Thai Credit Retail Bank (TCRB), a Thai bank that offers financial services to small and medium-sized enterprises (SMEs) and retail customers, recently restructured to focus on the microfinance sector. Continue Reading »

Muthoot Fincorp Limited, an Indian non-banking finance company (NBFC), recently announced plans to sell INR 1 billion (USD 18.6 million) in non-convertible debentures (NCBs) to fund its expansion into the small and medium-sized enterprises (SMEs) and microfinance as a means of diversifying away from gold loans. Continue Reading »

The International Finance Corporation (IFC), a member of the US-based World Bank Group, and Jordan Ahli Bank, a Jordan-based financial institution, recently launched the SME Toolkit, an initiative of IFC, in Jordan. Continue Reading »

The Insurance Regulatory and Development Authority (IRDA), the regulatory body of the insurance industry in India, recently issued a circular expanding the types of entities eligible to serve as microinsurance agents and clarifying existing regulations that bar multiple microinsurance agents from employing the same individuals. Continue Reading »

The International Finance Corporation (IFC), the commercial arm of the US-based World Bank Group, is working with the Central Bank of Belize, the country’s financial regulatory body, to launch a credit-reporting system that will allow financial institutions to exchange credit information. Continue Reading »

The Luxembourg Fund Labeling Agency (LuxFLAG), a nonprofit organization that investigates whether investment vehicles actually support the microfinance and environment sectors, is accepting applications from microfinance investment vehicles (MIVs) for its annual Microfinance Label until May 7, 2013. Continue Reading »

Utkarsh Micro Finance Private Limited (Utkarsh), an Indian microfinance institution (MFI), reportedly has received an INR 200 million (USD 3.7 million) equity investment from Norwegian Microfinance Initiative (NMI) Frontier Fund, which provides technical and financial support to “emerging” microfinance institutions under the management of the public-private partnership NMI; Aavishkaar Goodwell India Microfinance Development Company (AG), an Indo-Dutch for-profit investor in Indian MFIs; and the International Finance Corporation, the private-sector investment arm of the World Bank Group. Continue Reading »

Microfinance institutions (MFIs) in Rwanda reportedly are calling for the government to change tax laws affecting microfinance such that MFIs are taxed as traditional commercial banks. Continue Reading »

“Microfinance Institution Tier Definitions;” published by MicroRate; April 2013; 2 pages; available at http://www.microrate.com/media/downloads/2013/04/MicroRate-White-paper-Microfinance-Institution-Tier-Definitions.pdf

This report proposes a “tier system that defines microfinance institution [MFI] peer groups by institutional maturity to provide a foundation for industry analysis and informed dialogue.” Continue Reading »

Nationwide Microbank, a microfinance institution (MFI) in Papua New Guinea, recently launched MiLife, a mobile microinsurance product covering the life of low-income married couples. Continue Reading »

Caspian Advisors Private Ltd., an Indian investment management and advisory services company specializing in the socially-responsible arena, recently launched the Caspian Impact Investments (CII) fund, which is targeted to raise USD 40 million for projects in the areas of microfinance, small business financing, affordable housing and agriculture. Continue Reading »

The Alliance for Financial Inclusion (AFI), a Thailand-based network of financial policymakers from approximately 85 countries, recently launched the African Mobile Phone Financial Services Policy Initiative (AMPI), which will aim to address barriers to the “uptake of mobile financial services” in Africa. Continue Reading »

By Michal Matul, Aparna Dalal, Ombeline De Bock and Wouler Gelade, published by Microinsurance Innovation Facility, February 2013, 31 pages, available at: http://www.ilo.org/public/english/employment/mifacility/download/mpaper20_buy.pdf

This paper published by the Microinsurance Innovation Facility, a Switzerland-based initiative of the UN’s International Labour Organization, examines the “determinants of demand” for microinsurance products in the developing world and looks at why, despite its potential to mitigate risk, the demand for microinsurance is low. Continue Reading »

The Rockefeller Foundation, a US-based organization, and the Tony Elumelu Foundation, a Nigeria-based organization, recently announced the launch of the Impact Economy Innovations Fund (IEIF), an impact investment fund operating across Africa. Continue Reading »

The African Guarantee Fund (AGF), a Kenya-based organization that aims to increase financial access by underwriting commercial bank lending to small and medium-sized enterprises (SMEs) in Africa, recently reached an agreement with Commercial Bank of Africa (CBA), a bank based in Kenya, for a KES 200 million (USD 2.3 million) guarantee and with Kenya-based bank Investments & Mortgages Limited (I&M Bank) for a guarantee of KES 100 million (USD 1.2 million) to support the banks’ on-lending to SMEs. Continue Reading »

The European Bank for Reconstruction and Development (EBRD), an international finance institution headquartered in London, plans to provide a financing facility of EUR 150 million (USD 197 million) to Isbank, a Turkish commercial bank. Continue Reading »

Tameer Microfinance Bank Limited (TMFB), a Pakistani organization majority-held by Norwegian telecom Telenor, and Pakistan Mercantile Exchange Limited (PMEX), a Pakistani commodity exchange company owned by six stock exchanges and banks affiliated with the Pakistani government, recently signed a memorandum of understanding (MoU) to offer a gold-based investment product. Continue Reading »

The Schwab Foundation for Social Entrepreneurship, a Switzerland-based nonprofit, and the Jubilant Bhartia Foundation, an Indian nonprofit, have announced that they are now accepting applications for the 2013 Indian “Social Entrepreneur of the Year Award.” Continue Reading »