The Microcredit Regulatory Authority (MRA) of Bangladesh will soon finalize the lending rate for the country’s microfinance institutions, announced the chairman of the MRA, Dr Atiur Rahman, at a seminar in Bangladesh, according to a recent article [1].
MICROCAPITAL BRIEF: United States Agency for International Development (USAID)-Tijara’s Iraqi Youth Initiative to Provide $4.4m in Microfinance Loans, Opens First Office in Anbar
In Anbar province, the United States Agency for International Development (USAID)-Tijara, an Iraq-based organization funded by USAID which promotes economic development in Iraq, opened its first Iraqi Youth Initiative office.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Approves $150m to Strengthen Microfinance Institutions (MFIs) and Small Business Projects in Latin America and the Caribbean
The Inter-American Development Bank’s (IDB’s) Board of Executive Directors approved a loan and guarantees singular facility of USD 150 million to strengthen financial institutions in Latin America and the Caribbean to boost long-term financing to small business projects deemed to have a high social impact.
MICROCAPITAL BRIEF: Vijay Pratap Singh, Co-founder and CEO of Ekgaon Technologies, Discusses the Future of Information and Communication Technology (ICT) in Microfinance Institutions (MFIs)
Mr Vijay Pratap Singh, co-founder and CEO of Indian information and communication technology (ICT) provider Ekgaon Technologies, recently was interviewed by microfinance news website, MicrofinanceFocus.com concerning the impact of ICT on microfinance. Mr Singh claims that up to now, new technology has been “reluctantly received” and “half-heartedly implemented” by microfinance institutions (MFIs). Of impediments to progress, he notes that some MFIs have been unwilling to modify operational models to accommodate the new technologies. More importantly, he claims that MFIs are unable to utilize the full potential of ICT because they are unwilling to invest in operational efficiency, specifically in human resources.
MICROCAPITAL BRIEF: National Bank for Agriculture and Rural Development (NABARD) Calculates Total Loan Disbursements at $1.08b
The National Bank for Agriculture and Rural Development (NABARD), a development bank in India that promotes the development of microfinance activities in the rural sector, recently reported that it disbursed loans of INR 3,700 crore (equivalent to USD 801 million) to 581 microfinance institutions (MFIs) for the year ending March 2009.
MICROCAPITAL BRIEF: Wall’s Street Advisor Services (WSAS) Releases Series of Benchmarks for Equity Investments in Microfinance Institutions (MFIs) – WSAS MFI Shareholder Value Indexes (SVIX)
Wall’s Street Advisor Services (WSAS), an independent investment research consultancy, released the first of a new series of benchmarks for equity investments in microfinance institutions (MFIs) – the WSAS MFI Shareholder Value Indexes (SVIX).
MICROCAPITAL BRIEF: Dr V Renganatha of Vaatsalya Healthcare Solutions, India, Discusses Microinsurance Scheme, Pitfalls of Selling Insurance via Microfinance Institutions (MFIs) with Economic Times (ET)
In an interview with business newspaper, Economic Times (ET), co-founder and vice president of Vaatsalya Healthcare Solutions Dr V Renganathan discussed the microinsurance scheme for which he is seeking a grant. He asserts that the plan will offer low-income Indian consumers both hospital care as well as out-patient consultation.
MICROCAPITAL BRIEF: Nasarawa, Nigeria to Establish Microfinance Banks in All 13 Local Municipalities
Alhaji Muhammed Barike Sameel, the State Commissioner of Commerce and Industry for Nasarawa, Nigeria, recently stated that the state of Nasarawa plans to establish microfinance banks in all 13 of Nasarawa’s local municipalities.
MICROCAPITAL BRIEF: MFTransparency to Launch Transparent Pricing Initiative in India With Participation of 82 Microfinance Institutions to Date
MFTransparency, a U.S.-based non-governmental organization which promotes accurate and transparent pricing in the microfinance industry, recently expanded its transparent pricing initiative to 82 microfinance institutions (MFIs) in India.
