The government of Pakistan recently launched the Kamyab Pakistan Program, through which commercial banks and development finance institutions can bid to provide wholesale loans to retail providers of housing and microfinance loans. Successful bidders will be eligible to apply for government funds to: (1) increase the ability of retail lenders to borrow from the wholesale lenders; and (2) cover the first 10 percent of losses retail lenders may incur within the program plus half of the losses wholesale lenders may incur. Through Kamyab Pakistan, retail lenders
Category: Islamic Finance
SPECIAL REPORT: European Microfinance Week – Online November 17-19, 2021 – Registration Now Open
Despite the pandemic, 
the European Microfinance Platform (e-MFP) once again presents one of its flagship activities, European Microfinance Week (EMW), online this November. While the detailed agenda has not yet been released, it will include the presentation of the EUR 100,000 European Microfinance Award, as always. Over three days, last year’s EMW included 130 speakers reaching 500 attendees via the internet. Registrations fees vary from EUR 40 to EUR 200. More details appear at https://registration.european-microfinance-week.eu/website/27793/.
This notice is part of a sponsored series on EMW, the next iteration of which will occur online from November 17 through November 19, 2021. This event is held annually by e-MFP, a Luxembourg-based network with approximately 130 members. MicroCapital has been engaged to cover the event each year since 2012.
Additional Resources
European Microfinance Platform (e-MFP) information on European Microfinance Week 2020
http://www.e-mfp.eu/european-microfinance-week-2020
MicroCapital coverage since 2012 of European Microfinance Week, including each European Microfinance Award
https://www.microcapital.org/category/european-microfinance-week/
MICROCAPITAL BRIEF: EBRD Loans $50m to QNB Alahli of Egypt to Boost Green Lending to Individuals, SMEs
Qatar National Bank (QNB) Alahli, an Egyptian member of the QNB Group, recently accepted a loan of USD 50 million from the multilateral European Bank for Reconstruction and Development (EBRD) to fund on-lending to individual borrowers as well as small and medium-sized enterprises (SMEs) performing “green, energy efficiency, water efficiency, renewable energy and resource efficiency projects.” The loan is part of
MICROFINANCE EVENT: The SAM (Semaine Africaine de la Microfinance); October 18-22, 2021; Kigali, Rwanda
This year’s SAM (Semaine Africaine de la Microfinance) includes five days of conference sessions, an investors’ fair, an “Innovators’ Village,” research presentations, training sessions and workshops under the theme “Resilience of the African Inclusive Finance Sector.” The two-day conference portion of SAM includes sessions on topics such as how the COVID-19 pandemic has affected efforts to meet the UN Sustainable Development Goals, financing agricultural value chains, risk management, serving youth, digital infrastructure and post-crisis reconstruction. The other days of SAM include workshops on topics such as social performance,
SPECIAL REPORT: Building Resilience for Microfinance Clients – the SAM 2021 Conference in Kigali, Rwanda, October 18-22
MicroCapital: How will the theme resilience be addressed during the SAM 2021?
Yombo Odanou: The EU has defined resilience as “the capacity of an individual, household, community, country or region to resist, adapt and recover quickly from crises and shocks.” The dual climate and COVID-19 crises and their effects on the global economy are forcing institutions to find new ways to take advantage of this austere environment.
Christophe Hebting: We believe the discussions at the SAM can build the resilience capacity of all actors in the inclusive finance sector. This includes addressing questions such as: How can resilience be increased through structural change? In the face of climate change? Through technological innovations?
MC: How are you addressing concerns attendees may have regarding the potential transmission of COVID-19 during the event?
