Shafiqual Haque Choudhury is the founder and President of the Association for Social Advancement (ASA), a microfinance institution (MFI) based in Dhaka, Bangladesh serving over 5.5 million borrowers and reporting a loan portfolio of BDT 32.4 billion, or USD 482.5 million, in April 2008. Additionally, he recently served as an Advisor to the Caretaker Government of Bangladesh (December 2006 through 2007) with responsibility for the Ministry of Agriculture, Youth & Sports, and Cultural Affairs.
Search Results for: "SKS Microfinance"
MICROCAPITAL STORY: TIME Magazine: Commercial Banks Could Create Trouble for Microfinance
In its June 5 issue, TIME magazine wonders whether the recent rush of big-name financial institutions to microfinance creates new pressures that unavoidably conflict with the mission of alleviating poverty.
The entry of banks such as Citigroup or Spanish giant BBVA into the microfinance arena has undoubtedly wrought some positive changes. Competition has spurred more industry development, driven down interest rates, and expanded the offerings of microfinance institutions (MFIs) to include new products, such as savings accounts, mortgages, and insurance.
MICROCAPITAL STORY: Citibank Bangladesh Provides Microfinance Institution ASA of Bangladesh with $10m in Financing
Citibank Bangladesh (Citi Bangladesh), the Bangladeshi banking arm of Citigroup (Citi), a global financial services firm, has signed a credit facility agreement with ASA, a Bangladeshi microfinance institution (MFI), which provides ASA with USD 10 million. This financing will allow ASA to expand its microfinance portfolio and to disburse its funds to a larger number of micro-entrepreneurs. Citi Bangladesh has agreed to provide the USD 10 million in the local currency, Taka (BDT).
MICROCAPITAL STORY: Bangladesh-based ASA to Allocate Funds from Historic $150m Equity Deal Toward Microlending Outside Bangladesh
ASA International, a holding company managed and partially owned by ASA, one of Bangladesh’s largest NGOs, has announced it will use USD $150 million of equity raised from foreign investors to expand commercial lending outside Bangladesh.
MICROCAPITAL STORY: PlaNet Finance United Arab Emirates (PlaNet Finance UAE) Holds Golf Tournament Promoting Awareness about Microfinance amongst International Financial Firms
PlaNet Finance United Arab Emirates (PlaNet Finance UAE), a branch of the global non-governmental organization (NGO) which provides technical assistance and consulting to microfinance institutions (MFIs) in close to 60 countries, held a golf tournament entitled “Tee Off Against Poverty” on April 23rd at the Wadi by Faldo course of the Emirates Golf Club (EGC) in Dubai in an effort to increase awareness about microfinance amongst international financial firms and other global corporations, according to a press release on ArabianBusiness.com.
MICROFINANCE EVENT: Vikram Akula, SKS Founder and CEO, to Speak at Washington Offices of Consultative Group to Assist the Poor (CGAP) April 11, 2008
“BROWN BAG” LUNCH WITH VIKRAM AKULA OF SKS MICROFINANCE
APRIL 11, 2008, WASHINGTON, UNITED STATES
The Consultative Group to Assist the Poor (CGAP) periodic Brown Bag Lunches offer the opportunity to hear about happenings and advances in microfinance in a casual setting. This Friday at noon CGAP hosts special guest Vikram Akula, Founder and CEO of microfinance institution SKS Microfinance. Lunch will be served and, although the event is free of charge, RSVP is requested by Thursday, April 10 via cgap@worldbank.org. Event details are not available online, but CGAP may be reached at +1 202 473 9594. The CGAP offices are on the third floor of 900 19th Street NW, Washington DC.
NEWS WIRE: India: Microfinance Strongest in the South, Growing Most in the East
Source: Business Standard.
PAPER WRAP-UP: Capital Markets: A Long-Term Solution to Financial Freedom, Gil Crawford and Lauren Clark
Co-authored by Gil Crawford, CEO of MicroVest, a Washington, DC-based private microfinance investment firm, and Lauren Clark, the Communications Manager for MicroVest, released July 2007 as Volume 10-Number 1 of Microenterprise Development Review, a publication of the Inter-American Development Bank (IDB), 11 pages, available at http://www.microvestfund.com/docs/microenter_dev_%207-16-07.pdf
NEWS WIRE: India: Centurion Bank of Punjab Looks to Bring Mobile Payments to Rural Customers
Source: Business Standard.
MICROCAPITAL STORY: SKS Teams with ICICI Lombard General to Provide Health Insurance for Rural Poor in Indian States of Karnataka, Andhra Pradesh, and Orissa
Following an announcement earlier this month, SKS Microfinance (previously reported (1), (2), (3)), an Indian microlending organization, has worked with ICICI Lombard General, an Indian insurance company, to roll out a health care product for the rural poor in Karnataka, Andhra Pradesh, and Orissa by March 8 of this year. This is a continuation of a pilot program introduced in Karnataka in February 2007. The problem of health insurance, while of growing concern in Western nations, is just another symptom of the severe poverty afflicting millions in developing nations. According to United Nations Development Programme, of the one billion people in India, 950 million — 95 percent — are living without health insurance.
NEWS WIRE: India: Microfinance Institutions Partner With Traditional Insurers to Offer Health Insurance to Poor
Source: Livemint.
NEWS WIRE: India: Microfinance Sector Predicted to Total $2b By 2009
Source: The Economic Times.
MICROCAPITAL STORY: Forbes’ Special Feature on Private Investment in Microfinance Includes Top 50 Microfinance Institutions
Forbes, a American business and financial news magazine, presented the list of top 50 microfinance institutions (MFIs) of 2007 in its special feature on the private investment in the microfinance industry.
MICROCAPITAL SPECIAL FEATURE: 2007 Equity Investments in Small and Medium Sized Microbanks, Part 3 of 3
December 10, MicroCapital.org featured Part 2 of a series on 2007 Equity Investments in Small and Medium Sized Microbanks. Previously, detailed information was provided on institutions with less than USD 100 million in assets. Here, in Part 3, we provide detailed financial and outreach information on microbanks with total assets greater than USD 100 million and less than USD 200 million. The institutions are presented in ascending order based on asset size.
MICROCAPITAL SPECIAL FEATURE: 2007 Equity Investments in Small and Medium Sized Microbanks, Part 2 of 3
On December 5, MicroCapital.org featured Part 1 of a series on 2007 Equity Investments in Small and Medium Sized Microbanks. Here, in Part 2, we provide detailed financial and outreach information on microbank’s with total assets under USD 100 million. The institutions are presented in ascending order based on asset size.
MICROCAPITAL STORY: State-owned Indian Bank of Baroda (BoB) Partners with Centre for Micro Finance (CMF) for Microfinance Initiative in Dungarpur
As part of its initiative to reach the unbanked Indian population with microfinance, state-owned Bank of Baroda (BoB) has signed a memorandum of understanding (MoU) with the Centre for Micro Finance (CMF), a microfinance research institute. As of March 2007, the Bank of Baroda had 38,000 employees and 2,700 branches in 21 countries. It had USD 36.4 billion (INR 143,146 crore or 1.43 trillion) in total assets and a return on assets (ROA) of 0.72 percent.