Microfinance, Innovations, Sustainable Development - Credit

World Council of Credit Unions

Gerard — Tue, 11 Jan 2011 23:52:55 GMT

World Council of Credit Unions (WOCCU) is the leading international trade association and development agency for credit unions. WOCCU promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. WOCCU advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.

This weblog is sponsored by Avgo .

Nigeria's top banker wins international recognition

Gerard — Thu, 06 Jan 2011 19:21:56 GMT

Nigeria is frequently cited as one of the most corrupt countries in the world, but its central banker has won two international banking awards. Mallam Lamido Aminu Sanusi has been named as the Central Bank Governor of 2010 for both the African continent and the entire world, by the prestigious Banker Magazine.

This weblog is sponsored by Avgo .

Afganistan: Microfinance faces hurdles in empowering women

Gerard — Tue, 04 Jan 2011 08:42:42 GMT

More than 1.5mn loans worth $831mn have been given out in the past seven years, said the Microfinance Investment Support Facility for Afghanistan (MISFA), which was set up by the government in 2003 to coordinate the sector. Thirty years of conflict have shattered Afghanistan’s economy and infrastructure, leaving two-thirds of the roughly 30mn population illiterate and at least a third in dire poverty.

This weblog is sponsored by Avgo .

India's Poor Reel Under Microfinance Debt Burden

Gerard — Mon, 03 Jan 2011 08:19:30 GMT

One of the most popular programs for helping the world's poor has gone sour in India. Microcredit, the practice of making small loans to very poor people, grew into a multibillion-dollar business. But microfinance companies have been accused of predatory lending and collection practices so harsh that they drove some borrowers to suicide. One state government in India has enacted legislation that will, in effect, put the microlenders out of business.

This weblog is sponsored by Avgo .

Shanti Microfinance Launches $772K MFI Fund

Gerard — Sat, 01 Jan 2011 02:24:36 GMT

Shanti Microfinance, a not-for-profit organization, is raising a $772,000 (£500,000) fund backed by UK and Silicon Valley entrepreneurs and venture capitalists. The firm has already disbursed £10k (USD) and plans to start its operations in Gujarat before moving to Mumbai next year.

This weblog is sponsored by Avgo .

Wokai: Contributing to Microfinance in China

Gerard — Sat, 25 Dec 2010 21:47:07 GMT

Wokai is an organization that allows people to contribute directly to microfinance institutions in China, which in turn lend the money to entrepreneurs in rural China. It is a non-profit organization based in Oakland, with core operations in Beijing, supported by individual donors, corporate sponsors, fundraising events and grants.

This weblog is sponsored by Avgo .

Analysis: Microfinance and financial inclusion

Gerard — Mon, 20 Dec 2010 00:51:59 GMT

Microfinance has come under attack in south Asia. Politicians have lined up to attack the industry – whose practitioners make small loans, generally to impecunious rural borrowers – as a racket that preys on poor people. Microfinance brings a crucial service to poor people. Rather than being attacked, it should be helped to do an even better job of assisting them to assert their financial autonomy.

This weblog is sponsored by Avgo .

ADB’s $250 million risk programme to help expand microfinance to poor

Gerard — Thu, 16 Dec 2010 01:32:06 GMT

The Board of directors of the Asian Development Bank’s (ADB) has approved a Microfinance Risk Participation Programme, marking ADB’s first large scale private sector microfinance initiative.

This weblog is sponsored by Avgo .

Muhammad Yunus: Microfinance Guru under Pressure

Gerard — Tue, 14 Dec 2010 20:29:39 GMT

Nobel Peace Prize laureate Muhammad Yunus is under pressure after critics accused him of misusing development aid. The father of microfinance told SPIEGEL ONLINE the allegations are "a total fabrication."

This weblog is sponsored by Avgo .

Microfinance India: Is Capping Interest Rates the Only Solution?

Gerard — Fri, 19 Nov 2010 03:39:54 GMT

Capping microfinance interest rates will hurt the poor. There are better ways to regulate the industry.

This weblog is sponsored by Avgo .

The Rigidity Of Microcredit

Gerard — Tue, 26 Oct 2010 14:56:40 GMT

Participants gathered at Deutsche Bank’s Wall Street office for the second day of the Microfinance Impact and Innovation Conference. Panelists included both academics and practitioners, sharing research and experiences from the field. They attempted to tackle the daunting question: how do you design credit products that work for the poor, not against them?

This weblog is sponsored by Avgo .

Suicides spark scrutiny of Indian microfinance

Gerard — Mon, 25 Oct 2010 14:52:21 GMT

A group of India's largest microfinance institutions filed a lawsuit Tuesday to block strict new regulations laid down by the state of Andhra Pradesh — a crucial market for small loans — after reports that high interest and coercive loan collection by microfinance groups had led to some 30 suicides.

