BASIX eyes Africa for global reach
Vijay Mahajan-promoted microfinance firm BASIX is planning to expand its international operations. The company recently forayed into Papua New Guinea, Timor Leste and Sri Lanka, and is now bullish on markets like South Africa, Ethiopia, Rwanda and some East African nations." We hope to reach out to over 10 countries in the coming three years. This will prove to be a significant milestone learning from its internal practice on the one hand and contributing to development sector on the other," said S Ramachandran, ... more
Posted: December 2009 : read more...
Cambodian MFI deposits rise during Q3
Deposits grew in the third quarter at the two Cambodian microfinance institutions (MFIs) licensed to hold savings, even as key sector figures said MFIs were struggling to overcome perceptions among Cambodians that their money was better off at home or in a registered bank. Bun Mony, chairman of Sathapana, which offers 5 percent on six-month deposits and 7.5 percent on longer terms, said MFIs were well-placed to lead the change of public opinion required to encourage deposits. more
Posted: December 2009 : read more...
XacBank partners with Micro Energy Credits on clean energy initiative in Mongolia
XacBank, through its partnership with Micro Energy Credits (MEC), has become the first micro-finance bank in the Northern Hemisphere to sell its carbon offsets and access financing through the carbon markets. "MEC is proud to work side by side with another pioneering financial institution that is finding innovative ways to offer better and cleaner energy choices to underserved markets in developing regions" said MEC CEO, April Allderdice. more
Posted: December 2009 : read more...
K-Rep Bank in Water Supply Financing Plan
K-Rep Bank has unveiled a multi-million shilling water supply financing initiative aimed at developing a market-based alternative for funding in the sector. The programme, known as Maji ni Maisha, blends a market-based credit model with subsidies. The bank has committed Sh110 million for 21 schemes in Kiambu, Thika, Kajiado, Makueni and Machakos in the pilot phase. Out of this commitment Sh71 million has been disbursed to 11 water schemes, where the communities are now enjoying access to clean, piped and metered water.&nb ... more
Posted: October 2009 : read more...
FMO Opens $5m Credit Line to Belarus' Bank for Small Business
The Netherlands Development Finance Company (FMO) has opened a $5 million credit line to the Belarusian Bank for Small Business (BBSB). The main goal is to develop the programme of micro-lending of the small and medium-sized business and acquisition of necessary instruments for bank's infrastructure development. The credit line has been opened for five years with a two-year delay in payment. Read the complete article here.
Posted: October 2009 : read more...
Inecobank joins "Leader" International Money Transfer System
InecoBank added to its strong suite of remittance products with its entry into the "Leader" system. "Leader" is one of the main players on the Russian market of remittances on the territory of Commonwealth of Independent States (CIS) countries. The aim of "Leader" system is to meet the needs of those who need to send or receive funds urgently with minimal expenses and a guarantee of reliability, and the money transfers are carried out in USD, RUR, and EUR. more
Posted: October 2009 : read more...
XacBank, Horus Nomadic Launch Mobile Banking Services
XacBank has announced the launch of AMAR, an innovative mobile banking service. XacBank's clients can conduct cash-based transactions and payments using their mobile phones through a network of agents and merchants. The services can be used with all mobile operators in Mongolia. AMAR is enabled by Noomadic, a mobile banking platform developed by Horus Nomadic Solutions. To complement their new service, XacBank has also established partnerships with Petrovis and Mongol Post networks, located throughout the coun ... more
Posted: October 2009 : read more...
BRAC Bank launches Universal Credit Card
BRAC Bank launched its Universal Credit Card Service with best features of different cards put into one recently. The Universal Credit Card was unveiled at a press conference in presence of the bank's senior officials. In recent years, consumers from Bangladesh have been trying out new payment methods which are more secured yet flexible. Gradually, they are using more credit cards as a popular mode of payment in home and abroad. BRAC Bank's new Universal Card is accepted both locally and globally, said Firoz Ahmed Khan, H ... more
Posted: October 2009 : read more...
Plantersbank hosts SME finance briefing for ADFIAP
Plantersbank hosted an SME finance briefing for twenty-six senior-level bankers from Bhutan, India, Malaysia, Fiji, Palau, Samoa and the Philippines as part of the study program of the Association of Development Finance Institutions in Asia and the Pacific (ADFIAP). Participants were especially interested in Plantersbank's market-driven, privately-managed approach, which is one of two successful SME development banking models presented during the week-long International Seminar-Workshop on Key Performance Indicators ... more
Posted: June 2009 : read more...
SME Field Growing in Bangladesh
Loans to small and medium enterprises (SMEs) increased by 140 percent in just one year between March 2008 and March 2009, Bangladesh Bank (BB) data shows. AEA Muhaimen, managing director of BRAC Bank that lends on an average 8,000 SME customers a month, reinforced the market perception of growth with their numbers. He said: “Earlier, banks have failed to brand SME. Now they are coming up realising that the sector is the engine of growth."
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Posted: June 2009 : read more...
