MICROCAPITAL STORY: Nobel Laureate Muhammad Yunus Speaks Out Against For-Profit Microfinance from Asia-Pacific Microcredit Summit

Muhammad Yunus, the microfinance pioneer and winner of the Nobel Prize for founding the Grameen Bank, spoke out against the growing trend of commercial microfinance. In an interview with CNNMoney.Com, Yunus chastised those involved with for-profit microfinance by saying that “poor people should not be considered an opportunity to make yourself rich.” These remarks come at the start of the Asia-Pacific Regional Microcredit Summit 2008 in Bali Indonesia.

MICROCAPITAL STORY: The Rotarian Action Group for Microcredit (RAGM) Promotes Worldwide Rotary Involvement in Microfinance at Last Month’s 2008 Rotary International (RI) Convention by Hosting Phil Smith (Author of A Billion Bootstraps) Christopher Crane (CEO of Opportunity International), and Lynn McMullen (Co-founder of the Global Democratic Citizens Union)

Last month—June 15th through the 18th—Rotary International (RI), a service organization with 1.2 million members in over 32,000 clubs located in more than 200 countries, held its annual convention, which was attended by more than 19,000 Rotarians, participants of Rotary youth programs, and other guests. With a larger emphasis than ever before in the organization’s history, microcredit was promoted as an attractive cause for Rotarians around the world to support by establishing sustainable microfinance projects and partnering with existing microfinance institutions (MFIs). Behind the push is the Rotarian Action Group for Microcredit (RAGM), a voluntary association of Rotarians aiming to educate the general membership, standardize Rotarian/MFI partnerships, and ultimately increase Rotarian involvement in microfinance activities for the long-term.

MICROCAPITAL STORY: World Council of Credit Unions Holds Annual World Credit Union Conference

The World Council of Credit Unions (WOCCU) held its 2008 World Credit Union Conference on July 13-16, 2008 in Hong Kong. This is an annual conference meant to gather key players throughout the global credit union community in order to promote networking and discussion of best practices. Credit unions are democratic, member-owned financial cooperatives that operate as not-for-profits and use excess earnings to offer members affordable loans, returns on savings, low fees and access to other banking-style products and services. The WOCCU consists of 49,000 credit unions with over 177 million members in 96 different countries. The mission of the WOCCU is to assist its members and potential members to efficiently and successfully develop and run credit unions worldwide, empowering populations through access to quality and affordable financial services.

MICROFINANCE EVENTS: Social Enterprise Development Partnerships, Inc. (SEDPI) to Hold Training Courses Throughout Year

FINANCIAL MANAGEMENT FOR MICROFINANCE INSTITUTIONS (JUL. 31 – AUG. 2 IN MANILA)

DELINQUENCY MANAGEMENT (AUG. 4 – AUG. 6 IN VIGAN, ILOCOS SUR)

MARKET-BASED FINANCIAL PRODUCT DESIGN AND DEVELOPMENT (SEP. 1 – SEP 3. IN CEBU)

FINANCIAL ANALYSIS (OCT. 6 – OCT. 8 IN ILOILO)

STRATEGIC PLANNING FOR MICROFINANCE INSTITUTIONS (NOV. 6 – NOV. 8 MANILA)

RISK MANAGEMENT, INTERNAL CONTROLS AND AUDIT (NOV. 10 – NOV. 12 IN CAGAYAN DE ORO)

FINANCIAL ANALYSIS (DEC. 1 – DEC. 3 IN DAVAO)

MICROFINANCE EVENT: World Microfinance Forum Geneva Hosts International Symposium for Building Fair Financial Markets for All: Profitable Investment Opportunities in Micro and Small Businesses

INTERNATIONAL SYMPOSIUM FOR BUILDING FAIR FINANCIAL MARKETS FOR ALL

OCTOBER 1-2 2008 AT THE INTERNATIONAL LABOUR ORGANIZATION (ILO) IN GENEVA SWITZERLAND

Building Fair Financial Markets for All: Profitable Investment Opportunities in Micro
and Small Businesses Symposium
is hosted by the World Microfinance Forum Geneva, a public-private partnership of nonprofit and for profit institutions that promotes inclusive financial markets by hosting events and conducting research. The 2008 Symposium is geared towards investors, “financial intermediaries”, microfinance professionals and public actors. The event will feature research on microfinance investment, the relationship between microfinance and the private sector and “new products, new technology, new markets”. There will be a special focus on China and its market for microfinance.

MICROFINANCE EVENT: Brazil’s Ministério do Trabalho e Emprego (Ministry of Labor) Hosts Seminar III of the National Program for Productive Microcredit Oriented – Challenges and Perspectives on the Oriented Productive Microcredit Program (PNMPO) to be held July 2008

CHALLENGES AND PERSPECTIVES ON THE ORIENTED PRODUCTIVE MICROCREDIT PROGRAM (PNMPO)

July 15-16, 2008, IN THE AUDITORIUM OF THE INSTITUTE OF APPLIED ECONOMIC RESEARCH (IPEA) IN BRASILIA, BRAZIL

Sponsored by the Brazilian government’s Ministry of Labor, with support from the National Bank of Economic and Social Development, the event brings together academics and practitioners of microfinance, in an effort to explore new ideas on how public policies can foster growth in the microfinance sector.

MICROFINANCE EVENT: London: European Think Tank C5 Will Hold European Summit On Global Microfinance Investments in October 2008

EUROPEAN SUMMIT ON GLOBAL MICROFINANCE INVESTMENTS

OCTOBER 29-30 2008, MILLENNIUM KNIGHTSBRIDGE HOTEL IN LONDON, UK

The conference will examine how microfinance can be a potential asset class, the risks of investing, potential business models, and how to facilitate increased microfinance investment globally. The conference will include panelists, moderators and speakers from a wide-range of international banks, microfinance institutions, investment funds and rating agencies. The conference is hosted by c5, a think tank that organizes approximately 90 European conferences a year to explore business opportunities and challenges.