This weblog is sponsored by Avgo .

European Bank for Reconstruction and Development (EBRD) Loans $8m to Export and Credit Bank (ECB) of Macedonia

Gerard — Sun, 24 Oct 2010 17:02:51 GMT

The European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London, has loaned Export and Credit Bank (ECB), a commercial bank in Macedonia, EUR 6 million (USD 8.3 million) for on-lending to local businesses undertaking sustainable energy investmets or investments aimed at improving their competitiveness in local and European markets. EBRD holds a 25 percent stake in ECB.

This weblog is sponsored by Avgo .

IFC Partners with Bank Constanta to Strengthen Risk Management Capacity in Georgia

Gerard — Wed, 20 Oct 2010 21:22:14 GMT

IFC, a member of the World Bank Group, will work with Bank Constanta to improve its risk management practices, which will help the bank increase lending to smaller businesses in Georgia. This initiative is part of a broader IFC strategy to strengthen local banks in the aftermath of the global financial crisis.

This weblog is sponsored by Avgo .

Banks encouraged to target small businesses

Gerard — Sat, 18 Sep 2010 04:59:55 GMT

Thirty-five bankers and trainers from 15 institutions in Cambodia, Laos and Viet Nam yesterday participated in a training programme on building sustainable small and medium-sized banking operations in HCM City.

This weblog is sponsored by Avgo .

Armenia: IFC Provides MFI Inecobank Support to Expand Access to Trade Finance

Gerard — Sun, 05 Sep 2010 18:46:30 GMT

The International Finance Corporation (IFC) Provides Microfinance Institution (MFI) Inecobank Support to Expand Access to Trade Finance in Armenia

This weblog is sponsored by Avgo .

Decoding microfinance

Gerard — Tue, 13 Jul 2010 21:27:49 GMT

He would have been a hardcore banker had he not branched out to microfinance. And that was because “it is a business with a social mission offering double bottom line satisfaction to all stakeholders”. Udaia Kumar, MD Share Microfin Limited Interviewed by Pranab Ghosh, Hindustan Times.

This weblog is sponsored by Avgo .

Nigeria: NAMB wants microfinance banks to patner with credit bureaux

Gerard — Mon, 12 Jul 2010 21:44:03 GMT

Matthias Omeh, president, National Association of Microfinance Banks (NAMB), on Monday advised microfinance banks to partner with credit bureaux to ascertain the status of their customers.

This weblog is sponsored by Avgo .

Rwanda: Leasing Sector to Double Next Year

Gerard — Sat, 26 Jun 2010 17:55:15 GMT

Rwanda's leasing industry is expected to grow from $30 million (Rwf17.5 billion) in 2010 to $60 million (Rwf35.1 billion) next year, the President of Rwanda Leasing Association, Sanjeev Anand said during the closing ceremony of the IFC Rwanda Leasing programme.

This weblog is sponsored by Avgo .

Burden of Financing Grassroots Economy

Gerard — Sat, 12 Jun 2010 20:07:34 GMT

Grassroots people identify easily with developmental banking, which is the reason they set money aside daily (Esusu) that would be used to grow their business as well as finance their families. So, it becomes a plus for them to have a private institution that provides funding for their business as well as refinance it in case there is misfortune that could prevent them from repaying their loans.

This weblog is sponsored by Avgo .

Funding the future of social enterprise

Gerard — Wed, 31 Mar 2010 03:17:39 GMT

Ten years ago, it was not fashionable for social enterprises to take loans. Even if they wanted to, nobody would lend them money... Many small social investment firms have emerged recently.

This weblog is sponsored by Avgo .

Saving holds key to women's empowerment

Gerard — Sat, 27 Feb 2010 23:10:24 GMT

Once upon a time, Sumitra used to roam the streets of the Indian city of Ahmedabad, collecting discarded caps which could be recycled and sold back to manufacturers such as Coca-Cola.

This weblog is sponsored by Avgo .

How to protect the world's most vulnerable banking clients.

Gerard — Thu, 25 Feb 2010 22:39:15 GMT

In reaction to the financial crisis, the U.S. banking industry and its regulators have been forced to seek new consumer protections that will put the industry on stronger ground. In marked contrast, one global subsector of the financial industry is moving proactively to ensure that client protection remains at the core of its business model. That subsector is microfinance, the provision of loans and other financial services to the poor worldwide.

This weblog is sponsored by Avgo .

