The Grameen Crédit Agricole Microfinance Foundation (GCAMF), a foundation providing financial services to microfinance institutions (MFIs), has agreed to provide two loans to MFIs Viator of Azerbaijan and Koperasi Mitra Dhuafa (KOMIDA) of Indonesia.
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MICROCAPITAL BRIEF: Indonesia: Banks Introduce Rabu Microsavings Program at Indonesian Banking Expo (IBEX)
The Rabu Program (meaning “to save diligently”) was introduced recently at the Indonesian Banking Expo (IBEX), a conference focusing on financial inclusion.
MICROCAPITAL BRIEF: USAID, Citi to Bring Mobile Money Technology to Colombia, Haiti, Indonesia, Kenya, the Philippines
The US Agency for International Development (USAID) and Citi, a US-based bank, recently announced a partnership that will focus on increasing financial inclusion in developing countries through “mobile money” technology.
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Guarantees Half of $2.7m From Standard Chartered Bank to Mitra Bisnis Keluarga (MBK) Ventura of Indonesia
The Grameen Credit Agricole Microfinance Foundation (GCAMF), which was founded in Luxembourg by French bank Credit Agricole and Grameen Trust of Bangladesh, has reported to MicroCapital that it has issued an IDR 12.5 billion (USD 1.4 million) guarantee to Mitra Bisnis Keluarga (MBK) Ventura, an Indonesian microfinance institution (MFI), via a stand-by letter of credit through Credit Agricole Corporate and Investment Banking (CA-CIB), the investment banking arm of Credit Agricole Group.
MICROCAPITAL BRIEF: Microfinance Portfolio of Commercial Indonesian Bank CIMB Niaga Triples to $132m
Commerce International Merchant Bankers Niaga (CIMB Niaga), an Indonesian commercial bank, saw its microloan portfolio increase 352 percent from IDR 272 billion (USD 29.9 million) last year to IDR 1.2 trillion (USD 132 million) as it introduced unspecified new products and additional branches in Java, Sumatra, Bali, Kalimantan and Sulawesi.
MICROCAPITAL BRIEF: Mexico, Indonesia, Haiti Use Tiered Savings Account Requirements to Promote Financial Inclusion
Mexico, Indonesia and Haiti are responding to the challenge of balancing financial access with security by creating tiered requirements for savings accounts.
MICROFINANCE EVENT: Citi-FT Financial Education Summit 2011, Jakarta, Indonesia, November 28 – 29, 2011
Event Name: Citi-FT Financial Education Summit 2011: Empowering the Disadvantaged: Inclusive and Innovative Approaches to Financial Capability
Event Date: November 28 – November 29, 2011
Event Location: Hotel Mulia, Jakarta, Indonesia
MICROFINANCE EVENT: Indonesia Microfinance Association to Host Third Indonesia Microfinance Conference, Jakarta, Indonesia, November 30 – December 1, 2011
Event Name: 3rd Indonesia Microfinance Conference: Responsible Microfinance to Achieve Greater Financial Inclusion in Indonesia
Event Date: November 30 – December 1, 2011
Event Location: Jakarta, Indonesia
MICROCAPITAL BRIEF: Standard Chartered Indonesia Loans $3m to Bank Andara to Finance Lending, Technology Services for Microfinance Institutions
Standard Chartered Indonesia, a branch of the London-based bank Standard Chartered PLC, has announced that it will loan IDR 30 billion (USD 3.3 million) to Bank Andara, an Indonesian wholesale lender to microfinance institutions (MFIs), to expand its services to MFIs in Indonesia [1].
MICROCAPITAL BRIEF: responsAbility Loans $3m to Microfinance Institutions (MFIs) Hattha Kaksekar Limited (HKL) of Cambodia, Mitra Bisnis Keluarga (MBK) Ventura of Indonesia
responsAbility Social Investments AG, a Swiss investment company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investment totaling the equivalent of USD 3 million in microfinance institutions Hattha Kaksekar Limited (HKL) of Cambodia and Mitra Bisnis Keluarga (MBK) Ventura of Indonesia [1].
MICROCAPITAL BRIEF: Citi, OPIC Loan $20m to Microfinance Program “Danamon Simpan Pinjam” of Indonesia’s Bank Danamon
Citi Indonesia, the Indonesian arm of the global financial services company, and Overseas Private Investment Corporation (OPIC), a development finance institution of the US government, recently announced a USD 20 million term loan to fund a microfinance program of Bank Danamon of Indonesia named “Danamon Simpan Pinjam”.
MICROCAPITAL BRIEF: Editorial Touts Financial Literacy, Microsavings to Increase Financial Inclusion in Indonesia
A recent editorial in The Jakarta Post, a newspaper in Indonesia, examines the issue of access to financial services in Indonesia and highlights financial literacy as an important element in increasing financial inclusion [1].
MICROCAPITAL BRIEF: Mobile Finance Platform Fundamo, Bank Andara Aim to Extend Access to Financial Services to 40m in Indonesia
Mobile finance platform vendor Fundamo is aspiring to extend financial services to 40 million Indonesians in poor regions as part of a new partnership with Indonesia’s Bank Andara, a wholesale lender to microfinance institutions (MFIs).
MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund (rAGMF) Makes Loans Totaling $2.8m to Hattha Kaksekar Limited (HKL), Thaneakea Phum Limited (TPC) of Cambodia and Koperasi Mitra Dhuafa (Komida), Tanaoba Lais Manekat Foundation (TLM) of Indonesia
responsAbility Global Microfinance Fund (rAGMF), a microfinance investment vehicle (MIV) managed by responsAbility Social Investments AG (responsAbility), recently reported to MicroCapital that it has loaned the equivalent of USD 2.8 million to four microfinance institutions (MFIs) in Cambodia and Indonesia. responsAbility is an investment company based in Switzerland that invests in MFIs and other MIVs.
MICROCAPITAL BRIEF: The Wall Street Journal Reports on Expansion of Indonesian Banks into Microfinance Sector, $30b in Microloans Are Distributed in 5 Years
US-based newspaper The Wall Street Journal recently reported that Indonesian banks are quickly expanding into the country’s microfinance market [1].
MICROFINANCE EVENT: 5th Asian Conference on Microinsurance, July 11 – July 12, 2011, Jakarta, Indonesia
Event Name: 5th Asian Conference on Microinsurance
Event Date: July 11 – July 12, 2011
Event Location: Jakarta, Indonesia
MICROCAPITAL BRIEF: Indonesia’s Commercial Bank Tabungan Pensiunan Nasional (BTPN) Expanding Customized Microfinance Services
The Economist, a UK-based weekly news publication, recently commented on the growth of the microfinance activities of Bank Tabungan Pensiunan Nasional (BTPN), an Indonesian commercial bank. According to The Economist, BTPN’s microfinance portfolio growth is fueled by the informal economy on the populous island of Java including market traders, repair shops and household producers. BTPN equips staff with portable devices to scan fingerprints and bank cards to serve illiterate customers and also facilitate real-time information exchange between its branches and head office. BTPN also offers free financial skills training courses to its microborrowers.
MICROCAPITAL BRIEF: Building Materials Supplier Holcim, Zurich Financial Team Up to Offer Home Microinsurance in Indonesia
Holcim Limited, a Swiss building materials supplier, and Zurich Financial Services, an insurance-oriented financial services provider headquartered in Switzerland, recently joined forces to offer home microinsurance to low-income people in Indonesia.