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Industry body seeks government intervention to tame errant microfinance practitioners in Sri Lanka
LMFPA aims to self-regulate its 76 members through the code of conduct, particularly avoiding over indebtedness, maintaining transparency, promoting good recovery practices and maintaining healthy competition. Nafeer noted that an independent board would investigate the complaints lodged against its members and will take punitive action against errant members by terminating their membership if they continue to breach the code of conduct and same will be advertised in print media to inform the public.
- Region
- South Asia
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Beyond Inclusion: How Mission-Based Small Business Lenders are Evolving Their Definition of Impact
While microfinance institutions have grown rapidly around the globe, so too has economic inequality in developed countries. More than two decades ago, Accion in the U.S. and Opportunity Fund responded by adapting their microlending model from low-income markets to the United States. Gina Harman and Luz Urrutia, the respective CEOs of those two organizations, share new research on small loans have impacted revenues and profits for borrowing entrepreneurs, most of whom lacked the financing and resources they needed to start or grow their businesses.
- Categories
- Uncategorized
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NextBillion is on Vacation – Check Out Our Top 10 Recent Posts
With the Independence Day holiday this Wednesday, it's summer vacation time for much of the U.S. - and NextBillion is no exception. Since our editors will be enjoying some time off this week, we won't be publishing new blog content until next Monday, July 9. In the meantime, we've compiled 10 of our most-read recent posts, including some of our more thought-provoking content of the year. We hope you enjoy them, and we look forward to bringing you more original analysis and insight from the world of social business next week.
- Categories
- Agriculture, Finance, Investing, Social Enterprise
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Big winners, big losers: Kenya’s addiction to gambling
Gambling is a multi-million dollar business in Kenya, but there are more losers than winners - with an increasing number of young people chancing their luck
- Region
- Sub-Saharan Africa
- Tags
- financial health, youth
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Press Release: MetLife Social Impact Investments Rise to $50 Billion
MetLife, Inc. (NYSE:MET) today announced its impact investment portfolio grew to $50 billion in 2017, an increase of 12 percent year-over-year from 2016 to 2017, and MetLife Foundation reached more than six million low-income individuals through the fourth year of its five year, $200 million dollar commitment to financial inclusion.
- Categories
- Investing
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Using Findex Wisely: Understanding the Strengths and Weaknesses of the World’s Biggest Financial Inclusion Dataset
The Global Findex report is an essential piece of data for the financial inclusion sector, but its insights should nevertheless be treated with caution, says Daniel Rozas. Exploring some inexplicable findings in the recent Findex 2017 release, he breaks down the limits of survey-based data, and explains how Findex can be used in combination with other forms of data to get a more accurate picture of financial inclusion progress.
- Categories
- Finance
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Internalizing Innovation: It’s About Creating a Culture, Not a Product
Innovation holds the key to expanding financial health for low- and moderate-income households—but how can organizations foster a culture of innovation, rather than treating it as a one-off event or a process fix? MetLife Foundation and UNCDF are launching two new innovation hubs in China and Malaysia that aim to promote this cultural shift. Krishna Thacker and Jaspreet Singh discuss the program's unique approach.
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Press release: Experian: 78 percent of lenders believe alternative credit data improves financial inclusion
First-ever State of Alternative Credit Data report says lenders believe factoring in alternative credit data allows greater access to credit, consumers willing to provide additional information if it increases chances of approval or better terms
- Region
- North America