Kiva President Premal Shah on the company's mission to fight poverty by lending to entrepreneurs

Gerard — Wed, 24 Feb 2010 22:52:25 GMT

Kiva President Premal Shah on the company's mission to fight poverty by lending to entrepreneurs. Video at Forbes.com

This weblog is sponsored by Avgo .

Nigeria: Data on borrowers now critical to lenders

Gerard — Wed, 24 Feb 2010 22:33:32 GMT

Ladi Smith, director, SIAO, in this interview with Daniel Obi, says Credit Awareness Nigeria Initiative is geared towards sensitising lenders on the need for credit information to avoid non-performing loans.

This weblog is sponsored by Avgo .

KNOW A MICROFINANCE ORGANIZATION: Khula Enterprise Finance (KEF)

Gerard — Mon, 01 Feb 2010 14:22:18 GMT

Khula Enterprise Finance (KEF) of South Africa provides funding to financial institutions to be channeled to socially-oriented causes.

This weblog is sponsored by Avgo .

Peer-to-Peer Lending in USA: Problems and Promise

Gerard — Wed, 08 Apr 2009 19:17:22 GMT

Sites like Prosper and Lending Club must adjust to SEC oversight. For some people, the communities of small borrowers and lenders extend a credit lifeline. Just when it might have proved most useful, peer-to-peer lending has been severely hamstrung by the U.S. Securities & Exchange Commission's efforts to get a regulatory handle on the fledgling industry. With the credit crisis making it harder and harder for cash-strapped households and small businesses to get bank loans, the opportunity for creditworthy applicants to borrow up to $25,000 from strangers at slightly higher interest rates was seen as something of a godsend.

This weblog is sponsored by Avgo .

FINO enrolls 5 Million unbanked Indians to avail microfinance service

Gerard — Mon, 06 Apr 2009 19:50:29 GMT

Financial Information Network and Operations Ltd. (FINO), a Mumbai-based biometric-enabled smartcard solutions provider, engaged in providing financial, non-financial products and services to the unbanked rural masses has enrolled 5 million customers to avail them basic banking and insurance services.

This weblog is sponsored by Avgo .

Solomon Islands Solar: A New Microfinance Concept Takes Root

Gerard — Sun, 05 Apr 2009 19:45:54 GMT

Those most in need of new renewable technologies are often least able to raise the finance necessary to fund such development. Now, a new commodities exchange scheme is bringing renewables to the South Pacific using a novel rural payment method. Binu Parthan explains how the scheme works.

This weblog is sponsored by Avgo .

Support microcredit to help disadvantaged people, says EU Parliament

Gerard — Thu, 02 Apr 2009 22:59:36 GMT

Parliament adopted a legislative report on a proposal to support the growth of microcredit institutions in the EU. The report drafted by Zsolt Laszlo Becsey (EPP-ED, HU) was approved by 574 votes in favour, 23 against and 12 abstentions.

This weblog is sponsored by Avgo .

Cambodia: Lenders see rise in bad microloans

Gerard — Wed, 01 Apr 2009 21:33:39 GMT

Cambodian microfinance institutions say economic crisis is taking its toll on the MFI sector and increasing the number of nonperforming loans to more than 1 percent. Microfinance lenders say the economic crisis is leading to higher rates of nonperforming loans in 2009. Last year, bad loans were just 0.67 percent of total lending.

This weblog is sponsored by Avgo .

French Economist Jacques Attali Underscores Role of Micro-Finance in Efforts at Reducing Poverty

Gerard — Wed, 01 Apr 2009 19:01:59 GMT

Planet Finance President, Jacques Attali, on Monday, March 30, 2009, in Tunis, Tunisia, said that micro-finance could seriously help cushion the impact of the global financial crisis on Africa. Mr. Attali made the statement during a presentation chaired by the African Development Bank (AfDB) Group President, Donald Kaberuka.

This weblog is sponsored by Avgo .

Nigeria: How the coming of credit bureaux will enhance operations of MFBs

Gerard — Mon, 30 Mar 2009 23:38:12 GMT

The problems associated with borrowing from microfinance banks (MFBs) by individuals and the cost of operations of the banks will soon be a thing of the past with the coming on board of credit bureaux in the Nigerian financial institutions. Since MFBs grant loan to financially active poor without collateral, it is possible for individuals who consider themselves smart to take loan from different banks with different information.

This weblog is sponsored by Avgo .

Erin and George’s excellent microcredit adventure: Students Set To Cycle Across Europe To Raise Funds

Gerard — Wed, 25 Mar 2009 22:54:31 GMT

What if someone approached you and said, “Come up with four grand and I’ll let you spend your summer fighting athletes’ foot, near-death traffic experiences and the glorious state of having ass-rash?” It might sound like an abduction or ransom situation to some. But two UBC students have willingly signed up for this.