MICROCAPITAL BRIEF: Dr C Rangarajan, Chairman of the Indian Prime Minister’s Economic Advisory Council Asks Microfinance Institutions (MFIs) to Consider Borrowers’ “Repayment Capacity” To Avoid Default
Dr C Rangarajan, Chairman of the Indian Prime Minister’s Economic Advisory Council, recently asked India’s microfinance institutions (MFIs) to consider borrowers’ repayment capacity when setting interest rates on loans.
MICROCAPITAL BRIEF: SKS Microfinance IPO Experiences Strong Demand, Total Share Offer 13 Times Oversubscribed
When SKS Microfinance launched India’s first initial public offering (IPO) on July 28, 2010, the total share issue received bids for 13.55 times the overall shares on offer, with the institutional share offer oversubscribed by 20.3 times.
MICROCAPITAL BRIEF: The Coalition of Tanzania Microfinance Practitioners and Service Providers Limited Merges With The Tanzania Association of Microfinance Institutions (TAMFI)
The Tanzania Association of Microfinance Institutions (TAMFI) and the Coalition of Tanzania Microfinance Practitioners and Service Providers Limited have recently merged after an independent team that was commissioned last year to resolve the issue recommended that, because they were essentially conducting the same functions, the existence of both institutions was only creating confusion among members and other microfinance stakeholders.
SPECIAL REPORT: The United States Agency for International Development (USAID) Launches The Knowledge-Driven International Development (KDID) Portal to Encourage Greater Effectiveness of Development Knowledge
The Knowledge-Driven International Development (KDID) Portal is a family of websites established to maximize the effectiveness of economic development assistance by connecting development practitioners to spread innovation and good practice.
MICROCAPITAL BRIEF: Finance Minister of Bangladesh, Ama Muhith, Calls Impact of Microfinance Small
During the recent Citi Micro Entrepreneurship Awards in Bangladesh, the Finance Minister of Bangladesh, Ama Muhith, commented that although microfinance has reached 30 million people in Bangladesh, 40 percent of people in the country remain below the poverty line.
MICROCAPITAL EVENT: Uniglobal Microinsurance Forum 2010, Vienna, Austria, September 9-10, 2010
Event Name: Uniglobal Microinsurance Forum 2010
Event Date: September 9 and September 10, 2010
Event Location: Five Stars Hotel, Vienna, Austria
MICROCAPITAL BRIEF: Grameen Foundation Receives $125,000 from Citi Foundation to Help Improve Human Capital Management Practices at Microfinance Institutions (MFIs)
Grameen Foundation, a US-based nonprofit organization, recently announced that it has received grants totaling USD 125,000 from the US-based microfinance funder, Citi Foundation. USD 100,000 is directed to Grameen’s efforts to improve human capital management practices at microfinance institutions (MFIs), while the remaining USD 25,000 is in support of Grameen’s broader strategic initiatives. The details of these broader initiatives have not been specified.
MICROCAPITAL BRIEF: Ingenico SA of France Takes Majority Stake in Remittance Provider TransferTo
Ingenico S.A., a global electronic payment solutions company based in France, recently took a controlling interest in TransferTo, a Singapore-based telecommunications company, increasing its stake in the company from 35 percent to 90 percent.
MICROFINANCE PAPER WRAP-UP: Microfinance Programs and Better Health: Prospects for Sub-Saharan Africa; by Paul M. Pronyk, James R. Hargreaves and Jonathan Morduch; Published by The Journal of the American Medical Association (JAMA)
By Paul M. Pronyk, James R. Hargreaves and Jonathan Morduch, published by the Journal of the American Medical Association (JAMA), Volume 298, Number 16, October 2007, available at: http://jama.ama-assn.org/cgi/reprint/298/16/1925.pdf
In this paper, Paul Pronyk, James Hargreaves and Jonathan Morduch examine available evidence on the potential for microfinance to contribute toward achieving the United Nation’s (UN’s) Millennium Development Goals (MDG), with specific focus on improvements in health and the challenges and opportunities for expanding such outcomes in Sub-Saharan Africa, in particular.