During the course of 2023 and 2024, Banco Central Do Brasil (BACEN) will phase in tighter regulatory restrictions on large financial technology (fintech) firms in Brazil. Using the concept of proportionality, the central bank’s new rules will
Category: Regulation
MICROFINANCE EVENT: FinovateFall; September 12-14, 2022; New York, NY, USA
The goal of the Finovate series is to spotlight innovations in financial technology (fintech) from startups and established leaders alike. Two days of the event will showcase 75 product demonstrations. A separate conference day will focus on selecting technologies to maximize competitiveness. While this year’s agenda has not yet been released, session titles from the 2021 conference include “Harnessing Partnerships to Drive Financial Inclusion & Improve Financial Health,” “The Future of Digital Identity Is Now,” “Harnessing AI [Artificial Intelligence] to Democratise Home Buying,” “Decentralised
MICROFINANCE EVENT: World Finance Conference; August 1-3, 2022; Turin, Italy
This conference promotes the exchange of ideas in research, teaching and managerial practices relating to finance, economics and banking. Although the detailed agenda for this year has not yet been finalized, the last iteration of the event included topics such as microsavings, interest rates,
MICROFINANCE PAPER WRAP-UP: “Policy Framework on the Regulation, Licensing and Supervision of Digital Banks,” Published by Alliance for Financial Inclusion
This report provides a framework for regulators and policymakers seeking to improve the way they govern digital banks, with a focus on increasing financial inclusion. It draws on “in-depth secondary research and extensive consultation with [Alliance for Financial Inclusion] member countries and regulators in other jurisdictions, and other relevant analysis of
SPECIAL REPORT: SAM (the French Acronym for African Microfinance Week) in Progress in Rwanda Until October 22, 2021
Get an overview of the five-day SAM from the ADA press release or follow the proceedings on our Twitter feed!
This feature is part of a sponsored series on the SAM 2021, which is organized by the Luxembourgish NGO ADA, the Microfinance African Institutions Network (MAIN), the African Rural and Agricultural Credit Association (AFRACA) and the Association of Microfinance Institutions in Rwanda (AMIR), with the support of the Directorate for Development Cooperation and Humanitarian Affairs of Luxembourg and the Government of Rwanda. The event is taking place from October 18 to October 22 in Kigali, Rwanda. MicroCapital has been engaged to promote and document each of the SAMs since 2015.
SPECIAL REPORT: European Microfinance Week – Online November 17-19, 2021 – Registration Now Open
Despite the pandemic, 
the European Microfinance Platform (e-MFP) once again presents one of its flagship activities, European Microfinance Week (EMW), online this November. While the detailed agenda has not yet been released, it will include the presentation of the EUR 100,000 European Microfinance Award, as always. Over three days, last year’s EMW included 130 speakers reaching 500 attendees via the internet. Registrations fees vary from EUR 40 to EUR 200. More details appear at https://registration.european-microfinance-week.eu/website/27793/.
This notice is part of a sponsored series on EMW, the next iteration of which will occur online from November 17 through November 19, 2021. This event is held annually by e-MFP, a Luxembourg-based network with approximately 130 members. MicroCapital has been engaged to cover the event each year since 2012.
Additional Resources
European Microfinance Platform (e-MFP) information on European Microfinance Week 2020
http://www.e-mfp.eu/european-microfinance-week-2020
MicroCapital coverage since 2012 of European Microfinance Week, including each European Microfinance Award
https://www.microcapital.org/category/european-microfinance-week/
MICROFINANCE EVENT: The SAM (Semaine Africaine de la Microfinance); October 18-22, 2021; Kigali, Rwanda
This year’s SAM (Semaine Africaine de la Microfinance) includes five days of conference sessions, an investors’ fair, an “Innovators’ Village,” research presentations, training sessions and workshops under the theme “Resilience of the African Inclusive Finance Sector.” The two-day conference portion of SAM includes sessions on topics such as how the COVID-19 pandemic has affected efforts to meet the UN Sustainable Development Goals, financing agricultural value chains, risk management, serving youth, digital infrastructure and post-crisis reconstruction. The other days of SAM include workshops on topics such as social performance,
SPECIAL REPORT: Building Resilience for Microfinance Clients – the SAM 2021 Conference in Kigali, Rwanda, October 18-22
MicroCapital: How will the theme resilience be addressed during the SAM 2021?
Yombo Odanou: The EU has defined resilience as “the capacity of an individual, household, community, country or region to resist, adapt and recover quickly from crises and shocks.” The dual climate and COVID-19 crises and their effects on the global economy are forcing institutions to find new ways to take advantage of this austere environment.
Christophe Hebting: We believe the discussions at the SAM can build the resilience capacity of all actors in the inclusive finance sector. This includes addressing questions such as: How can resilience be increased through structural change? In the face of climate change? Through technological innovations?
MC: How are you addressing concerns attendees may have regarding the potential transmission of COVID-19 during the event?
