Khushhali Bank, a microfinance institution (MFI) in Pakistan, has signed an agreement with Smart and Renewable Energy Solutions (SRE Solutions), a Pakistan-based firm that offers solar energy products, to provide financing for “Solar Magic Box,” a device manufactured and sold by SRE Solutions that generates electricity from the sun [1].
Search Results for: Khushhali Bank
MICROCAPITAL BRIEF: Khushhali Bank of Pakistan Takes Branches Online Allowing Customers to Be Served at Multiple Branches
Khushhali Bank, a microfinance institution (MFI) based in Pakistan, reportedly has launched an online banking system that “makes the customer of one branch, a client of the entire bank, enabling him to avail its services irrespective of location.”
MICROCAPITAL BRIEF: Afghani Microfinance Organizations, Pakistan’s Khushhali Bank Mull Collaboration
At a recent meeting, microfinance officials from Afghanistan and Pakistan opined that working together to develop and promote financial infrastructure that supports microfinance could benefit the two countries.
MICROCAPITAL BRIEF: Pakistan’s Khushhali Bank Partnering With Western Union to Offer International Remittances
Khushhali Bank, a Pakistani microfinance bank, and Western Union, an American financial services and communications company, have signed an agreement to introduce international inbound remittance services in 76 districts across Pakistan, beginning with Karachi, Lahore and Rawalpindi.
MICROCAPITAL STORY: Top Pakistani Microfinance Institution Khushhali Bank Moving Into Private Sector
Khushhali Bank (KB) has converted to a public limited company as of April 1, according to Pakistan’s English-language newspaper The Nation. KB was established in 2000 with support from the Asian Development Bank as part of the government’s Microfinance Sector Development Program. The Nation reports that KB is now incorporated with the Securities & Exchange Commission of Pakistan (SECP) and is licensed by State Bank of Pakistan to operate under Microfinance Institutions Ordinance 2001, which allows institutions to accept deposits. It is not clear whether SECP incorporation frees KB’s shareholders their pre-existing requirement to gain approval from the State Bank of Pakistan before selling shares.
MICROCAPITAL STORY: Khushhali Bank (KB) of Pakistan to Receive Human Resource Training Support from ShoreBank International (SBI) Under Widening Harmonized Access to Microfinance (WHAM) Program
Khushhali Bank (KB), a Pakistani microfinance institution, signed a contract to receive consulting, training and technology support of ShoreBank International, Limited (SBI), the international consulting arm of ShoreBank Corporation. The SBI will develop and deliver to KB a customized training on staff management and financial analysis & management, under the Widening Harmonized Access to Microfinance (WHAM). WHAM, a program implemented by SBI, is sponsored by the United States Agency for International Development (USAID) as a part of USD 1.5 billion, 5-year-long USAID aid to Pakistan.
MICROFINANCE BRIEF: Pakistan’s Khushhali Microfinance Bank Borrows $20m from ADB for Farmers, MSMEs
The Asian Development Bank (ADB), a Philippines-based multilateral institution, recently announced it will loan USD 20 million to Khushhali Microfinance Bank Limited of Pakistan to “expand access to credit for agriculture-related borrowers and small businesses.”
MICROCAPITAL BRIEF: United Bank Limited, Rural Impulse Fund II, ResponsAbility Global Microfinance Fund, Shorecap II, ASN-Novib Acquire 67% of Pakistani Microfinance Institution Khushhali
A consortium led by United Bank Limited (UBL), a Pakistani commercial bank with total assets of PKR 747 billion (USD 8.2 billion) as of December 2010 [2], reportedly has been selected as the highest bidder for 67.4 percent of the shares of Pakistani microfinance institution Khushhali Bank Limited, whose gross loan portfolio stood at USD 43.5 million as of December 31, 2010 [1].
MICROCAPITAL BRIEF: Khushali Microfinance Bank, Sindh Graduates Association Partner on Financial, Vocational Education for Women in Rural Pakistan
Pakistan’s Khushali Microfinance Bank recently initiated a collaboration with Sindh Graduates Association (SGA), an organization mobilizing university graduates in the Pakistani province of Sindh, on a program intended to increase women’s living standards. In particular, the programme targets the female population in the Sindh village of Mirpurkhas with training in tailoring and financial topics such as how to use
MICROCAPITAL BRIEF: Pakistan’s Habib Bank Limited (HBL) Establishes Branchless Banking Service “HBL Express”
Habib Bank Limited (HBL), a Pakistani commercial bank, has implemented a new branchless banking service, HBL Express.
