Aug. 20
Mexico: Unlocking Barriers - Advances in Rural Mobile Banking in Mexico
The banking industry in Mexico estimates there are at least 30 million people that could be integrated to the formal financial system during the following years. However, this is not likely to happen through traditional banking, but through new schemes that leverage existing retail infrastructure and mobile phones to reach the lower segments of the population.
Source: CGAP
Aug. 15
Do We Need a New Standard of Microfinance Governance? Or Do Boards Just Need to Do Their Jobs?
The conversation about the need for Microfinance Institutions (MFIs) boards to focus more heavily on governance of social objectives misses the real question: whether the boards of MFIs are adequately fulfilling the role of company board.
Source: Michael and Susan Dell Foundation Blog
Aug. 15
India: Financial Inclusion - Miles to Go
Despite impressive growth claims by banks ever since Reserve Bank of India pushed for financial inclusion, reality seems different. “Even where bank accounts are claimed to have been opened, verification has shown these accounts are dormant." Financial inclusion still remains an incomplete task.
Source: The Indian Express
Aug. 15
Tanzania: Shilling Loses Ground Against Dollar
The shilling has continued to lose against the US dollar as importers' demand outweighs inflows of the hard currencies in the local market. National Microfinance Bank (NMB) said in Dar es Salaam the local market was still liquid although the shilling lost the battle against the greenback, sliding by 5/- compared to the end of last week.
Source: AllAfrica
Aug. 14
Bangladesh: Dhaka Forecloses the Grameen Brand
For the past 18 months in Bangladesh, the specter of a government takeover has haunted Grameen Bank and its founder, Nobel Prize winner Muhammed Yunus. Many thought Mr. Yunus was imagining the threat, but this month the Awami League government of Sheikh Hasina finally showed its hand. Her cabinet decided to push the microfinance lender's elected board of trustees aside and give power to the government-appointed chairman to name a selection committee that will soon find a new managing director.
Source: The Wall Street Journal
Aug. 14
Council of Microfinance Equity Funds Issues New Guidelines for Corporate Governance
The Council of Microfinance Equity Funds (CMEF), a membership organization of leading microfinance equity investors, today announced the release of a new, enhanced version of its corporate governance manual, "The Practice of Corporate Governance in Microfinance Institutions."
Source: Yahoo Finance
Aug. 14
Launches Mobicash Mobile Money Banking to Increase Access to Financial Services
The Burundi Commercial Bank (BANCOBU) and the east African country’s Telecommunications Company (ONATEL) Tuesday launched here the Mobicash mobile money banking product to increase the rate of access to the country’s financial services currently estimated at about 4 percent.
Source: MobileMoneyAfrica
Mexico: Unlocking Barriers - Advances in Rural Mobile Banking in Mexico
The banking industry in Mexico estimates there are at least 30 million people that could be integrated to the formal financial system during the following years. However, this is not likely to happen through traditional banking, but through new schemes that leverage existing retail infrastructure and mobile phones to reach the lower segments of the population.
Source: CGAP
Aug. 15
Do We Need a New Standard of Microfinance Governance? Or Do Boards Just Need to Do Their Jobs?
The conversation about the need for Microfinance Institutions (MFIs) boards to focus more heavily on governance of social objectives misses the real question: whether the boards of MFIs are adequately fulfilling the role of company board.
Source: Michael and Susan Dell Foundation Blog
Aug. 15
India: Financial Inclusion - Miles to Go
Despite impressive growth claims by banks ever since Reserve Bank of India pushed for financial inclusion, reality seems different. “Even where bank accounts are claimed to have been opened, verification has shown these accounts are dormant." Financial inclusion still remains an incomplete task.
Source: The Indian Express
Aug. 15
Tanzania: Shilling Loses Ground Against Dollar
The shilling has continued to lose against the US dollar as importers' demand outweighs inflows of the hard currencies in the local market. National Microfinance Bank (NMB) said in Dar es Salaam the local market was still liquid although the shilling lost the battle against the greenback, sliding by 5/- compared to the end of last week.
Source: AllAfrica
Aug. 14
Bangladesh: Dhaka Forecloses the Grameen Brand
For the past 18 months in Bangladesh, the specter of a government takeover has haunted Grameen Bank and its founder, Nobel Prize winner Muhammed Yunus. Many thought Mr. Yunus was imagining the threat, but this month the Awami League government of Sheikh Hasina finally showed its hand. Her cabinet decided to push the microfinance lender's elected board of trustees aside and give power to the government-appointed chairman to name a selection committee that will soon find a new managing director.
Source: The Wall Street Journal
Aug. 14
Council of Microfinance Equity Funds Issues New Guidelines for Corporate Governance
The Council of Microfinance Equity Funds (CMEF), a membership organization of leading microfinance equity investors, today announced the release of a new, enhanced version of its corporate governance manual, "The Practice of Corporate Governance in Microfinance Institutions."
Source: Yahoo Finance
Aug. 14
Launches Mobicash Mobile Money Banking to Increase Access to Financial Services
The Burundi Commercial Bank (BANCOBU) and the east African country’s Telecommunications Company (ONATEL) Tuesday launched here the Mobicash mobile money banking product to increase the rate of access to the country’s financial services currently estimated at about 4 percent.
Source: MobileMoneyAfrica
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