MICROCAPITAL BRIEF: Indonesia’s Excelcomindo Axiata Launches International Remittance Service

Excelcomindo (XL) Axiata, an Indonesian telecommunications subsidiary of Malaysia-based Axiata Group, reportedly has launched its “XL Tunai International Remittance” service, allowing customers to receive money transfers from 110 countries via text messages, a method known as short messages service (SMS). Continue reading

MICROCAPITAL BRIEF: National Insurance Commission of Ghana Announces New Regulatory Regime, New Book Released on Promoting Microinsurance in the Country

The National Insurance Commission (NIC) of Ghana, the country’s regulatory authority for the industry, reportedly has announced a new set of regulations that aims to formalize and facilitate the sale of microinsurance products. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development, Raiffeisen Bank Aval, John Deere Partner to Provide Farming Equipment in the Ukraine

The European Bank for Reconstruction and Development (EBRD), a multilateral development finance institution headquartered in London, and Raiffeisen Bank Aval, a subsidiary of Austria’s Raiffeisen Bank International, have partnered to issue loans to Ukrainian farmers so that they can purchase farming equipment from a third partner in the project, US-based agricultural machinery provider John Deere. Continue reading

MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Donate $2m to Microinsurance Catastrophe Risk Organization (MiCRO) of Barbados, Insurer to Haiti’s Fonkoze

The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced plans to donate USD 1.96 million to the Microinsurance Catastrophe Risk Organization (MiCRO), a Barbados-based company that was established in 2011. Continue reading

MICROCAPITAL BRIEF: State Bank of Pakistan Issues License for U Microfinance Bank to Operate Nationwide

The State Bank of Pakistan (SBP), the nation’s central banking authority, reportedly has issued a national-level microfinance banking license to U Microfinance Bank Limited, a Pakistani microfinance institution (MFI) that was formerly known as Rozgar Microfinance Bank. Continue reading

MICROCAPITAL BRIEF: Austria’s Vision Microfinance Funds Loan $5m to MFIs in Colombia, Mexico, Paraguay

Austria-based asset management company Absolute Portfolio Management (APM) recently announced that it has disbursed the equivalent of USD 5 million to microfinance institutions (MFIs) in Latin America through its two Dual Return-Vision Microfinance funds in early 2013. Continue reading

MICROCAPITAL BRIEF: International Finance Corporation (IFC), Yes Bank to Create Fund for Small Businesses in India

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has partnered with Yes Bank, a commercial bank headquartered in Mumbai, to establish a fund to support small businesses in northeast India. Continue reading

MICROFINANCE EVENT: AITEC Banking and Mobile Money West Africa, July 10 – 11, 2013, Accra, Ghana

Event Name: African Information & Communication Technology Exhibition & Conference’s (AITEC’S) Banking and Mobile Money in West Africa 2013: “Consolidating and monetizing the gains of innovation”

Event Date: July 10 – 11, 2013

Event Location: Accra International Conference Centre, Accra, Ghana Continue reading

MICROCAPITAL BRIEF: Pakistan Poverty Alleviation Fund (PPAF) Launches Weather-index Microinsurance in Khushab, Chakwal

The Pakistan Poverty Alleviation Fund (PPAF), a public-private partnership, reportedly has launched a weather-indexed microinsurance pilot project covering crop and livestock in the districts of Khushab and Chakwal. Continue reading