MICROCAPITAL BRIEF: State Bank of Pakistan (SBP) Reports 13% Quarterly Decline in Microfinance Bank Deposits, Slow Recovery After 2010 Floods
Pakistan’s central banking authority, the State Bank of Pakistan (SBP), has reportedly stated that the value of deposits at microfinance banks (MFBs) in the country decreased from PKR 10.3 billion (USD 120 million) as of December 31, 2010, to PKR 8.9 billion (USD 104 million) as of March 31, 2011.
MICROCAPITAL STORY: State Bank of Pakistan (SBP) Issues Guidelines for Islamic Microfinance Services
The State Bank of Pakistan (SBP) recently issued ‘Guidelines for Islamic Microfinance Business by Financial Institutions,’ a series of guidelines intended to increase the scope of microfinance services and products which comply with Islamic law (Shari’a or Sharia) and to bring providers of such microfinance services under its regulatory umbrella. ‘Halal’ – literally ‘permissible’ in Arabic – refers to practices which are sanctioned by the Shari’a. The SBP guidelines specify provisions whereby four types of institutions can offer halal microfinance services to clients: Islamic financial institutions, Islamic microfinance institutions, conventional financial institutions, and conventional microfinance institutions (MFIs). At the end-year 2006, there were six full-fledge Islamic banks (pg 3) and 12 conventional banks with Islamic banking branches in Pakistan. As yet, no Islamic microfinance institutions have been established in the country.
MICROCAPITAL BRIEF: MicroFinanza Rating Issues 13 Institutional, Social, Client-protection Credentials to Microfinance Institutions in Albania, Morocco, Namibia, Asia, Latin America
During July and August, Italy’s MicroFinanza Rating (MFR) issued five microfinance institutional ratings. Morocco’s Attadamoune Micro-Finance was assigned the grade B+ with a stable outlook. Ecuador’s Fundación Espoir and Albania’s FED Invest both earned grades of BB with stable outlooks. Two institutions earned grades of
MICROCAPITAL BRIEF: Microfinance Providers in Pakistan Report 19.4% Increase in Savings, 5.55% Increase in Microinsurance Clients in Second Quarter of 2013
Between April and June of 2013, the value of savings held by Pakistan’s microfinance providers (MFPs) reportedly increased by 19.4 percent from the previous quarter to total PKR 30 billion (USD 282 million).
MICROCAPITAL BRIEF: Bill & Melinda Gates Foundation Awards $38m in Grants to Help Microfinance Institutions Expand Savings Initiatives for Poor
The Bill & Melinda Gates Foundation has awarded six grants worth a total of USD 38 million to help 18 microfinance institutions (MFIs) expand or launch savings initiatives.
MICROFINANCE EVENT: 3rd International Microfinance Country Forum 2009, November 21, 2009, Islamabad, Pakistan
Event Name: 3rd International Microfinance Country Forum 2009
Event Location: Islamabad, Pakistan (Specific location unspecified)
Event Description: The day-long conference, with emphasis on “Mass Accessibility & User-friendly Resources” will include five interactive sessions, where speakers and practitioners from government, NGOs, trade and international bodies will present their papers to provide insight and suggest recommendations for policy reform. The conference aims to facilitate dialogue and deliberations among the industrial and economic experts for taking microfinance in Pakistan to the next level. It is designed to attract Pakistan’s biggest assembly of microfinance practitioners, the regulatory and facilitating bodies, key stakeholders and the national print & electronic media.
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
MICROCAPITAL STORY: Pakistani Microfinance Institutions Charged with Deceiving Borrowers
Pakistani Microfinance Institutions (MFIs) found themselves in heavy criticism at a workshop on the state of microfinance held in Islamabad. The workshop was organized by the Planning Commission of the Government of Pakistan to revisit the policies in place for MFIs and determine recommendations for the future of the industry.
MICROCAPITAL STORY: Revamping Pakistan’s Microfinance Sector: Government Reveals Aggressive Goals in Second Poverty Reduction Strategy Policy Paper
As a part of a new policy matrix added to Pakistan’s Poverty Reduction Strategy Paper (PRSP)-II, new goals for the microfinance industry in Pakistan have been established, it was announced in the Daily Times. A target was set for the amount of microfinance lending throughout the sector in 2008/2009 to total Rs 37 billion (USD 468 million), and for the number of active borrowers to increase to 3 million for 2009/2010, and to 10 million by 2015. Additionally, for 2008/2009, it is intended for National Rural Support Programme (NRSP) to become a microfinance institutions (MFIs), and for the Microfinance Credit Guarantee Facility to be launched. Khushali Bank will also be granted legal status under MFIs Ordinance 2001 in this time period. By 2009/2010, a Community Investment Fund (CIF) will be launched, along with a feasibility credit rating mechanism for small borrowers.