Otoritas Jasa Keuangan (OJK), the Financial Services Authority of Indonesia, recently granted operating licenses to 10 Islamic microfinance institutions (MFIs) in the country. The MFIs are funded by unspecified donors wishing to encourage
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MICROCAPITAL BRIEF: Indonesian Online Lender UangTeman Raises $12m in Equity Funding for Consumer Loans, Research and Development
UangTeman, an Indonesian firm offering online loans of up to USD 350, recently announced it has secured USD 12 million in Series A funding from
MICROCAPITAL BRIEF: KMF and Bereke of Kazakhstan, Vasham of Indonesia Borrow $5.1m from Grameen Credit Agricole Microfinance Foundation
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services primarily to microfinance institutions, recently informed MicroCapital that it has committed to extending the following local-currency loans in phases over three years: the equivalent of USD 3.9 million to KazMicroFinance LLC (KMF) of Kazakhstan, the equivalent of USD 550,000 to Bereke of Kazakhstan, and the equivalent of USD 660,000 to Vasham of Indonesia.
MICROCAPITAL BRIEF: Water.org Launches WaterCredit Investment Fund 3 to Facilitate Access to Sanitation, Clean Water in Cambodia, India, Indonesia, the Philippines
WaterEquity, the “social impact investment” subsidiary of US-based NGO Water.org, recently launched the WaterCredit Investment Fund 3 with the goal of raising USD 50 million to “invest in enterprises serving water and sanitation needs among the world’s poor.”
MICROFINANCE EVENT: 3rd Sankalp Southeast Asia Summit; September 19 – 20, 2017; Jakarta, Indonesia
Event Name: Third Sankalp Southeast Asia Summit 2017: Local Problems, Global Solutions
Event Date: September 19 – September 20, 2017
Event Location: Hotel Bidakara; Jakarta, Indonesia
Summary of Event: The focus of the summit is to “strengthen Southeast Asia’s entrepreneurship ecosystem,” and the theme of this year’s iteration is “Local Problems, Global Solutions.” Discussions will address topics such as policy, health, energy, financial services and agriculture.
MICROCAPITAL BRIEF: MBK Borrowing $15m from FMO to Grow Group Microfinance Loan Portfolio in Indonesia
Mitra Bisnis Keluarga Ventura (MBK), a microfinance institution providing group loans to women in Indonesia, recently borrowed USD 15 million from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Netherlands-based development finance institution. This is the third loan FMO has provided to MBK
MICROCAPITAL BRIEF: Ant Financial, Emtek to Launch Mobile Payment Service in Indonesia
Ant Financial Services Group, a member of China’s Alibaba Group and the parent company of Alipay, and Elang Mahkota Teknologi (Emtek), an Indonesia-based media company, recently announced plans to launch a mobile payment platform in Indonesia. The new service will run on BlackBerry Messenger (BBM)
MICROCAPITAL BRIEF: Indonesian Government Seeks to Shift KUR Microlending to Agriculture, Fisheries, Manufacturing from Trading, Services
The Indonesian government recently announced it plans to grow the portion of its Kredit Usaha Rakyat (KUR) program that is used for agriculture, fishing and manufacturing from 22 percent of the program total to 40 percent. The remainder of KUR lending is for trading and services.
MICROCAPITAL BRIEF: Asian Development Bank Invests $1.5m in Equity in India’s M-CRIL to Expand Ratings in Cambodia, China, Indonesia, Nepal
Micro-Credit Ratings International Limited (M-CRIL), an India-based provider of rating and advisory services to the microfinance industry, recently sold an unspecified portion of its equity to the Asian Development Bank (ADB), a development finance institution with 67 member countries. One goal of the funding is to help M-CRIL expand in Cambodia, China, Indonesia and Nepal. ADB Principal Investment Specialist Anshukant Taneja said the investment will
MICROCAPITAL BRIEF: CGAP, Citi Foundation Launch Digital Financial Inclusion Policy Program in China, Indonesia, Philippines
CGAP (Consultative Group to Assist the Poor), a US-based, nonprofit research center that aims to facilitate the expansion of financial access, and the Citi Foundation, the charitable arm of US-based financial services firm Citigroup, recently launched the “East Asia Digital Financial Inclusion Program”.
MICROFINANCE PAPER ROUND-UP: Managing Risks for Smallholders in Africa, Financing Shortfall for Women-owned Enterprises in Indonesia, Perspectives of Banks in Emerging Countries on Financial Inclusion
“Finance for Smallholders: Opportunities for Risk Management by Linking Financial Institutions and Producer Organisations;” by J de la Rive Box et al; published by the Food & Business Knowledge Platform, Agri Pro Focus and the Platform for Inclusive Finance NPM; May 2016; 22 pages; available at: http://www.inclusivefinanceplatform.nl/documents/npm%20summary%20report%20finance%20for%20smallholders.pdf
MICROCAPITAL BRIEF: Symbiotics Issues Bonds Supporting SME, Rural Finance: $12m for Costa Rica’s Banco Improsa, $10m for Indonesia’s Mitra Bisnis Keluarga (MBK) Ventura, $6m for Armenia’s Armeconombank
Symbiotics Group, a Switzerland-based for-profit investment intermediary, recently informed MicroCapital that it has issued local-currency bonds
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $555k to Indonesia’s Koperasi Mitra Dhuafa (Komida)
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has loaned the local-currency equivalent of EUR 500,000 (USD 555,000) over three years to Koperasi Mitra Dhuafa (Komida), an Indonesian lender to women.
MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Funds Loan $9.6m to Microfinance Institutions (MFIs) in Bolivia, Cambodia, Colombia, Ecuador, India, Indonesia, Paraguay, Zimbabwe
During April 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 9.6 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in Bolivia, Cambodia, Colombia, Ecuador, India, Indonesia, Paraguay and Zimbabwe. USD 2 million of this total was invested in an MFI based in Phnom Penh, Cambodia, which has 181 service points and provides financial services to clients in rural regions of the country. Financial information on the organization is not available.
MICROCAPITAL BRIEF: Bank Negara Indonesia (BNI) to Distribute Funds from Government-Backed Kredit Usaha Rakyat (KUR) Microloan Program via Rural Banking Members of Perbarindo
Bank Negara Indonesia (BNI), a state-owned bank in Indonesia, recently signed an agreement with Perbarindo, an Indonesian association of rural banks, to support the government-backed microloan program Kredit Usaha Rakyat (KUR) channeling “subsidized loans” to micro- small and medium-sized enterprises.
MICROFINANCE EVENT: Mobile Money Asia, January 19-21, 2016, Jakarta, Indonesia
Event Name: Mobile Money Asia 2016
Event Date: January 19-21, 2016
Event Location: Pullman Jakarta Central Park Hotel, Jakarta, Indonesia
MICROCAPITAL BRIEF: Perhimpunan Baitul Maal wat Tamwil Indonesia Implements Islamic Financial Empowerment Program Including Grants, Subsidized Loans, Market-Rate Credit
Perhimpunan Baitul Maal wat Tamwil (BMT) Indonesia, a financial cooperative coordinating 150 of Indonesia’s microfinance institutions that employ the BMT model of Islamic finance, has implemented a three-stage financial empowerment program that aims to benefit low-income individuals in the country.
MICROCAPITAL BRIEF: Asian Development Bank (ADB) to Finance a Loan Program of $400m to Promote Financial Inclusion in Indonesia
The Asian Development Bank (ADB), a Philippines-based multilateral development finance institution, has committed to loaning USD 400 million toward its Financial Market Development and Inclusion Program (FMDIP) for Indonesia.