Wafaa, a UK-based online microfinance platform, allows individuals to loan as little as USD 20 to fund interest-free loans to poor Muslims in the Middle East and North Africa.
Category: Middle East
MICROCAPITAL BRIEF: European Union to Give Jordan $32m for Microfinance Over 3 Years
The Ministry of Planning and International Cooperation of Jordan, a governmental institution that aims to affect sustainable development, reportedly has stated that the European Union (EU) will provide funding in the amount of EUR 25 million (USD 32.5 million) to support Jordan’s 2012-2014 executive plan to establish a nationwide microfinance program.
MICROCAPITAL BRIEF: Arab Spring Foundation’s Farasee Seeking to Raise $1b for “1 Million Jobs for MENA Initiative” in Morocco
The Arab Spring Foundation for Entrepreneurship and Employment, also known as the Farasee Foundation, is a nonprofit organization that was created to launch “1 million jobs for Middle East and North Africa (MENA)” initiative, which intends to provide institutional investors and sovereign funds with opportunities to develop food security and jobs.
MICROFINANCE EVENT: Hanson Wade Hosts Islamic Microfinance Summit, January 29 – January 30, 2013, Istanbul, Turkey
Event Name: Islamic Microfinance Summit 2013
Event Date: January 29 – January 30, 2013
Event Location: Istanbul, Turkey
MICROFINANCE PUBLICATION ROUND-UP: Analysis of Microfinance Investment Vehicles; Female Microfinance Clients in Pakistan; Life Microinsurance in the Philippines
“The State of Microfinance Investment 2012: MicroRate’s 7th Annual Survey and Analysis of MIVs;” published by MicroRate; October 2012; 17 pages; available at: http://www.microrate.com/downloads/78
MICROCAPITAL BRIEF: Development and Employment Fund (DEF) of Jordan Offers $5m in Grants to Microfund for Women (MFW), Ahli Microfinance Company (AMC)
The Development and Employment Fund (DEF), a provider of retail and wholesale microfinance services backed by the Jordanian government, reportedly has offered grants totaling JOD 3.5 million (USD 5 million) to the Microfund for Women (MFW) and the Ahli Microfinance Company (AMC), two microfinance providers in Jordan.
MICROCAPITAL BRIEF: US Agency for International Development (USAID), FINCA Jordan Launch Youth Finance Project
A Youth Finance Project intended to boost the Jordanian microbusiness environment has been launched by the United States Agency for International Development (USAID), a US government agency that provides international economic and humanitarian assistance and FINCA Jordan, a microfinance institution (MFI) that is part of the US-based FINCA International microfinance network.
MICROCAPITAL BRIEF: Silatech of Qatar, Kiva of USA Launch Kiva Arab Youth Website to Raise Funds for Microlending
Kiva, a US-based online microlending fundraiser, has partnered with Silatech, a Qatar-based social enterprise serving youth in the Middle East, to create Kiva Arab Youth, an online platform allowing individuals to makes loans to microfinance institutions (MFIs) in the region that then on-lend the funds to aid young Arab entrepreneurs.
MICROFINANCE PUBLICATION ROUND-UP: Microfinance Microscope 2012; Impact of Financial Access in Bosnia and Herzegovina; Economic Opportunities and Financial Outcomes of Microfinance
“Global Microscope on the Microfinance Business Environment 2012;” by the Economist Intelligence Unit; published by The Economist; 72 pages; available at: http://www5.iadb.org/mif/en-us/home/knowledge.aspx?idPublication=64206
MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $1.5m to FINCA Jordan to Boost Microfinance Services
The Sanad Fund for MSME (Micro-, Small a Medium-Sized Enterprise), an initiative of KfW Entwicklungsbank that provides medium- and long-term debt and equity to financial institutions in the Middle East, recently made a local-currency loan equivalent to USD 1.5 million to FINCA Jordan Specialized Microloans, a Jordanian microfinance institution (MFI) that is part of the US-based FINCA International microfinance network.
MICROFINANCE EVENT: AlHuda Center, Akhuwat Organize Global Islamic Microfinance Forum, Dubai, December 8-10, 2012
Event Name: Global Islamic Microfinance Forum 2012
Event Date: December 8-December 10, 2012
MICROFINANCE EVENT: Sanabel hosts Ninth Annual Conference, Khartoum, Sudan, October 31-November 2, 2012
Event Name: Ninth Annual Conference 2012
Event Date: October 31-November 2, 2012
MICROFINANCE EVENT: Inclusive Financial Services Stakeholders Conference, Erbil, Iraq, October 23-24, 2012
Event name: Inclusive Financial Services Stakeholders Conference
Event date: October 23 and October 24, 2012
MICROCAPITAL BRIEF: Sanabel Launches “Shafafeya” Transparency Program for Arab Microfinance Institutions
Sanabel, an Egypt-based nonprofit organization dedicated to advancing Arab microfinance, recently launched a transparency program called “Shafafeya” that produces comparative analysis, trend analysis and financial highlights of the microfinance sector in the Arab world.
MICROCAPITAL BRIEF: Planning Minister of Jordan Meets Microfinance Representatives
The Minister of Planning and International Cooperation of Jordan, J’afaar Hassan, recently met with a group of microfinance practitioners as part of the operational plan of the country’s national strategy for the microfinance sector.
MICROCAPITAL BRIEF: AlHuda Centre of Islamic Banking and Economics of Pakistan Creates Centre of Excellence in Islamic Microfinance
The nonprofit AlHuda Centre of Islamic Banking and Economics (CIBE) of Pakistan recently launched the Centre of Excellence on Islamic Microfinance in order to provide Shariah guidance and capacity building to microfinance institutions (MFIs).
MICROCAPITAL BRIEF: All Adults in Ernakulem, India May Have Bank Accounts by September
All adults in the Ernakulem district of the Indian state of Kerala reportedly are expected to have bank accounts by September as a result of a campaign by banks in the district to have those excluded from banking services, access bank accounts, credit, remittance services and microinsurance policies.
MICROCAPITAL BRIEF: “SANAD Fund for MSME” Loans $3m to Middle East Micro-Credit Company of Jordan
SANAD Fund for MSME, a Luxembourg-based investment fund, has invested in Jordan for the first time, with a synthetic local currency loan equivalent to USD 3 million disbursed to Middle East Micro-Credit Company (MEMCC), a microfinance institution (MFI).