News Archive - Page 270 of 366

Recent Developments, <br /> Key Innovations, and <br /> Insightful Reports

Recent Developments,
Key Innovations, and
Insightful Reports

Your One Stop Platform for Regular Sector Updates

Sector news

Zidisha microfinance – changing the way financial inclusion works

This post illustrates how the rationale for group borrowing, using exorbitant interest rates is outdated. According to a Centre for Financial Inclusion report, in a survey in Ghana, 18 per cent of borrowers reduced their food intake and 5 per cent pulled their kids out of school to be able […]

August 30, 2012

India: Rural indebtedness driven by multiple borrowing

According to a study conducted by NCAER Centre for Macro Consumer Research, ‘credit restraints’ lead to multiple borrowing from both formal and informal sectors, and this ends up becoming the primary driver for rural indebtedness. About 11 per cent of the borrowers had multiple loans, of which 21 per cent […]

August 30, 2012

Microfinance helps fight poverty in Northern Kordofan

In a report issued by the Northern Kordofan State, microfinance has spread to almost all localities of the state, and official figures indicate that it has benefited the lives of as many as 87,444 farmers, 62,679 men and 41,787 women involved in other vocations. Read more here.

August 30, 2012

Bangladesh: Panel for Grameen to be appointed soon

As of August 22, the government of Bangladesh announced that it would take approximately a week to appoint the new Managing Director. The government promised that the entire process would be transparent. Read more here.

August 30, 2012

Uzbekistan: Microcredit assets reach approx. US$13 million

According to the ‘Law of the Republic of Uzbekistan’, as of July 2012, 31 microcredit institutions were operating in the country. The total volume of assets of these institutions combined was UZS 25.671 billion or US$13.171 million. Read more here.

August 30, 2012

India: Post equity infusion, SKS seems to have walked past its worst

With about 85 per cent of its loans in Andhra Pradesh being written off, and with a fresh infusion of equity investment, the worst seems to be over for India’s only listed microfinance institution – SKS microfinance. Read more here. In fact, Citi Bank group has also raised its target […]

August 30, 2012

India: 600 MFIs functional in Bihar, 17 blacklisted

If financial inclusion is to be measured by access to finance, then Bihar, one of India’s more economically backward states is well on its way to economic recovery. There are some 600 existent MFIs functional in the state. Read more here. Again, about 17 banks in Bihar have been blacklisted […]

August 30, 2012

China: Microfinance helps 190,000 youth start-ups

More than 190,000 youth in China have benefited from a certain microfinance scheme meant to help microenterprises start-ups, according to CCYL (Central Committee of China Communist Youth League). This scheme sponsored by CCYL and other financial institutions provides microloans to people under the age of 40. Read more here.

August 30, 2012

Nigeria: Insistence on adoption of IFRS

The ICAN (Institute of Chartered Accountants of Nigeria) has emphasized the need for microfinance institutions to adopt IFRS (International Financial Reporting Standards). While this may prove to be challenging by way of implementation, the ICAN suggests that this would help promote accountability and transparency in reporting. Read more here.