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Boycott Myanmar: An Open Letter to the Microfinance Community
In response to global events, microfinance has quickly ramped up its focus on refugees. But when those refugees are the Rohingya – the Muslim minority being expelled from Myanmar (and the world’s latest victims of genocide) – this new focus raises some difficult questions, says Daniel Rozas. Why isn’t anyone in the sector talking about the unspeakable atrocities being conducted and condoned in one of the fastest-growing microfinance markets in the world? “There is no way around it: When we work in Myanmar, we are complicit in ethnic cleansing,” Rozas says, in a bold call for a country-wide boycott.
- Categories
- Finance
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Press release: IFAAS and Mercy Corps join hands to promote financial inclusion in Ethiopia
Ethiopia counts around 34% Muslims amongst its near 100 million population, second largest in Africa. However, according to the World Bank Statistics in 2017, only 35% of the population have an account with a regulated financial institution, a rate that is significantly below the global average (it is estimated to be much lower among the Ethiopian Muslims).
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Bank of Ghana Begins Overhaul of Microfinance, Rural Banks
Even as public attention remains focused on the fate of Ghana’s universal banking industry, with only a month left to the dead line for recapitalization to a minimum of GHc400 million, the Bank of Ghana is now commencing with its plans to overhaul the country’s micro-finance and rural banking industries.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Skype co-founder raises $105m for Southeast Asian fintech startup
Oriente races big brands to reach unbanked Indonesians, Filipinos and Vietnamese. Oriente charges roughly 3-4% monthly interest rate, while Prentice said some microlending platforms in Southeast Asia charge more than 15%. Those who pay back in instalments are eligible for a discount of 25-50% on the interest rate.
- Categories
- Finance
- Region
- Asia Pacific
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Asian Development Bank approves $50 million for microenterprise development in Bangladesh
For the longer term, the project would develop microenterprise finance operational guidelines for microfinance institutions, including piloting for some partner organisations and a mobile-based financing application.
- Categories
- Finance
- Region
- South Asia
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WorldRemit Teams Up With BRAC Bank & bKash for Bank/Mobile Money Transfers to Bangladesh
Using the WorldRemit app or website, the Bangladeshi diaspora living in more than 50 countries may now send money quickly and securely.
- Categories
- Finance
- Region
- South Asia
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On the Ground at European Microfinance Week: Discussing Technology’s Threat and Promise – and Financial Services for Refugees
There were two topics that dominated debate at last week’s European Microfinance Week (EMW) conference: the threats and opportunities brought about by the fintech revolution in inclusive finance, and the issue of financial inclusion for refugees and internally displaced persons. The discussion of these issues ranged from hopeful to surprisingly cautionary – Sam Mendelson at the European Microfinance Platform shares some highlights.
- Categories
- Finance
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FINCA DRC introduces tablets in the field
Loan officers consider this strategy very effective and beneficial in terms of saving time and space.
- Source
- Press release
- Categories
- Finance
- Region
- Sub-Saharan Africa
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