all of which are located in southern India. Continue reading
The Asian Development Bank (ADB), a Philippines-based multilateral development finance institution, has committed to loaning USD 400 million toward its Financial Market Development and Inclusion Program (FMDIP) for Indonesia. Continue reading
During August 2015, Austrian asset manager C-Quadrat Asset Management issued loans worth the equivalent of USD 7 million via its two Vision Microfinance funds to unspecified microfinance institutions (MFIs) in Cambodia, Ecuador, Nicaragua, Nigeria and India. Continue reading
The Microfinance Institutions Network (MFIN), a trade organization composed of 47 Indian microlenders, has advised its members to reduce their interest rates voluntarily by “at least 25 basis points”  by the end of September 2015. Continue reading
Starbucks Coffee Company, a US-based coffee retailer, recently announced that it would commit an additional USD 30 million to its Global Farmer Fund program, one of the organization’s “ethical sourcing initiatives” that aims to ensure the sustainability of the organization’s production chain up to 2020. Continue reading
IFMR Holdings, an arm of Indian nonprofit IFMR Trust, recently raised USD 25 million from Accion, a US-based nonprofit organization; LeapFrog Investments, a for-profit private equity fund based in Mauritius; and Lok Capital, an India-based microfinance investment vehicle. Continue reading
The government of Peru recently enacted a National Financial Inclusion Strategy (NFIS) after consultation with the World Bank Group (WBG), a multilateral development organization that aims to improve living standards in developing countries. Continue reading
The European Bank for Reconstruction and Development (EBRD), a multilateral investment institution headquartered in London, England, is considering extending a credit line of USD 70 million to the National Bank of Kuwait-Egypt (NBK-Egypt), a commercial bank based in Cairo, Egypt. Continue reading
Event Name: World Savings Bank Institute (WSBI) Eastern Europe and Central Asia (EECA) Meeting 2015
Event Dates: September 30 – October 1, 2015
Event Location: Renaissance Minsk Hotel, Minsk, Belarus Continue reading
Event Name: 1st International Investors Forum on Microfinance
Event Date: September 8-9, 2015
Event Location: African Regent Hotel, Accra, Ghana Continue reading
The International Finance Corporation (IFC), a member of the US-based World Bank Group that aims to increase economic growth in developing countries, recently announced that it will partner with the Ministry of the Economy of Belarus “to improve the business environment through measures that will support the growth of small, medium-sized enterprises (SMEs)”.
Janalakshmi Financial Services, a Bangalore-based microfinance institution (MFI) that offers lending and insurance services to low-income households in India, recently announced that it had raised a total of INR 1.77 billion (approximately USD 27.7 million) through the issuance of non-convertible debentures (NCDs) and an unsecured term loan.
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership that aims to promote growth in developing economies, recently announced that it will disburse a syndicated loan in local currency equivalent to USD 15 million to FINCA Bank Kyrgyzstan, a subsidiary of the US-based nonprofit microfinance network Foundation for International Community Assistance (FINCA) International.
The Micro Units Development and Refinance Agency (MUDRA) Bank, an Indian public-sector financial institution that provides subsidized loans to microfinance institutions (MFIs) and non-banking financial institutions, recently announced that it had disbursed loans totalling INR 620 million (approximately USD 9.3 million) to MFIs in India.
The Philippine Senate has recently passed Senate Bill 2752, also called the Microfinance NGOs Act, which directs the Securities and Exchange Commission (SEC), an agency of the Philippine government regulating the securities market in an effort to promote economic efficiency, to establish the Microfinance Non-Governmental Organization (NGO) Regulatory Council.  Continue reading
For an undisclosed price, Base of Pyramid Asia (BOPA), a Singapore-based equity investor in small, Asian microfinance institutions (MFIs), recently purchased a 25-percent stake in Elet-Capital, a Kyrgyzstan-based MFI. Continue reading
Ujjivan Financial Services Private Limited, a microfinance institution (MFI) based in Bangalore, India, recently announced that it has raised INR 500 million (approximately USD 7.85 million) from United Trust of India (UTI), a mutual fund company based in Mumbai, India, through the issuance of secured, non-convertible debentures (NCDs).