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Mobile payment solution from First Bank of Nigeria Ltd secures U.S. $12 Million from Gates Foundation
In apparent move to boost the nation's financial inclusion drive, the mobile payment solution from First Bank of Nigeria Ltd, Firstmonie has secured a grant of $12million US dollars from the Bill & Melinda Gates Foundation to execute the project.
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OPINION: Islamic Microfinance can eradicate poverty in Muslim world
Half of global poverty resides in Muslim world while the Muslim population is 24% of the total global population, if the dangerously increasing poverty in the Muslim community is not controlled soon then it will be alarming. These concerns were addressed by Muhammad Zubair Mughal, Chief Executive Officer, AlHuda Centre of Islamic Banking and Economics while speaking at Islamic Microfinance Symposium held at Tunis and organized by Tunis Association of Islamic Economics with association of Islamic Development Bank (IDB) and German Donor Agency GIZ.
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Financial regulators increasingly skeptical of Bitcoin
Two financial regulatory bodies have issued new Bitcoin-related warnings and sanctions this week. The first came from FINRA, the financial industry’s self-regulatory organization. It published an investor’s note on Tuesday saying that “selling and using bitcoins carry numerous risks.” The second warning came Monday from a Texas state financial regulator. That document is an emergency cease-and-desist order against Balanced Energy, an energy firm taking investment in bitcoins.
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Impact Investing: Building on Strong Foundations in the U.S.
Impact investing in the U.S. has a rich history and established communities of practice -- spanning community finance, socially responsible investment, micro-finance, housing finance, environmental finance, small business finance in underserved "emerging domestic markets," sustainable development and, more recently, social finance, which explicitly ties investment returns to social outcomes using tools like "pay for success."
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AmEx Pushes Tech to Bank the Unbanked
America's unbanked and underbanked spent $78 billion on fees and interest in 2011; $30 billion in overdraft fees. Meanwhile, 93% of branch closures over the last five years have been in low-income neighbourhoods.
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United Bank for Africa Strengthens E-banking Channels to Boost Financial Inclusion
The Division head said that UBA’s innovative e-Channels have accorded the customers triple gains of financial control, convenience and security.
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- Sub-Saharan Africa
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Microfinance Institutions Network Seeks Early Implementation of Mor Panel Report in India
"Our customers are demanding number of banking services from MFIs. They want services beyond loan offerings, including insurance, invesment opportunities, inter-bank trading services, where banks find it difficult to provide services due to various reasons," said Alok Prasad, chief executive officer (CEO), MFIN.
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Making Money While Making The World A Better Place
For those who may not be as familiar with the term, impact investments “are investments made into companies, organizations, and funds with the intention to generate a measurable, beneficial social and environmental impact alongside a financial return.”
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