YO: Since the beginning of this pandemic, MAIN has initiated actions to enable its members to minimise the risk of infection, allowing them to continue
MICROCAPITAL BRIEF: Cenfri, Cornerstone, GLEIF, London Stock Exchange Collaborate on Legal Entity Identifiers (LEIs) to Boost Financial Inclusion of SMEs in Africa
Four organizations recently launched an effort to equip small and medium-sized enterprises (SMEs) in Africa with Legal Entity Identifiers (LEIs), which are 20-digit codes linked to “business card and ownership structure information about a legal entity which can be verified quickly and efficiently by anyone, anywhere, enabling organizations to know precisely with whom they are doing business.” The participating entities are
SPECIAL REPORT: “Financial Inclusion Compass 2021” Reveals a Sector Grappling with the Consequences of COVID-19 – and Trying to Look Beyond It
In
2018, e-MFP launched the first Financial Inclusion Compass, a new annual publication series to collate sector opinions on emerging short-, medium- and long-term trends in the financial inclusion sector. e-MFP is delighted to now publish the English language version of the Financial Inclusion Compass 2021 – the fourth in the series.
The survey on which this paper is based was open in May 2021, with financial services providers (FSPs), investors, donors, researchers and support services providers evaluating and describing the importance of various current Trends, rating future New Areas of Focus, and providing open-comment qualitative input on the expected (and hoped-for) direction of financial inclusion progress.
The survey had two main sections: in Section 1, respondents rated from 1-10 the current importance of a list of 20 Trends and evaluated a list of 16 future New Areas of Focus to rank their highest five in terms of future significance. Optional comments on each were possible. Section 2 had three optional and open-ended questions, with a focus on the impact of the pandemic.
The Compass received 125 responses from 39 countries. A plurality of respondents were FSPs, followed by consultants/support services providers, infrastructure organisations, funders and researchers. On the main geographic focus of respondents’ work, a plurality selected Global, followed by Sub-Saharan Africa, Asia and Latin America.
Trends
Two new trends, introduced in response to the uniquely challenging context of the pandemic, took the top two spots
MICROCAPITAL BRIEF: CGAP, GOGLA, IFC’s Lighting Global Launch PAYGo PERFORM Standards, Seeking to Boost Investment in Off-grid Solar
Two NGOs, US-based CGAP (Consultative Group to Assist the Poor) and the Netherlands-based Global Off-Grid Lighting Association (GOGLA), along with the Lighting Global program of the World Bank Group’s International Finance Corporation (IFC) recently launched a framework for measuring the outcomes of selling off-grid solar products on a pay-as-you-go (PAYGo) basis. The PAYGo Performance, Reporting and Measurement (PAYGo PERFORM) plan “offers the PAYGo solar industry a standardized and transparent set of key performance indicators (KPIs)…
MICROCAPITAL BRIEF: Solomon Islands Launches 3rd National Financial Inclusion Strategy
Prime Minister Manasseb Sogavare of the Solomon Islands recently announced the launch of the nation’s third National Financial Inclusion Strategy, which covers the years 2021 to 2025. The strategy was developed by the Central Bank of Solomon Islands and is partially
MICROCAPITAL BRIEF: ECCAS, UNCDF Pursue Better Digital Remittances To, Within Central Africa
The 11-member Economic Community of Central African States (ECCAS) and the UN Capital Development Fund (UNCDF) recently entered a two-year agreement through which they aim to expand “affordable and convenient access to digital remittances” for migrants transferring money to family members in their home countries. Priti Sinha, the Executive Secretary of UNCDF said,
MICROCAPITAL BRIEF: Fiji Passes National Payment System Act, Seeking to Boost Fintech
The Reserve Bank of Fiji (RBF) recently announced the passage of a National Payment System Act to “upgrade national payment and settlement systems” with the intent of improving electronic payments, which can be safer and cheaper for both businesses and households. The targeted solutions include
MICROCAPITAL BRIEF: Jamaica Moves Forward on Micro Credit Act to Regulate Microfinance Institutions
The Senate of Jamaica recently passed the Micro Credit Act, 2021, paving the way for its approval by the Governor-General. The legislation aims to reduce
MICROCAPITAL BRIEF: Bank of Ghana Issues Crowdfunding Policy
Bank of Ghana (BOG), the central bank of the country, recently launched a policy aiming to promote and guide the use of crowdfunding, whereby people fundraise in small amounts from many individuals. Since long before it could be performed electronically, people have used the concept to raise funds from friends and family for purposes such as business, medical, education and funeral expenses. The new policy encourages users to crowdfund via financial institutions, with the goal of
MICROCAPITAL BRIEF: CBN Rescinds Operating Licenses of 42 Microfinance Banks in Nigeria
The Central Bank of Nigeria (CBN) recently revoked the operating licenses of 42 microfinance banks (MFBs) in the country. The Nigeria Deposit Insurance Corporation
MICROFINANCE PAPER WRAP-UP: “Microcredit Regulation in Europe: An Overview;” by Cristina Ruesta, Nicola Benaglio; Published by European Microfinance Network
This paper provides an overview of the legislative environment for non-bank microfinance institutions (MFIs) in 24 countries in Europe. These institutions are not regulated in the same way as traditional banks, and the applicable legal frameworks vary significantly among countries. For example, there is no consistent maximum loan size. The term “microcredit” is used broadly, sometimes in conjunction with small equity investments and support mechanisms such as guarantees and technical assistance. Half of European MFIs include