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THE CENTRAL BANK will soon extend microfinance-oriented banks the option to convert to become regular thrift or rural lenders, following a series of reforms introduced by the regulator to open up the Philippine banking sector.
The Bangko Sentral ng Pilipinas (BSP) through Circular 929 said it will
“allow the conversion of microfinance-oriented thrift banks (TBs) and rural banks (RBs) to regular TBs and RBs as well as the conversion of their microfinance-oriented branches to regular branches,”
…N28 billion microfinance loan disbursed to 12 states By Gabriel Ewepu GUSAU – As Government reiterates its commitment to ensure rural people have financial inclusion, over 10, 000 Kastina and Zamfara States rural women in the past six years have been rescued out of poverty through the Rural Finance Institution Building Programme, RUFIN.
Chairman of National Development Planning Commission (NDPC) is warning that microfinance institutions in the country could pose a major challenge for the entire financial sector if not better supervised. The crisis bedeviling the microfinance sector, which has seen thousands of customers lose millions of their deposits Professor Kwesi Botchway said could eventually impact on the banking sector negatively.
The first-ever 'Microfinance Recognition Awards' in Pakistan will be presented to more than 30 outstanding institutions, on the occasion of the 10th Pakistan Microfinance Forum 2016, to be held on October 4, 2016, at local hotel in Karachi. This prestigious series of annual events, organized by SHAMROCK Conferences International attracts regulatory bodies, all the prolific Microfinance Banks, institutions and experts for insightful discussions and strategic planning for a brighter future.
Operations of microfinance banks in Nigeria received a boost as two microfinance institutions, Grooming Centre and Fortis Microfinance bank were given the Smart Certification for client protection.The News Agency of Nigeria (NAN) reports that the Smart certification provided an independent, objective seal of confidence that a financial institution is doing everything it could to treat its clients well and protect them from harm.The Smart campaign began in 2008 when a group of microfinance industry leaders came together to launch a campaign that establis