MICROCAPITAL STORY: Microfinance Insights Publishes Webcast of Vodafone, FINO, IIT, BASIX Leaders on Microfinance Regulation, Mobile Banking, Technology & Financial Inclusion

Through August 3, a webcast is freely available of the July 3 Microfinance Insights panel titled: “Technology and Financial Inclusion: What Works? A Discussion about Microfinance, Regulation, M-banking, Technology & Financial Inclusion.” Speakers include:

– Vijay Mahajan, Founder, BASIX

– Rajesh Dongre, Head, Mobile Business Commerce, Vodafone India

– Ashok Jhunjhunwala, Professor, Indian Institute of Technology (IIT), Chennai

– Manish Khera, CEO, Financial Information Network & Operations (FINO)

The panel event was sponsored by FINO, a provider of technologies such as smart cards and biometric devices to financial institutions.

MICROFINANCE EVENT: Agency of Transfer of Financial Technology (ATTF), Appui au Développement Autonome (ADA) and Risk Management Professionals (PRiM) Host Risk Management Excellence in Microfinance: Connecting Luxembourg to Leading MFIs Workshop to follow European Microfinance Week in Luxembourg

RISK MANAGEMENT EXCELLENCE IN MICROFINANCE: CONNECTING LUXEMBOURG TO LEADING MFIS WORKSHOP

17-21 NOVEMBER 2008, LUXEMBOURG CITY, LUXEMBOURG

This workshop on microfinance risk management is being hosted by; the Agency of Transfer of Financial Technology (ATTF), which was created by the Luxembourg Ministry of Finance to focus public funding in financial training, consultancy and technical assistance; Appui au Développement Autonome (ADA) a Luxembourg-based nongovernmental organization (NGO) that facilitates the microfinance development fund Luxmint and provides technical and financial support to Latin American, Asian and African microfinance institutions (MFIs); and Risk Management Professionals in Luxembourg (PRiM), an association that provides a forum for discussion, exchange and knowledge on global risk management topics.

MICROFINANCE EVENT: Seep Network to hold “Powering Connections” Annual Conference in November 2008 with Paper Proposals for Conference Due July 19th to SEEP Network

SEEP 2008 ANNUAL CONFERENCE

NOVEMBER 4-7, 2008 CRYSTAL GATEWAY MARRIOTT HOTEL, ARLINGTON, VIRGINIA

Through July 19th, Small Enterprise Education and Promotion Network (SEEP), an international organization with the goal of connecting microenterprise practitioners via a global learning community, will be accepting proposals, consisting of a 200 word description of topics and learning objectives for workshops and panel discussions. Multiple proposals from the same author will be accepted. All proposals should be sent to Sabina Rogers at annualconference@seepnetwork.org .

MICROFINANCE EVENT: CGAP (Consultative Group to Assist the Poor) and the Microfinance Management Institute (MFMI) Host “Funder” Training Course in Croatia

CGAP/MFMI FUNDER TRAINING COURSE

SEPTEMBER 8-12 2008 DUBROVNIK, CROATIA

Organized by CGAP (Consultative Group to Assist the Poor) and nonprofit management training organization the Microfinance Management Institute (MFMI), the “Building Inclusive Financial Systems: How Can Funders Make a Difference” course will provide an overview of microfinance as well as practical recommendations, techniques and tools for building micro-financial systems, encouraging microfinance policy, and developing microfinance projects.

MICROFINANCE EVENT: The International Institute of Islamic Business and Finance (IIIBF), the Islamic Business and Finance Network (IBF Net) and the Institute of Microfinance and Development (IMAD) Host the International Training Programs and Workshops in Islamic Finance in New Delhi India

INTERNATIONAL TRAINING PROGRAMS AND WORKSHOPS IN ISLAMIC FINANCE

OCTOBER 11-12, 2008, INDIA ISLAMIC CULTURE CENTER IN NEW DELHI, INDIA

The last in a three part series, this workshop will provide an introduction to Islamic finance on the first day and a workshop on Islamic microfinance on the second day. The workshop will explore different models for Islamic microfinance discussing both the nonprofit and for-profit sector. Additionally, examples from practical country experiences will be presented. Discussion will be initiated on the future of the Islamic microfinance sector in India.

MICROCAPITAL EVENT: The Boulder Institute of Microfinance (BI) and the Università Degli Studi di Bergamo (University of Bergamo) in Italy, with Support from the Rural Finance Program (RFP) at The Ohio State University (OSU), to Hold Conference on the Future of Rural Finance

Boulder-Bergamo Forum on Access to Financial Services: Expanding the Rural Frontier

September 18-20, 2008, University of Bergamo, Italy

The Boulder Institute of Microfinance (BI), a nonprofit organization which grew out of microfinance training programs initiated in 1995, and the Università Degli Studi di Bergamo (University of Bergamo), an institution outside of Milan, Italy that offers a one-year Master on Microfinance program, will jointly host “Boulder-Bergamo Forum on Access to Financial Services: Expanding the Rural Frontier,” a conference focusing on rural financial services meant to gather researchers, government leaders, managers of financial institutions, and representatives of international organizations for dialogue on the future of the sector. The Rural Finance Program (RFP) at The Ohio State University’s (OSU) Department of Agricultural, Environmental, and Development Economics (AEDE) will support the conference.