YO: Since the beginning of this pandemic, MAIN has initiated actions to enable its members to minimise the risk of infection, allowing them to continue
MICROCAPITAL BRIEF: Securities Commission Malaysia, UNCDF Accepting Applications Through June 30 for Fikra Islamic Fintech Accelerator
Securities Commission (SC) Malaysia, the regulator of capital markets in the country, in collaboration with the UN Capital Development Fund (UNCDF), which promotes access to finance in countries with the lowest incomes, recently began taking applications for the Fikra Islamic Fintech Accelerator Programme, which is intended to develop Islamic capital markets in Malaysia by supporting the development of financial technology (fintech) firms. The accelerator will take participants “through the entire value chain from
MICROCAPITAL BRIEF: UBL of Pakistan to Offer Shariah-compliant Housing Loans to Akhuwat Customers
Pakistan-based organizations United Bank Limited (UBL) and Akhuwat recently signed an agreement under Mera Pakistan Mera Ghar, a government-backed housing program, whereby Akhuwat will recommend certain of its low-income customers to UBL for
MICROCAPITAL BRIEF: Salaam African Bank (SAB) of Djibouti Acquires Uwezo Microfinance Bank of Kenya
Salaam African Bank (SAB) of Djibouti recently acquired Kenya-based Uwezo Microfinance Bank for an undisclosed price. Licensed by the Central Bank of Kenya (CBK) in 2010, Uwezo is a
MICROCAPITAL BRIEF: BankIslami, TPL Life Offering Shariah-compliant Hospitalization, Funeral Coverage for COVID-19 in Pakistan
BankIslami, an institution offering Shariah-compliant financial services in Pakistan, recently partnered with TPL Life, a digital insurance technology firm controlled by Pakistan’s Habib Bank Limited (HBL), to offer coverage for people in case they become ill with COVID-19. The package pays up to: (1) PKR 30,000 (USD 195) upon diagnosis; (2) additional funding of an unspecified amount should the patient be hospitalized; and (3) funeral expenses up to
MICROCAPITAL BRIEF: Pakistan Launches Digital Payment System Raast to Promote Financial Inclusion, Strengthen Rule of Law, Boost Government Services
The country of Pakistan recently began the rollout of Raast, an “instant digital payment system,” through which the government will route payments to individuals, such as salaries, pensions and welfare. Individuals and businesses
MICROCAPITAL BRIEF: Via Regulatory Sandbox, Securities and Exchange Commission of Pakistan Approves Digital, Crowdfunding, Robo-advisory, Shariah-compliant Proposals
The Securities and Exchange Commission of Pakistan (SECP), the regulator of non-bank financial institutions in the country, recently introduced a regulatory sandbox, inviting companies to propose pilot tests of novel services. It approved the following six: a digital insurance service
MICROCAPITAL BRIEF: Cameroon to Encourage Islamic Financial Services, Microfinance Institutions to Transform into Banks as Part of 10-year National Development Strategy
The government of Cameroon recently released its 2020-2030 National Development Strategy, which includes plans to expand banking, microfinance and Islamic financial services. To boost the number of banks in the country from 16 to as many as 30, the government will engage
SPECIAL REPORT: European Microfinance Week Registration Open for Virtual Conference; November 18-20, 2020
From the European Microfinance Platform (e-MFP): It has been a difficult few months, and during this time we at e-MFP have engaged with our members and friends to mobilize resources and adapt our activities to best mitigate the effects this pandemic brings to our sector and the vulnerable people we as a community serve.
One of our flagship activities is European Microfinance Week (EMW), held annually in November, and with it in mind we have been closely monitoring the public health situation globally. Now more than ever it’s vital to connect and
MICROCAPITAL BRIEF: Malaysia Digital Economy Corporation (MDEC), Mastercard Partner on E-money, Payment Cards, Islamic Fintech, Mentoring, Technology Training for Girls
The Malaysia Digital Economy Corporation (MDEC), a government-controlled entity, recently signed a memorandum of understanding with Mastercard, a US-based payments company, to “facilitate the rollout of Mastercard payments and business technologies” in Malaysia. The goals of the agreement include to:
MICROCAPITAL BRIEF: Islamic Development Bank (IsDB), SCIEF Launch $30k Changemakers Competition for Shariah-compliant Fintech, Microfinance, “Creative Economy”
The Islamic Development Bank (IsDB), a multilateral development finance institution based in Saudi Arabia, recently partnered with the Saudi-Spanish Center for Islamic Economics and Finance (SCIEF), which is based in Spain, to launch the Islamic Finance Changemakers Competition. Applications are open to participants in
MICROCAPITAL BRIEF: EBRD Loans $100m to NBK Egypt for Short-term Financing Amidst Pandemic, with “Focus” on SMEs
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, recently loaned USD 100 million to the National Bank of Kuwait (NBK) Egypt, which provides Islamic and traditional financial services to consumers and corporations in Egypt. The loan will allow NBK Egypt to boost its short-term lending to businesses that are experiencing
MICROFINANCE PAPER WRAP-UP: “Increasing Financial Inclusion in the Muslim World: Evidence from an Islamic Finance Marketing Experiment;” by Dean Karlan, Adam Osman, Nour Shammout; published by the World Bank Group
In spite of the growth of the Islamic finance sector, which promotes loans, insurance and other services that comply with the religious laws known as Shariah, financial inclusion rates in predominantly Muslim countries remain low. In collaboration with Tamweelcom, a microcredit institution in Jordan, the authors analyze how the following factors influence people’s decisions to borrow:
MICROFINANCE EVENT: CIS Islamic Banking and Finance Forum; POSTPONED; Tashkent, Uzbekistan
Originally, scheduled for August 13 to 15, 2020, this event has been postponed due to COVID-19. The new dates have not been announced. The first day of this event is