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Press Release: Microfinance Leaders Offer Model Law Resource for Financial Consumer Protection
The Microfinance CEO Working Group has published Client Protection Principles: Model Law and Commentary for Financial Consumer Protection. This Model Law provides a framework of suggested legislation for financial consumer protection in the microfinance and broader financial inclusion industry.
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Viewpoint: The Evolving Microfinance Revolution Has Yet to Run Its Full Course
Forty years ago, before microfinance was called microcredit, before it even had a name, I made $50 loans to 800 Guatemalan farmers in the form of six bags of 12-24-12 fertilizer, which dramatically increased their yields on the plots of maize and beans they cultivated.
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Viewpoint: India’s MFI Rules Need More Thought, or Else They Can Go Wrong
The microfinance industry has witnessed many changes since the 2010 crisis. Recently, the Reserve Bank of India (RBI) eased some lending norms for microfinance institutions (MFIs), which will mean enhanced access to credit for customers. Also, the government has proposed that the Mudra Bank (Micro Units Development Refinance Agency Bank) will regulate MFIs. Alok Prasad, chief executive officer, Microfinance Institutions Network (MFIN), a self-regulatory organization for non-banking finance company (NBFC) MFIs, talks about regulatory challenges in the industry and how the future of microfinance may evolve. Edited excerpts:
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- Region
- South Asia
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- lending, microfinance
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The Power of Texting: How a Simple Text Message Can Make the Difference Between Success and Failure for Social Initiatives
Mobile phones are increasingly prevalent throughout the world, and researchers have found that sending text message reminders can help people follow through with their intentions, significantly increasing the success of development interventions. Roxanne Bauer explores the impact of text reminders on malaria treatment and savings initiatives, and discusses the science behind the approach.
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- Health Care, Impact Assessment, Technology, Telecommunications
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Financial Inclusion on the Final Frontier: After years of isolation, Myanmar must build inclusive finance from the ground up
After decades of isolation, a new government is helping Myanmar rejoin the rest of the world, drawing a flood of new investment. But with 80 to 90 percent of its population lacking access to formal financial services, this investment could fail to fully impact the country’s poor. Accion CEO Michael Schlein discusses the need for new entrants to approach this market with social values and principles.
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Asia-Pacific Economic Cooperation pushes microinsurance for disaster mitigation
The 21 member-economies of the Asia-Pacific Economic Cooperation (APEC) is pushing for microinsurance to mitigate the impact of natural disasters.
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- Uncategorized
- Region
- Asia Pacific
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- microfinance
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Viewpoint: Nigeria: Microfinance Banks – Helping or Killing SMEs?
To say that the Small, Medium Enterprises is the engine room for economic development is to state the least, especially, in the third world countries, where the degree of unemployment is high and where there are so many qualified applicants chasing few and sometimes not available white collar jobs.
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- Uncategorized
- Region
- Sub-Saharan Africa
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- microfinance
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Blossom Offers Islamic Micro-Financing in Indonesia Using Bitcoin
A startup that recently relocated from San Francisco to Jakarta aims to shake up micro-finance in Indonesia.Blossom‘s concept can be said to be breaking ground: it operates onBitcoin and targets the global Muslim community.
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- Uncategorized
- Region
- Asia Pacific