MICROCAPITAL BRIEF: Fintech Robos, General Arab Insurance Federation (GAIF) Partner on Events Promoting Financial Literacy, Savings, Social Insurance, Pensions

The Egypt-based General Arab Insurance Federation (GAIF) recently agreed to support Bahrain-based Fintech Robos in its production of the following annual events: (1) Arab Savings & Financial Literacy Conference; (2) the Arab Pension & Social Insurance Conference; and (3) the Arab Actuarial Conference. Fintech Robos CEO Ebrahim K Ebrahim noted that one of the goals of the partnership is

MICROFINANCE EVENT: Future of Fintech; June 14-15, 2023; Riyadh, Saudi Arabia; NEW DATES

Originally scheduled to take place starting March 1, this event will focus on “disruptive ideas from across the fintech ecosystem.” The two-day event offers online and in-person sessions including: (1) Evaluating Saudi Arabia’s FinTech [Financial Technology] Venture Activity – Key Drivers and Factors; (2) Offering Financial Flexibility to

MICROFINANCE EVENT: Islamic Finance & Banking Summit; September 27-28, 2023; Dubai, UAE – NEW DATES

Originally scheduled to take place beginning February 27 in Saudi Arabia (and then May 31 in UAE), this two-day event is organized with the goal of developing strategies for elevating the Islamic finance industry. The agenda offers sessions – in-person and on-line – such as: (1) Economic Growth, FDI [Foreign Direct Investment] & Islamic Banking Developments; (2) Leveraging

MICROCAPITAL BRIEF: Quona Capital Closes Fund III with $332m for Fintech in Africa, Asia, Latin America

Quona Capital, an investor in financial inclusion that has offices in 10 countries, recently announced the close of its Fund III, with this latest fundraising round engaging most of Fund III’s ongoing investors and 20 new ones. As a result, the fund has a total of USD 332 million in commitments, and the firm has USD

MICROCAPITAL BRIEF: Citing “Impatience with the Pace,” Calvert Impact Restructures to Boost Microfinance, Green Investment

US-based NGO Calvert Impact Capital is rebranding itself as Calvert Impact, a name it has given to the NGO that will hold a group of subsidiaries that will continue to serve retail investors, institutional investors and financial advisors. CEO Jennifer Pryce stated, “We found that our original organizational framework sometimes prevented us from going bigger and bolder…. Our strategy reflects our impatience with the pace of adoption across the capital markets. We…need to double down on what we know works in and for communities.”

Calvert Impact subsidiaries will continue with the organization’s past activities, such as offering Community Investment Notes in denominations as small as

MICROFINANCE EVENT: 4th Global Takaful & Re-takaful Forum; August 24-26, 2022; Dubai, UAE

The purpose of this event is to share information about takaful – insurance that complies with Islamic law. The event combines a forum on the first day with workshops during the two following days. The forum will include sessions such as: (1) Foundations and Current Practices of the Takaful Industry; (2) Takaful Portfolios and Innovative Products; (3) Best Marketing Strategies; (4) Risk Management & Actuarial Services; and (5) Future Perspectives of Takaful.

MICROCAPITAL BRIEF: Mobilink Microfinance Bank, CBA to Broaden Range of Digital Financial Services for MSMEs in Pakistan

Two Pakistani companies, Mobilink Microfinance and CBA Digital Distribution Platform, recently partnered to increase access to digital financial services by allowing Mobilink to offer its customers CBA services. CBA enables

MICROCAPITAL BRIEF: Silicon Badia, Sanad Fund for MSME, Arab Bank Accelerator, Sunny Side Invest Equity in Cartona to Digitize Food Supply Chain in Egypt

Four entities recently placed equity in Cartona, a virtual marketplace connecting Egyptian food wholesalers and distributors, for the first time: US-based Silicon Badia; Sanad Fund for MSME, which was founded by Germany’s KfW Development Bank to invest in micro-, small and medium-sized enterprises (MSMEs); Jordan-based Arab Bank Accelerator; and Egypt-based Sunny Side Venture Partners. Silicon Badia

MICROCAPITAL BRIEF: Citibank Pakistan, National Institutional Facilitation Technologies Partner on Digital Financial Services for Retailers in Pakistan

National Institutional Facilitation Technologies (NIFT), a Pakistani payment system operator, and the local arm of US-based financial services provider Citigroup, recently announced a “referral arrangement” under which Citibank Pakistan will refer its clients to NIFT’s infrastructure for processing digital payment services. The deal will allow corporations to

MICROCAPITAL BRIEF: FINCA Microfinance Bank, Millat Tractors Partner to Serve Farmers in Pakistan

Pakistan-based FINCA Microfinance Bank, a for-profit entity whose name derives from the US-based Foundation for International Community Assistance (FINCA International), recently announced a partnership with Pakistan-based Millat Tractors to increase the availability of machinery to farmers in the country. Under the new arrangement, customers of FINCA Pakistan are able to

MICROCAPITAL BRIEF: SAFCO Transforming into For-profit Entity with Microfinance License from Securities and Exchange Commision of Pakistan

The Securities and Exchange Commission of Pakistan (SECP) recently issued a license to Sustainable Actions to Access Financial Capital Opportunities (SAFCO) Microfinance Company, a unit of the SAFCO Support Foundation, allowing it to offer microfinance services. The announcement comes as SECP is

MICROCAPITAL BRIEF: Aman for Microfinance Targets Unbanked in Egypt via Youm-B-Youm Savings Fund, Target Return Is 8%

Aman for Microfinance, a member of the Egypt-based Aman Group, in partnership with the asset management unit of Egypt’s Prime Holding, recently announced an investment fund called Aman Youm-B-Youm, whose name can be translated as Aman Day-by-Day. Aman for Microfinance anticipates the fund will generate returns of

MICROCAPITAL BRIEF: Evocabank of Armenia Launches Money Transfers via Mobile Phone Number

Evocabank, an Armenian bank, recently partnered with Armenian Card (ArCa), a network of 15 Armenian and international banks, to launch a service that allows Evocabank bank customers to send money transfers using recipients’ mobile numbers, without the need for their bank details. The service is part of Evocabank’s mobile app, EvocaTouch. Transfers are

MICROCAPITAL BRIEF: 60 Decibels Microfinance Index Offers Impact Data from 18k Customers of 72 MFIs

Impact-measurement firm 60 Decibels recently released data it has assembled from 18,000 clients of 72 microfinance institutions (MFIs) that serve 25 million people in 41 countries. The report is based on a survey exploring changes in factors such as income, stress level, number of employees and ease of affording loan repayments, as well as levels of

MICROCAPITAL BRIEF: Palestinian Monetary Authority, European Investment Bank (EIB) Announce $63m Package for MSMEs in Gaza Adjusting to COVID-19 Pandemic, with Focus on Companies Run by Women, Youth

The EU’s European Investment Bank (EIB) recently announced it will disburse EUR 60 million (USD 63 million) to the Palestinian Monetary Authority (PMA), with USD 50 million of the total to be on-lent by retail lenders in Gaza to micro-, small and medium-sized enterprises (MSMEs). The remainder of the funding will