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The inventor of microfinance has an idea for fixing capitalism

Muhammad Yunus won the Nobel peace prize for inventing microfinance, the practice of lending small sums at a low interest to allow people to start businesses. And yet he’s not a fan of capitalism.

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IFC Urges Nigeria to Deepen Capital Market

IFC Urges Nigeria to Deepen Capital Market

In order to increase access to finance and drive financial inclusion, the International Finance Corporation (IFC) has stressed the need for an improved capital market in Nigeria.The Vice-President/Treasurer of IFC, Mr. Jingdong Hua, said this at Accion Microfinance Bank Limited’s financial inclusion conference titled: “Making Financial Inclusion a Certainty in Nigeria by 2020,” that took place in Lagos at the weekend.Hua said Nigeria must develop a vibrant, deep, liquid and open domestic capital market.

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IFC injects $13.5 million into local microfinance institutions

IFC injects $13.5 million into local microfinance institutions

The International Finance Corporation, (IFC), a member of the World Bank Group, has provided a financing package of $13.5 million to various microfinance institutions in Myanmar to support the country’s critical credit demands.Improving access to microfinance will help unlock the great potential of the rural sector and small enterprises, according to the IFC.

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MICROCAPITAL BRIEF: IFC, Japan International Cooperation Agency (JICA) to Invest $1.5b in Infrastructure, Microfinance, SMEs in Bangladesh, India Over 5 Years

The International Finance Corporation (IFC), a member of US-based World Bank Group, recently agreed to launch a multifaceted project in Bangladesh and India in partnership with the Japan International Cooperation Agency (JICA), a development institution of the Japanese government. The program is slated to direct USD 1.5 billion by 2022 to “high-impact private sector projects” that “modernize infrastructure and expand access to basic services for under-served communities in emerging markets.” The first of these ventures will be the construction of a power generation station in Bangladesh wit

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Telenor Microfinance Bank Disburses First Claim Under ‘Kamyab Mustaqbil’ Program

Telenor Microfinance Bank Disburses First Claim Under ‘Kamyab Mustaqbil’ Program

Pakistan’s premier microfinance institution, Telenor Microfinance Bank (formerly Tameer Microfinance Bank) hasunder its ‘Kamyab Mustaqbil’ Takaful program.The claim was released to the family of a customer, Muhammad Ilyas, who recently succumbed to a deadly cardiac arrest, leaving his family under hefty debt and despair. In a desperate attempt to save his life, his family had loaned Rs.

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Super funds fight for financial inclusion

Super funds fight for financial inclusion

Industry superannuation funds VicSuper and HESTA are among 30 organisations forming the national Financial Inclusion Action Plan, driving inclusion and resilience for adults who are experiencing financial exclusion.The initiative, facilitated by Good Sheppard Microfinance and funded by the Australian Government, helps organisations to work towards measurable actions that will create a more financially inclusive community.

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Not seen major impact of farm loan waivers in Maharashtra, UP: Ujjivan Small Fin Bank

On the back of farm loan waivers being announced in various states, the spotlight remains on microfinance companies. Farm loan waiver is likely to impact the credit culture of small borrowers.

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Making microfinance relevant to poor again

Making microfinance relevant to poor again

Microfinance is facing trouble because the purity of its mission has been diluted.Financial services are like clean water and electricity — they are essential to leading a better life. Poor people need services like insurance, savings, remittances more than anyone, because in developing countries, poverty does not just mean low income, it means volatile income. The poor need to set aside money in times of plenty and draw it out in lean times.

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We need a bank as a partner, with or without stake: MR Rao, Managing Director, Bharat Financial Inclusion

Many microfinance companies may be in distress due to demonetization-led non repayment of loans upsetting the credit culture in rural India, but the big banks are not giving up on the segment yet. Madapati Ramachandra Rao, Managing Director of Bharat Financial Inclusion said that a fourth entity has joined the race along with IndusInd BankBSE -0.38 %, IDFC Bank and RBL Bank for a possible takeover of the company.

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