by Ben Barba -

MICROCAPITAL BRIEF: Al-Qutaibi Funding Renewable Energy Products, Climate Adaptation Strategies for SMEs, Farmers in Yemen in Collaboration with USAID

Yemen’s Al-Qutaibi Islamic Bank for Microfinance recently launched its Vendor Finance Department to support farms and other small and medium-sized enterprises (SMEs) in acquiring technology to produce renewable energy as well as “climate-smart” farming tools such as “solar-fed irrigation systems, greenhouses, and tunnel farming tools.” The bank did this with support from the

by Zach Deluca -

MICROCAPITAL BRIEF: Aden Bank for Microfinance to Target MSMEs, Women, Youth in Yemen

Based on the authorization it received in October 2021 from the Central Bank of Yemen, Aden Bank for Microfinance is moving forward with plans to offer financial services in the country. Aden Bank is arranging partnerships with local

by Aakansha Shenoy -

MICROCAPITAL BRIEF: YCash Partnering with Red Cross on Digital Payments, Offering Door-to-door Service Due to COVID-19 Pandemic, Conflict in Yemen

YCash, a company in Yemen also known as the National Cash Transfer Company, recently partnered with the International Committee of the Red Cross (ICRC), a humanitarian organization based in Switzerland, to provide cash transfers to ICRC clients “through

by the MicroCapital Team -

MICROCAPITAL BRIEF: With “Homeland” App, MTN Opens Remittance Channels from Europe to Africa, Afghanistan, Yemen

South Africa’s MTN Group recently released an application for mobile phones called MTN Homeland that allows users to send money or airtime to 17 countries from Europe. The service allows cash remittances to Cameroon, Congo Brazzaville, Ghana, Guinea Conakry, Rwanda and Uganda. It also allows the sending of

by Jolene Khor -

MICROFINANCE PAPER WRAP-UP: “Toward Better Resilience During the War Crisis: Case Study of Three Microfinance Institutions in Yemen,” Published by the Macrothink Institute

By Nashwan Sabrah and Nabeel T Alsohybe, published by the Macrothink Institute, June 2019, 17 pages, available at http://www.findevgateway.org/library/toward-better-resilience-during-war-crisis-case-study-three-microfinance-institutions-yemen

Since 2015, conflict in Yemen has impacted businesses in the country, driving actors in the microfinance industry to adapt the services they provide. Based on interviews with 11 individuals working at three microfinance institutions (MFIs) in the country, this study describes some of the challenges confronted by the MFIs and

by Meredith Steih -

MICROFINANCE PUBLICATION ROUND-UP: Islamic Banking and Growth; Sharia-Compliant Microfinance Products; Islamic Financial Services in Yemen

“Is Islamic Banking Good for Growth?”; by Patrick Imam and Kangni Kpodar; published by the International Monetary Fund; April 2015; 33 pages; available at: http://www.microfinancegateway.org/library/islamic-banking-good-growth

This paper analyzes the relationship between the development of Islamic banking and economic growth in low- and middle-income countries, finding that “countries where Islamic banking is present experience faster economic growth than others” [1].

by Mathew Cerf -

MICROCAPITAL BRIEF: Sanad Fund for MSME Expands into Yemen with $3m Loan to Al-Amal Microfinance Bank

The Sanad Fund for MSME (micro-, small and medium-sized enterprise), a Germany-based fund providing medium- and long-term debt and equity financing in the Middle East and North Africa, recently disbursed a senior loan of USD 3 million to Al-Amal Microfinance Bank (AMB), a nonprofit minority-held by the government of Yemen, to support micro- and small enterprises (MSE) in the country.

by Nisha Koul -

MICROCAPITAL BRIEF: Al-Amal Microfinance Bank of Yemen to Receive $4.2m Donation from Saudi Fund for Development

The Al-Amal Microfinance Bank of Yemen has received a donation of USD 4.2 million from the Saudi Fund for Development (SFD), the international aid agency of the Saudi government [1].

by Michael Averell -

MICROCAPITAL BRIEF: World Bank Group (WBG) Announces “Financial Infrastructure Development Project” in Yemen; International Development Association (IDA) Provides Grant of $20m

The World Bank Group (WBG), a US-based development bank, recently announced a new initiative called the “Financial Infrastructure Development Project” that aims to improve the transparency and efficiency of Yemen’s financial system as well as increase the financial inclusion of low-income people in the country.

by Mihaela Grindeanu -

MICROCAPITAL BRIEF: Silatech, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) Partner with Al-Amal Microfinance Bank, Alkuraimi Islamic Microfinance Bank to Provide Microsavings for Youth in Yemen

Silatech, a Qatar-based social enterprise, and Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ), the development agency of the German government, have partnered with Al-Amal Microfinance Bank (AMB) and Alkuraimi Islamic Microfinance Bank (AIMB), both of Yemen, to extend financial access to Yemeni youth through a microsavings program.

by Rohan Trivedi -

MICROCAPITAL BRIEF: Survey Conducted by Yemen Microfinance Network (YMN) Indicates Microfinance Institutions Facing Operational Difficulties Because of Ongoing Political Tension

According to a survey conducted by the Yemen Microfinance Network (YMN), a member-based nonprofit organization, microfinance institutions (MFIs) in the country have been negatively affected by the ongoing political climate and are facing an uncertain future.

by Alex Pattee -

MICROCAPITAL BRIEF: CGAP Launches Islamic Microfinance Blog Series Featuring Finalists of Global Islamic Microfinance Challenge 2010: Al Amal of Yemen, Tanzania ecoVolunteerism, Bisma of Indonesia and Tameer, CWCD of Pakistan

The CGAP Microfinance Blog, which is operated by US-based think tank CGAP (Consultative Group to Assist the Poor), is featuring a series on Islamic microfinance that profiles the winner and finalists of the Islamic Microfinance Challenge and others in an effort to engage with the broader microfinance and Islamic finance communities to find new ways to support the Islamic microfinance sector. The Islamic Microfinance Series can be found at http://microfinance.cgap.org/category/blog-series/islamic-microfinance-series/

by Medha Ravi -

MICROCAPITAL BRIEF: Al Amal Bank of Yemen Wins Islamic Microfinance Challenge 2010

Al Amal Bank, a microfinance bank in Yemen, will be awarded USD 104,000 for winning the Islamic Microfinance Challenge 2010, a contest that promotes the design of Shariah-compliant products for Islamic microfinance clients. Al Amal’s proposal for the competition was to test-run an Islamic leasing product, funding the pilot through its Islamic investment product and achieving operational and financial sustainability by 2012.

by Conner Brannen -

MICROCAPITAL BRIEF: International Fund for Agriculture and Development (IFAD) Allocates $8m to Al-Amal Microfinance Bank in Yemen

The International Fund for Agriculture and Development (IFAD), an agency of the United Nations, has allocated a total of USD 8 million – equal parts equity and debt investment – to Al-Amal Microfinance Bank, a microfinance bank established by the Yemeni government in 2002. Yukiko Omura, the vice-president of IFAD, commented on the “importance of partnership between the Fund and the bank to enable the Fund to reach the poor people in rural areas to provide loans to small farmers, fishermen and other groups with low incomes.”

by Jay Kumar -

MICROCAPITAL BRIEF: Al-Amal Microfinance Bank of Yemen Provides $1.5m in Loans to 5858 Low-Income Individuals in 2009

In 2009, Al-Amal Microfinance Bank, a microcredit bank established in 2002 in Yemen, provided credit of YER 300 million (USD 1.5 million) to 5,858 low-income individuals.