Symbiotics's microfinance news feed

India: Aavishkaar Goodwell Completes Successful First Exit From Equitas.

info@symbioticsgroup.com — Mon, 06 Sep 2010 09:14:31 +0200

Aavishkaar Goodwell, a private equity fund for the microfinance sector in India, has made a partial exit from its investment in Equitas Microfinance.

IFC, Daiwa Announce Second Bond to Support Microfinance in Emerging Markets

info@symbioticsgroup.com — Thu, 02 Sep 2010 16:33:26 +0200

IFC, a member of the World Bank Group, and Daiwa Securities Group today announced plans to issue a bond this month that will expand access to finance for poor and low-income entrepreneurs in developing countries.

Bandhan Microfinance Looking to Raise Rs 100 Crore – IPO After 2 Years

info@symbioticsgroup.com — Wed, 01 Sep 2010 16:22:15 +0200

Kolkotta based Bandhan Microfinance is said to be looking for a private equity investor who can infuse upto Rs.100 crore into the company, a top company official said to media last week.

Thailand Post May Provide Microfinance Centres

info@symbioticsgroup.com — Tue, 31 Aug 2010 10:19:04 +0200

Thailand Post offices nationwide could be transformed into microfinance centres as part of the government's bid to extend financial services to lower-income groups, said Finance Minister Korn Chatikavanij.

Peruvian Bank to Boost Loans to Women Microentrepreneurs

info@symbioticsgroup.com — Mon, 30 Aug 2010 10:39:30 +0200

Banco de la Microempresa S.A. or Mibanco will increase microfinancing to women entrepreneurs in Peru with the equivalent of $36 million in Peruvian soles provided by the IDB’s syndicated loan program.

Tanzania: Sh42bn up for Grabs in Housing Scheme

info@symbioticsgroup.com — Mon, 30 Aug 2010 10:35:26 +0200

About Sh42 billion ($30 million) has been injected to ease Tanzania’s housing shortage which is currently estimated at two million housing units.

CGAP Funder Training

info@symbioticsgroup.com — Fri, 27 Aug 2010 15:49:04 +0200

Developing Inclusive Financial Systems: The CGAP Course for Funders of Microfinance

Cameroon’s Banks, Microfinance Institutions Required to Increase Capital Reserves

info@symbioticsgroup.com — Fri, 27 Aug 2010 17:49:51 +0200

A group of financial experts has ordered all commercial banks in the Central African Economic and Monetary Community, CEMAC, to raise the minimum amount of their capital reserves.

Pacific to Get Better Banking Services

info@symbioticsgroup.com — Fri, 27 Aug 2010 17:45:55 +0200

Australia is providing $9.5 million towards an initiative that aims to improve access to basic financial services in the Pacific Islands region.

First Microfinance Organization Operational in Vietnam

info@symbioticsgroup.com — Thu, 26 Aug 2010 12:48:00 +0200

The Vietnam Women’s Union put the microfinance organization into operation in Hanoi on August 25. The organization is the first Vietnam’s microfinance body licensed by the State Bank of Vietnam.

Barclays Bank to Invest Rs 700 Mn in 11 Countries

info@symbioticsgroup.com — Tue, 24 Aug 2010 09:17:08 +0200

Barclays Bank, India today announced the launch of a new initiative, `Banking on Change`, a savings led microfinance program which is being implemented in partnership with CARE International and Plan International. Banking on Change is being implemented across 11 countries in Asia, Africa and South America, with a total budget of Rs 700 million.

Asia Microfinance Forum 2010 to focus on Financial Inclusion in Asia

info@symbioticsgroup.com — Mon, 23 Aug 2010 11:06:55 +0200

The Asia Microfinance Forum 2010 convened by the Banking With the Poor Network (BWTP) and organised by the Foundation for Development Cooperation (FDC) will be held in Colombo, Sri Lanka from 12-15 of October 2010. Citi Foundation is Lead Sponsor and Hatton National Bank, the Local Host for this event. Microfinance Focus will be the official media partner of the conference.

Ibdaa Bank for Small and Microfinance Launched in Syria

info@symbioticsgroup.com — Fri, 20 Aug 2010 17:55:31 +0200

Ibdaa Bank for Small and Microfinance was launched in Syria as part of the Arab Gulf Program for United Nations Development (AGFUND) for fighting poverty and unemployment.

Hidden Risks of Securitization – Part II: Establishing a Sounder Basis for Microfinance

info@symbioticsgroup.com — Mon, 23 Aug 2010 11:13:40 +0200

Our earlier article on the Hidden Risks behind Microfinance Securitization raised serious concerns about the inherent and largely unrecognized risks embedded in securitizations of microcredit assets. While we believe that this article provided a useful contribution to microfinance sector, we recognize that it is sometimes easier to be a critic than an actor. As the issues we raised were serious enough to inspire action, in this follow-up we explore in greater detail some of the potential solutions that we believe could mitigate these risks.

South Korea: Borrowing Criteria Tighten

info@symbioticsgroup.com — Fri, 20 Aug 2010 17:49:12 +0200

The government said yesterday that it would strengthen lending criteria for the state-sponsored low-interest Sunshine loans for low-income families to prevent loan defaults.

