For an undisclosed price, Base of Pyramid Asia (BOPA), a Singapore-based equity investor in small microfinance institutions (MFIs) in Asia, recently purchased a 33-percent stake in the Alliance for Microfinance in Myanmar (AMFIM), a deposit-taking MFI that was launched in Myanmar in 2014.
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MICROCAPITAL BRIEF: Myanmar Investments International Announces Joint Venture with Microfinance Institution (MFI) Myanmar Finance
Myanmar Investments Limited (MIL), a subsidiary of British Virgin Islands-based investment company Myanmar Investments International Limited (MIIL), recently entered into a conditional joint venture agreement with Myanmar Finance Company Limited (MFC), a Myanmar-based microfinance institution (MFI), to create Myanmar Finance International Limited (MFIL), which will be based in Myanmar and provide microfinance services in the country.
MICROFINANCE PAPER WRAP-UP: “Myanmar: Demand, Supply, Policy and Regulation;” by Doubell Chamberlain et al; published by the Centre for Financial Regulation & Inclusion (CENFRI)
“Myanmar: Demand, Supply, Policy and Regulation;” by Doubell Chamberlain, Hennie Bester, Herman Smit, Christiaan Loots, Shirley Mburu, Ahmed Dermish, Lara Gidvani and David Saunders; published as a Making Access Possible (MAP) Study Synthesis Note by the Centre for Financial Regulation & Inclusion (CENFRI); 2014; 41 pages; available at http://cenfri.org/documents/MAP/2014/MAP%20Myanmar%20Synthesis%20Note.pdf
This document covers an assessment of the retail financial services market in Myanmar as performed by the Making Access Possible (MAP) program, which was developed by the United Nations Capital Development Fund (UNCDF) to support global financial inclusion.
MICROCAPITAL BRIEF: South Korean Hana Bank Establishes Microfinance Institution (MFI) in Myanmar
Hana Bank, a Seoul-based commercial bank that is the primary banking subsidiary of South Korean Hana Financial Group, reportedly has announced the establishment of Hana Microfinance, a microfinance institution (MFI) in Myanmar.
MICROCAPITAL BRIEF: United Nations Development Program (UNDP) Transfers Microfinance Portfolio in Myanmar to Pact Global Microfinance Fund
The United Nations Development Program (UNDP), whose goal is to work toward the United Nation’s Millennium Development Goals, reportedly has transferred the portion of its microfinance portfolio that is disbursed in Myanmar to the US-based Pact Global Microfinance Fund (PGMF), which disburses microcredit and offers business training in Myanmar’s rural regions.
MICROCAPITAL BRIEF: Myanmar Ministry of Cooperatives Allocates $52m for Microfinance in Agriculture
The Myanmar Ministry of Cooperatives reportedly has budgeted MMK 50 billion (USD 51.8 million) to support microfinance, specifically in the country’s agricultural sector [1].
MICROCAPITAL BRIEF: Microfinance Supervisory Committee of Myanmar Caps Microloans at $509, Interest Rates at 2.5% per Month
The Microfinance Supervisory Committee (MSC), the microfinance regulatory body in Myanmar, reportedly set a limit of MMK 500,000 (USD 509) for loans issued by microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Acleda Bank Plans to Open 12 New Branches in Myanmar, 4 in Laos
Alceda Bank, a microfinance bank based in Cambodia, reportedly plans to expand its operations in Myanmar and in Laos. By the end of 2014, it intends to increase its network of branches from six to 18 in Myanmar and from 41 to 45 branches in Laos.
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.
MICROFINANCE EVENT: Magenta Global to Host “5th Annual Mobile Payments & E-Commerce Emerging Markets/Asia Pacific 2014 Summit,” February 13-14, 2014, Yangon, Myanmar
Event Name: 5th Annual Mobile Payments & E-Commerce Emerging Markets/Asia Pacific 2014 Summit
Event Date: February 13 – February 14, 2014
Event Location: Inya Lake Hotel, Yangon, Myanmar
MICROCAPITAL BRIEF: Bagan Capital’s BC Finance Launches Microfinance Services in Myanmar
BC Finance, a wholly-owned subsidiary of Hong Kong-based private equity and advisory group Bagan Capital, recently launched its microfinance operations in Myanmar with the start of lending services in Bago, a region near the capital city of Nay Pyi Taw [1].
MICROCAPITAL BRIEF: Aeon Financial Service Company Limited Launches Consumer Credit Services Subsidiary Aeon Microfinance (Myanmar) Company
Aeon Financial Service Company Limited (Aeon), a Japanese-based credit and financial services provider, recently announced that it has launched Aeon Microfinance (Myanmar) Company, a consumer credit services subsidiary based in the Myanmar State of Yangon.
MICROCAPITAL BRIEF: Myanmar Licences First Private Insurers
The Myanmar government reportedly has granted operating licenses to five insurance companies in line with its financial reform policy. International Kanbawza Insurance, a subsidiary of Kanbawza Bank (KBZ) is the first insurance company to have started operation in the city of Yangon, providing both standard insurance and microinsurance[1].
MICROCAPITAL BRIEF: ACLEDA Begins Microfinance Operations in Myanmar
ACLEDA Bank, a Cambodia-based microfinance institution (MFI), has reportedly launched a new microfinance operation in Myanmar under the name of ACLEDA MFI Myanmar.
MICROFINANCE PAPER WRAP-UP: “Microfinance in Myanmar Sector Assessment”; by Eric Duflos, Paul Luchtenburg, Li Ren and Li Yan Chen; published by CGAP (Consultative Group to Assist the Poor), International Finance Corporation
By Eric Duflos, Paul Luchtenburg, Li Ren and Li Yan Chen, published by CGAP (Consultative Group to Assist the Poor) and International Finance Corporation, January 2013, 43 pages, available at: http://www1.ifc.org/wps/wcm/connect/d87bf8804e5aba9bad7dadfce4951bf6/Microfinance+in+Myanmar+Sector+Assessment-Final.pdf?MOD=AJPERES
This joint CGAP (Consultative Group to Assist the Poor) and International Finance Corporation (IFC) report reviews the current state of Myanmar’s microfinance sector and the challenges involved with its future development.
MICROCAPITAL BRIEF: International Finance Corporation Paying $2m for Stake in Arm of Cambodia’s ACLEDA Bank Being Established in Myanmar
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to disburse USD 2 million to ACLEDA Bank, a Cambodia-based commercial bank, to set up a microfinance institution (MFI) in Myanmar.
MICROCAPITAL BRIEF: Government of Myanmar Announces Microfinance to be Key Element of Development Plans
President U Thein Sein of Myanmar reportedly has prioritized the creation of microfinance banks in an effort to increase private investment and alleviate poverty in the country.
MICROCAPITAL BRIEF: ACLEDA Bank of Cambodia to Launch Microfinance Operations in Myanmar in January 2013
In Myanmar, which recently lifted restrictions barring wholly foreign-owned direct investments, ACLEDA Bank Public Limited Company (PLC), a Cambodian commercial bank specializing in microfinance, plans to launch microfinance operations by January 2013.