MICROCAPITAL BRIEF: Mercy Corps Announces Partnership With Philippine BPI Globe BanKO to Extend Mobile Banking to 1m Microfinance Clients

Mercy Corps, a US-based relief and development nonprofit, has announced plans to fund a USD 1 million partnership with BPI Globe BanKO, a savings bank in the Philippines, to expand the uptake of mobile banking services.

MICROCAPITAL BRIEF: Applications Open for European Union/Africa, the Caribbean and Pacific (EU/ACP) Microfinance Scholarships for Boulder Microfinance Training Programme 2011

The European Union/Africa, the Caribbean and Pacific (ACP) Microfinance Program is offering scholarships for ACP policymakers to participate in the Boulder Microfinance Training Program that will take place in Turin, Italy, from July 18 to August 5, 2011 [1]. The scholarship, worth EUR 3,100 (USD 4,200), will cover tuition for the three weeks of training [1]. The scholarship does not cover accommodation or travel expenses. Candidates must be policymakers such as staff members of central banks or other ministries or supervisory bodies that create or implement policies that impact access to finance within ACP [1]. The Boulder Microfinance Training Programme covers topics such as agricultural and rural finance, analyzing microfinance institution (MFI) performance, branchless banking, business planning, financial risk management, microinsurance and integrating social performance into microfinance management and reporting.

MICROCAPITAL BRIEF: Mobile Telecommunications Network (MTN) Ghana, Hollard Insurance, Mobile Financial Services (MFS) Africa, MicroEnsure Pilot “mi-Life” Mobile Money Insurance Product in Ghana

Mobile Telecommunications Network (MTN) Ghana, a division of the multinational MTN telecommunications group of South Africa, recently partnered with Hollard Insurance, a private insurance provider based in South Africa; Mobile Financial Services (MFS) Africa, a mobile payments organization based in South Africa; and MicroEnsure, a UK-based insurance intermediary owned by US-based nonprofit Opportunity International, to pilot a life insurance product called mi-Life [1] [2].

MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Focus Note Reviews Global Regulation of the Use of Banking Agents by Microfinance Institutions

A new Focus Note from CGAP (Consultative Group to Assist the Poor) examines the “global regulation of the use of banking agents by microfinance institutions (MFIs) and the issues regulators face in censoring the safe and scalable use of agents [1].”

MICROCAPITAL BRIEF: Centre for Micro Finance of Institute for Financial and Management Research (IFMR) and College for Agricultural Banking of Reserve Bank of India (RBI) Publish Joint Study on Remittance Channels

The Centre for Micro Finance at the Institute for Financial and Management Research (IFMR), a think-tank established in India, and the Reserve Bank of India’s College for Agricultural Banking, a training college for the central bank of India, recently published a report on the trends in domestic money transfers by Indian migrant workers.

MICROCAPITAL BRIEF: US-based Nuru International Offers Microfinance Services to Rural Households in Kenya Through Mobile Banking Technologies

Nuru International, a US-based outfit that seeks to empower poor people in the Kuria district of Kenya through access to clean water, food, healthcare, education and microfinance, recently began using the Mifos 2.0 cloud-based management information system (MIS), a software tool designed for microfinance institutions (MFIs), and M-PESA, a cellphone-to-cellphone money management service, to increase access to basic financial services for rural households in Kuria.

MICROCAPITAL BRIEF: Bill & Melinda Gates Foundation Pledges $500m to Expand Microsavings Over the Next 5 Years Including Grants To World Savings Bank Institute (WSBI), Vodacom Tanzania, ShoreBank International, CGAP (Consultative Group to Assist the Poor), World Bank and Yale University/Innovations for Poverty Action

The Bill & Melinda Gates Foundation, a nonprofit organization based in the US, has pledged USD 500 million over the next five years to expand savings and build a “new financial infrastructure” to bring savings services to the poor.

MICROFINANCE PAPER WRAP-UP: Non-bank E-Money Issuers: Regulatory Approaches to Protecting Customer Funds; by Michael Tarazi and Paul Breloff; Published by CGAP (Consultative Group to Assist the Poor)

By Michael Tarazi and Paul Breloff, published by CGAP (Consultative Group to Assist the Poor), Focus Note 63, July 2010, 12 pages, available at: http://www.cgap.org/p/site/c/template.rc/1.9.45715/

MICROCAPITAL BRIEF: Corporation Bank of India and United India Insurance Company Limited Sign Memorandum of Understanding Regarding Marketing and Distribution of Microinsurance Products

Corporation Bank of India, a Karnataka-based, government-owned bank, and United India Insurance Company Limited (UIIC), a Chennai-based general insurance company, recently signed a memorandum of understanding to “create awareness and to market and distribute microinsurance products through business correspondents engaged by the bank.”

MICROFINANCE EVENT: IIR To Host Mobile Money Services Africa in Johannesburg, South Africa, July 20 to July 22, 2010

Event Name: Mobile Money Services Africa

Event Date: July 20 to July 22, 2010

Event Location: Johannesburg, South Africa

Event Website: http://www.iir-telecoms.com/event/mmsa

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events

Cost: Two-day conference entry available for GBP 1,295 (USD 1,880), discount for registration before June 25, 2010. Mobile money operators are entitled to two free registrations per company. Pre-conference workshop available at extra cost.

MICROCAPITAL BRIEF: Pakistani Mobile Banking Platform, MCB Mobile, Reaches 60k Customers Served and Potential Gateway to Microfinance Banking

MCB Mobile, a Karachi, Pakistan-based partnership between MCB Bank and mobile technology developer Fundamo launched in June 2009, has reached 60,000 whom have transacted a total of PKR 1 billion (USD 11.9 million) as of April 2010 [1]. MCB Bank was founded in 1947 as Muslim Commercial Bank, and commands PKR 511 billion (USD 6 billion) as of 2009 [2]. Fundamo, founded in 2000, is a South African developer of mobile financial services software [3].

MICROCAPITAL BRIEF: Nigerian Tech Firms SystemSpecs and Maxim-Pro Release Memorandum of Understanding Targeting Microfinance Bank Enhancement

SystemSpecs, a software development firm founded in 1991 and headquartered in Lagos, Nigeria [1], and Maxim-Pro, a Nigerian financial technology firm [2], recently released a joint memorandum of understanding (MOU) expressing their commitment to the development of a technological infrastructure for Nigerian microfinance banks [3]. In March 2010, the two companies released Remita, an e-payment service for microfinance banks [4]. The service is currently used by 125 microfinance banks in Nigeria. A September 2008 World Bank report documented 840 microfinance institutions in Nigeria [5]. Of these, only seven have reported to MIXMarket, the microfinance information clearinghouse, for 2008 [6].

MICROCAPITAL BRIEF: Pakistani Government to Extend Microfinance Bank Licenses to Retail Organizations and Mobile Network Operators

The Pakistani government is currently reviewing applications for microfinance banking licenses from large retailers and mobile network operators. Syed Salim Raza, Governor of the State Bank of Pakistan, claims that his country is the first in South Asia to issue these kinds of licenses [1]. He elaborated on the scale and evolution of the branchless banking system at the April 17, 2010, Branchless Banking Conference [2].

MICROCAPITAL BRIEF: Bangko Sentral ng Pilipinas (BSP) Issues 2009 Annual Report Highlighting Increase in Access to Microfinance through Mobile Banking

Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, recently released its 2009 annual report highlighting developments in the Philippine economy and microfinance industry.