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Aid Agencies Urge Kenya to Let Somali Remittances Resume
Aid agencies urge Kenya to allow Somali money transfer firms to resume operations, expressing concern that halting remittances will hurt struggling families and relief operations in Somalia.
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- Uncategorized
- Region
- Sub-Saharan Africa
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GE Is Taking the Axe to Its Finance Arm in a Landmark Strategy Shift
Shares surge in reaction to radical restructuring for the world’s fourth-most valuable company as it returns to its industrial roots.
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- Uncategorized
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Kenya Commercial Bank Launches Islamic Banking
Kenya Commercials Bank (KCB) Group on Thursday launched its Islamic Banking unit as it seeks to tap into the growing demand for Islamic financial products across the East African region.
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- Uncategorized
- Region
- Sub-Saharan Africa
- Tags
- Islamic finance
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Eight Months on, Two Charts Raise Questions About India’s Financial Inclusion Scheme
Two of every three bank accounts opened under Jan Dhan Yojana have zero balance. Not a single insurance claim was settled during the last year.
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- Uncategorized
- Region
- South Asia
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Viewpoint: Mudra Bank Is Just What India’s Microfinance Sector Needed
Mudra Bank can provide some cohesion and impetus to this fragmented space, besides the right kind of regulation.
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- Uncategorized
- Region
- South Asia
- Tags
- microfinance
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Kenya Shuts Down Somali Remittance Firms, Freezes Accounts
Kenya has suspended the licences of 13 Somali remittance firms following the massacre at a Kenyan university last week, Somalia's central bank governor said on Wednesday, and Kenyan media reported that dozens of bank accounts had been frozen.
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- Uncategorized
- Region
- Sub-Saharan Africa
- Tags
- remittances
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Study: Only 2.8 Percent of Nigerian Adults Have Microfinance Accounts
Despite the huge numbers of Microfinance Banks, MFBs, operating in the country and regulatory authorities’ efforts to use them as channels for financial inclusion, investigations have confirmed that only 2.6 million of the adult population had MFB accounts.
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- Uncategorized
- Region
- Sub-Saharan Africa
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India’s Push for Banks for All Leaves Some Still Outside
Firozaben, a nurse at an upscale clinic here, opened an account at the state-owned Bank of Baroda Ltd. in December, attracted by the promise of an overdraft provision and accident- and life-insurance policies—all for no fee, courtesy of a government program to bring India’s masses into the banking system.
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- Uncategorized
- Region
- South Asia
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