|May 07||Mexico: Mexico's Credit Card|
Grupo Elektra's Ricardo Salinas Pliego makes his billions the old-fashioned way: by charging the poor usurious interest rates. In Mexico that's not a bad thing. In a country where 52% of people live on less than $80 a month, Salinas has become one of the world’s wealthiest people by selling goods--and credit--to Mexico’s working poor.
|May 07||Pakistan: A Microfinance Tool For an Entire Society |
Microfinance in general involves providing credit to the poor, mostly located in rural areas amid focus on women. The objective is to bring them into the financial net to allow them to develop sustainable sources of livelihood, with an ultimate objective of lifting their standard of living. While perceived as a successful model of development, it has attracted its share of criticism in recent past.
Source: The Express Tribune
|May 07||Africa: International Finance Corp., MasterCard Foundation working to expand microfinancing in Africa|
The World Bank partner devoted to developing the private sector and The MasterCard Foundation will spend millions of dollars so more impoverished Africans can get loans and other financial services, officials said Monday.
Source: The Washington Post
|May 04||China: Beijing to Learn Lessons From Indian Microfinance Fallout|
Mistakes made by microfinance institutions in India and elsewhere serve as valuable lessons to China as it seeks ways to provide basic financial services to millions of its poor.
Source: Emerging Markets
|May 04||Russia: Interest Rates on Microloans in Russia: How Much is Too Much?|
This post kicks-off a three-part series on Russia’s financial inclusion space. This short series will feature prominent voices from Russia’s microfinance industry and discuss new developments and implications for the global industry as a whole.
Source: CGAP Microfinance Blog
|May 02||Asia: ADB Secures More Than $12 Billion to Help Asia's Poorest|
The Asian Development Bank (ADB) has secured Special Drawing Rights 7.9 billion ($12.4 billion) for the next four-year phase of its concessional development fund that will provide critical financial support to fight poverty in the Asia and Pacific region.
|May 01||Tapping the Next Big Thing in Emerging-Market Banking |
Over the next ten years, an estimated 60 percent of the growth in global banking revenues will come from emerging markets. New McKinsey research shows that a particularly attractive segment will be micro-, small, and medium-sized enterprises: the revenues they generate for banks could jump from $150 billion in 2010 to more than $350 billion by 2015.