This weblog is sponsored by Avgo .

Kiva To Bring Micro-Loans To U.S.

Gerard — Tue, 24 Mar 2009 21:40:17 GMT

Non-profit Kiva.org plans to launch system of small loans in the U.S.

This weblog is sponsored by Avgo .

Are Islamic countries less affected by the financial crisis?

Gerard — Sat, 21 Mar 2009 22:21:33 GMT

Islamic banks are generally doing better in today’s uncertain economic times than their Western colleagues. So our financial institutions have a lot to adopt from Islamic economic system.

This weblog is sponsored by Avgo .

Muhammad Yunus : Need to support struggling SMEs

Gerard — Sat, 21 Mar 2009 22:09:34 GMT

Nobel Peace Prize winner Muhammad Yunus from Bangladesh earlier this week made a valiant call for a bailout package for the world’s poor. At a recent meeting in Tokyo, the microfinance guru warned that the global economic crisis will hit the world’s poorest people the hardest and that “there is no bailout package for them.”

This weblog is sponsored by Avgo .

Africa: Banks take a new interest in women

Gerard — Fri, 20 Mar 2009 16:34:35 GMT

About half of all African enterprises are owned by women. “We are not waiting. We are moving,” says Pilda Modjadji, a founding member of the Pankop Women Farmers Forum in Mpumalanga, South Africa. “We mean business.”

This weblog is sponsored by Avgo .

The Dangers of Leverage in Credit

Gerard — Wed, 18 Mar 2009 18:56:44 GMT

Credit, according to Professor Muhammad Yunus, is a fundamental human right. However, if not handled with care, the magnification effect inherent in leverage can make it dangerous. One need only look at the current economic spiral to see the result of the provision of credit gone dangerously awry. Credit must be deployed to microfinance borrowers judiciously in order to minimize the risk of non-repayment, as this would cause lenders, themselves levered, to suffer magnified losses. Vinay Nair, an Executive Director at J.P. Morgan currently on sabbatical, explains that it is imperative to avoid over-leverage to avoid losing control.

This weblog is sponsored by Avgo .

Oikocredit: Profit for Good Use - An Example of Ethical Financial Group

Gerard — Sun, 15 Mar 2009 22:14:59 GMT

Oikocredit, as a worldwide cooperative society, promotes global justice by challenging people, churches and others to share their resources through socially responsible investments and by empowering disadvantaged people with credit.Oikocredit believes that poor people can build themselves a better life, if only given the chance. If only given credit.

This weblog is sponsored by Avgo .

Microfinance in China: Growth and Struggle

Gerard — Fri, 13 Mar 2009 20:34:53 GMT

Microfinance in China is poised for a significant expansion as the government, Non-governmental Organizations (NGOs) and commercial banks begin to explore ways to provide the country's most impoverished people with greater access to credit. According to Bai Chengyu, secretary general of the China Association of Microfinance, after 10 years of development, microcredit has entered a transition phase and is now moving "from experiment to large-scale commercial development."

This weblog is sponsored by Avgo .

The Microcredit Summit Campaign - More than 100 Million of World’s Poorest Benefit from Microcredit

Gerard — Thu, 12 Mar 2009 19:01:08 GMT

More than 106 million of the world’s poorest families received a microloan in 2007, surpassing a goal set ten years earlier, according to a report released today by the Microcredit Summit Campaign. Microloans are used to help people living in extreme poverty start or expand a range of tiny businesses such as husking rice, selling tortillas, and delivering cell phone services to remote villages.

This weblog is sponsored by Avgo .

Opengate MFB is Opening Gates for the Poor in Nigeria

Gerard — Thu, 12 Mar 2009 18:57:35 GMT

One of the major challenges confronting micro finance banks in Nigeria is the ability to maintain liquidity and give maximum satisfaction to customers. Managing Director of OPENGATE MFB Mr. Nureni Yusuf said that in order to break even, financial institutions must be willing to forecast their cash flow and manage a balanced treasury.

This weblog is sponsored by Avgo .

Credit Bureaus: Can there be affordable and appropriate information sharing?

Gerard — Wed, 11 Mar 2009 20:11:16 GMT

Like the consumer lenders before them, MFIs are also beginning to see the value of sharing information. Yet, credit information markets are generally in their infancy in most developing countries, and if developed, are generally quite fragmented.

This weblog is sponsored by Avgo .

A star is born...

Gerard — Sun, 01 Feb 2009 23:56:40 GMT

Welcome to this blog about Microfinance, Innovations and Sustainable Development

This weblog is sponsored by Avgo .