Micro-Lender Said to Hire Citigroup, Morgan Stanley, JM for IPO in India

info@symbioticsgroup.com — Thu, 19 Aug 2010 18:09:11 +0200

Spandana Sphoorty Financial Ltd., India’s second-largest microfinance company, is likely to hire Morgan Stanley, Citigroup Inc. and JM Financial Ltd. to manage its initial public offer, four people with direct knowledge of the matter said. The lender may seek to raise as much as $400 million by early next year, two of the people said, declining to be named before a public announcement.

Pakistan: SBP Devising New Microfinance Strategy

info@symbioticsgroup.com — Thu, 19 Aug 2010 12:27:26 +0200

The State Bank is working on a new microfinance strategy with a greater focus on inclusive financial services that will enable the microfinance sector to cope with emerging challenges.

Launch of New CGAP Financial Inclusion Regulation Center

info@symbioticsgroup.com — Mon, 23 Aug 2010 11:22:28 +0200

As microfinance has evolved in recent years to encompass a number of different types of institutions offering a wide range of financial services to the poor, enabling regulatory environments have become increasingly important. However, it is often difficult to find information on financial inclusion laws and regulations.To help address this need, CGAP is pleased to announce the launch of the new Financial Inclusion Regulation Center (the “Regulation Center”).

CARE International UK Launches New Microfinance Website, www.lendwithcare.org

info@symbioticsgroup.com — Thu, 19 Aug 2010 10:31:03 +0200

CARE International UK, an affiliate of the aid agency CARE International, has launched www.lendwithcare.org, a microfinance website through which the public may provide funding to CARE’s partner microfinance institutions. The website’s mission is to raise money to assist individuals in the developing world reach economic independence by providing loans to start or improve small businesses.

New program to Support Microfinance Institutions in Bolivia

info@symbioticsgroup.com — Tue, 17 Aug 2010 15:02:27 +0200

The initiative, which involves granting local currency loans to financial institutions serving the MSME sector, has been successfully executed by CAF in countries such as Mexico, Colombia and Peru.

Southern Sudan Microfinance Industry Seeks to Expand Loan Services

info@symbioticsgroup.com — Tue, 17 Aug 2010 14:55:29 +0200

Microfinance practitioners in Southern Sudan recently challenged donors and other industry stakeholders to help them reach more borrowers by focusing on two basics: building capacity and listening to clients.

Microlender, First in India to Go Public, Trades Higher

info@symbioticsgroup.com — Tue, 17 Aug 2010 11:22:42 +0200

The first microfinance company to sell stock to the public in India got a strong endorsement from investors on Monday when its shares closed up 10.5 percent on the first day of trading.

Omidyar Network gives Kiva $5M

info@symbioticsgroup.com — Mon, 16 Aug 2010 09:19:02 +0200

Omidyar Network has made a $5 million, three-year grant to Kiva.org. This grant is the largest that San Francisco-based Kiva has received since the microlender was founded in October 2005.

Raising Awareness about Microfinance in Turkey

info@symbioticsgroup.com — Mon, 16 Aug 2010 09:15:42 +0200

There is a substantial demand for microfinance in Turkey considering the needs of underserved, unemployed women and of small-and-medium-sized enterprises that have very limited access to finance in conducting their business ventures.

India becomes spawning ground for global micro-insurance products

info@symbioticsgroup.com — Tue, 10 Aug 2010 14:42:47 +0200

Huge potential for micro-insurance. But this is just the first flush of success. Long-term profitability at the bottom of the pyramid, as Allianz has learnt in India, won’t be easy. Company officials tell an interesting story to illustrate this.

Microfinance: Keeping the Mission When Non-Profits Become For-Profits

info@symbioticsgroup.com — Tue, 10 Aug 2010 14:47:48 +0200

Most people with a lively interest in microfinance know that the majority of microloans dispensed throughout the world today come from for-profit microfinance institutions, rather than donation-dependent non-governmental organizations (NGOs).

IADB Loan Boosts Micro-Credit for Women in Peru

info@symbioticsgroup.com — Fri, 06 Aug 2010 18:40:35 +0200

The Washington-based Inter-American Development Bank (IADB) has raised money in a novel way for a micro-credit scheme in Peru aiming to provide small loans to women entrepreneurs who would normally not qualify for business loans.

Bangladesh: Lending Rates for MFIs to be Fixed Soon

info@symbioticsgroup.com — Fri, 06 Aug 2010 18:35:53 +0200

The Microcredit Regulatory Authority (MRA) will soon finalise the lending rate for the country's Microfinance Institutions (MFIs), Bangladesh Bank (BB) Governor Dr Atiur Rahman told a seminar here on Wednesday in the city.

Nigeria: Nasarawa State Government to Establish 13 Micro-finance Banks

info@symbioticsgroup.com — Fri, 06 Aug 2010 18:30:21 +0200

Nasarawa State Government has expressed its readiness to establish micro finance banks in the 13 local government areas in order to enhance business activities in the state.

Microfinance Institution Ujjivan Raises $10 Million via NCD Route

info@symbioticsgroup.com — Thu, 05 Aug 2010 11:15:04 +0200

Bangalore based microfinance institution Ujjivan Financial Services Private Limited, has today raised 45 million rupees ($10m) by way of private placement of Non-Convertible Debentures (NCDs), said a report in Microfinance Focus.