by A'kos Szebeni -

MICROFINANCE PUBLICATION ROUND-UP: Inclusix Index of Financial Inclusion in India; Obstacles to Access in Microinsurance; Microfinance in Kenya

“CRISIL Inclusix: An index to measure India’s progress on Financial Inclusion;” published by Credit Rating Information Services of India Limited (CRISIL); June 2013; 101 pages; available at http://crisil.com/pdf/corporate/CRISIL-Inclusix.pdf

Based on data from 2009 through 2011, this report gives an overview of the findings of the CRISIL Inclusix index, an analytical tool designed by Credit Rating Information Services of India Limited (CRISIL) to measure progress in financial inclusion in India at the national, regional, state and district levels.

by Nisha Koul -

MICROCAPITAL BRIEF: Microfinance Provider Khushhali Bank, Smart and Renewable Energy Solutions Partner to Increase Solar Power in Rural Pakistan

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].

by Nisha Koul -

MICROCAPITAL BRIEF: Arab Gulf Program for Development (AGFUND) Partners with Philippines Chamber of Commerce and Industry (PCCI) to Bring Ibdaa Microfinance Bank to Eighth Country

The Arab Gulf Program for Development (AGFUND), a Saudi Arabia-based development organization, and the Philippines Chamber of Commerce and Industry (PCCI), a policy- and advocacy-oriented group that represents approximately 35,000 businesses in the Philippines, have signed an agreement to create an iteration of the “Ibdaa Microfinance Bank” (IMB) that is intended to increase financial inclusion of poor people and micro-, small and medium-sized enterprises (MSMEs) in the Philippines [1][2].

by A'kos Szebeni -

MICROCAPITAL BRIEF: Bank Rakyat Indonesia (BRI) to Add 571 Branches to Reach Rural Micro-, Small, Medium-sized Enterprises (MSMEs), Expand Agricultural Lending

Bank Rakyat Indonesia (BRI), a commercial bank owned by the government of Indonesia that offers traditional services as well as microlending, reportedly has announced its intention to add 571 branches to its existing network of 9,808 retail outlets in the country.

by Megan McGowan -

MICROCAPITAL BRIEF: Myanmar Mobile Money, Mobilemate Telecommunications Launch Mobile Money Services in Myanmar

Myanmar Mobile Money, a Myanmar-based subsidiary of France-based Oberthur Technologies, recently partnered with Mobilemate Telecommunications, a Singapore-based company, to launch mobile money services in Myanmar.

by Charlotte Newman -

MICROCAPITAL BRIEF: Indian Court Rules Against Co-Founder of SMILE Microfinance, Leaving Control to US-Based Developing World Markets

An Indian court has denied a petition from Dr N Sethuraman, the co-founder of Semam Microfinance Investment Literacy and Empowerment (SMILE Microfinance), leaving control of the Indian microfinance institution (MFI) unchanged in the hands of Developing World Markets (DWM), a US-based investment company that has owned a stake amounting to approximately two thirds of SMILE since 2010.

by Meraj Husain -

MICROCAPITAL BRIEF: Triodos Revealed as Source of Shares of Cambodia’s Acleda Bank Purchased by Orix

Triodos Investment Management, a subsidiary of Netherlands-based Triodos Bank, has announced that it is the source of a six-percent equity stake in Cambodian commercial bank Acleda that was purchased by Orix Corporation, a Japan-based financial services group.

by Nisha Koul -

MICROCAPITAL BRIEF: Chinese Internet Companies Alibaba, Baidu Offer Financial Services Through Subsidiaries Yu’e Bao, Baifa

Internet companies in China reportedly are increasing financial inclusion through services such as Yu’e Bao, an online savings and investment product of e-commerce player Alibaba Group, and Baifa, an online “wealth management” product launched by search engine Baidu [1].

by A'kos Szebeni -

MICROFINANCE PUBLICATION ROUND-UP: Effectiveness of Microfinance in Cambodia; Scaling Up in Agriculture and Development; Mobile Savings in Ecuador

“AMK Cambodia – Have AMK loans helped its clients improve their overall wellbeing?”, published by Angkor Mikroheranhvatho Kampuchea (AMK); January 2014; 12 pages; available at https://www.incofin.com/sites/default/files/attachments/newsitems/Change%20Study_AMK_2014.pdf

This report explores the results of a five-year study of the effectiveness of Angkor Mikroheranhvatho Kampuchea (AMK), a Cambodian microfinance institution, in helping increase its clients’ livelihoods through microcredit services.

by Nisha Koul -

MICROCAPITAL BRIEF: Triodos Loans $9.6m to Microfinance Institutions Grameen Koota of India, Koperasi Mitra Dhuafa (Komida) of Indonesia

Triodos Investment Management, a subsidiary of Dutch Triodos Bank, recently disbursed local currency loans totaling the equivalent of USD 9.6 million to Grameen Financial Services Private Limited (Grameen Koota), a non-banking financial company (NBFC) in India, and Koperasi Mitra Dhuafa (Komida), an Indonesian microfinance institution (MFI) [1].

by Meraj Husain -

MICROCAPITAL BRIEF: Industrial Development Bank of India (IDBI) Introduces Kiosk Banking in 3 Rural Indian Villages

The Industrial Development Bank of India (IDBI), a government-owned financial services company, reportedly has installed kiosk banking units in three rural villages in the Indian state of Maharashtra.

by A'kos Szebeni -

MICROFINANCE EVENT: Sankalp Forum to Host “Sankalp Unconvention Summit 2014” on Social Enterprise and Investment, April 9 – 11, 2014, Mumbai, India

Event Name: Sankalp Unconvention Summit 2014

Event Date: April 9 – 11, 2014

Event Location: Hotel Renaissance, Mumbai, India

by Megan McGowan -

MICROCAPITAL BRIEF: Indian Microfinance Institutions Trident, Bhartiya Samruddhi Finance Limited (BSFL) May Close Due to Lack of Funds

Trident Microfin Private Limited, a microfinance institution (MFI) in India, reportedly may shut down operations after being denied a loan write-down and additional funding from a forum of 21 lenders in the Indian state Andhra Pradesh.

by A'kos Szebeni -

MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan $150m to Yes Bank of India for On-lending to Women-Owned Micro-, Small, Medium-Sized Enterprises (MSMEs)

The International Finance Corporation (IFC), a multilateral development bank and member of the US-based World Bank Group, plans to loan USD 150 million to Yes Bank, a commercial bank based in the Indian city of Mumbai.

by Meraj Husain -

MICROCAPITAL BRIEF: Indian Microfinance Institution Utkarsh Raises $12m in Non-convertible Debentures from UTI International Wealth Creator 4, Microfinance Enhancement Facility, AAV Sarl

Indian microfinance institution (MFI) Utkarsh reportedly has raised INR 75.8 crore (USD 12.2 million) through the issue of non-convertible debentures (NCDs) to Mauritius-based Unit Trust of India International Wealth Creator 4, a fund of UTI Asset Management Company of India; the Microfinance Enhancement Facility (MEF), an investment vehicle founded by the World Bank’s International Finance Corporation and German development bank Kreditanstalt für Wiederaufbau (KfW); and AAV Sarl, a fund structured by Switzerland’s Symbiotics to deploy investments belonging to that firm’s clients.