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Indonesia comes out with regulations for P2P lending platforms
Following the release of e-commerce roadmap in November, Indonesia ended 2016 by coming out with a new set of rules for the fintech sector, specifically regulating peer-to-peer (P2P) lending platforms. The policies had long been anticipated by players, who had been working closely with the Indonesian financial services authority (OJK) to come up with rules governing lenders and borrowers.
- Categories
- Financial Inclusion
- Region
- South Asia
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Malaysia’s EthisKapital Claims “World’s First” Licensed Islamic P2P/Crowdfunding Platform
The Securities Commission Malaysia awarded six peer to peer licenses, one of which is the world’s first license for Shari’ah-compliant P2P finance. EthisKapital will be focused on funding small businesses and real estate development projects. The team is spearheaded by UmarMunshi, who is also the Chairman of the newly-formed Islamic Fintech Alliance, and supported by former senior World Bank and Barclays Bank executives.
- Categories
- Financial Inclusion, Technology
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Beyond the Lending Club Scandal – Why Marketplace Lending is Still Needed in Emerging Markets
Renaud Laplanche, the CEO of industry pioneer Lending Club, resigned in May amidst rumours of fraud and malpractice. Since then, critics have been trying to write off marketplace lending as a flawed business model. But it's too early to discount the value of the entire industry – especially as it emerges in markets like India and China to address the critical needs of SMEs.
- Categories
- Financial Inclusion
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MasterCard Drives New P2P Solution in Bangladesh
In a quartet joining forces to bring mobile cross-border payments to 22 million Bangladeshis, MasterCard is linking up with Western Union, bKash and BRAC bank.
- Categories
- Financial Inclusion, Technology
- Region
- South Asia
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Viewpoint: Regulators Should Leave China’s P2P Sector Alone
I got into a shouting match with my 83-year-old father-in-law the other day in Shanghai. He had invested 300,000 yuan ($45,940) in Zhongda, an obscure peer-to-peer lending company based in Zhejiang Province. So far he has not suffered a loss from his adventure but he has refused to pull his money out despite my insistence that he do so.
- Categories
- Investing
- Region
- South Asia
- Tags
- investment, lending, peer lending
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Overcoming Assumptions and Prejudices to Forge a Network of Self Reliance: Why Zidisha targets young, tech-savvy entrepreneurs with loans
The nonprofit Zidisha built a different kind of micro-lending platform: One that is peer-to-peer, transparent and caters to entrepreneurs who came of age during the Internet era. In part two of our interview with CEO Julia Kurnia we discuss how Zidisha maintains its borrower-friendly focus, differentiates itself from other lending networks, and holds steadfast to the idea that loans are better than cash transfers.
- Categories
- Financial Inclusion
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Microlending Peer to Peer … and Back Again: After six years, Zidisha CEO presses for low-debt loans, high transparency
Many have called for more transparency and increased accountability in microcredit - and raised concerns about the often high cost of microloans to poor recipients. Since it was founded six years ago, the nonprofit Zidisha has sought to address these issues by providing a direct connection between lenders and entrepreneurs. CEO Julia Kurnia discusses the model and its challenges in part one of this Q&A.
- Categories
- Entrepreneurship, Financial Inclusion
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Kiva Winding Down Kenyan Operations of Peer-to-Peer Microfinance Lending Platform Kiva Zip
Kiva, a US-based microfinance intermediary, recently announced that it is winding down its peer-to-peer microfinance lending platform Kiva Zip in Kenya. Since its inception in 2012, Kiva Zip has enabled users to lend directly to microentrepreneurs in Kenya and the US. Loans in Kenya are distributed through M-Pesa, a mobile money transfer service. Most of Kiva’s loans differ from those through Kiva Zip in that they are intermediated by microfinance institutions. As of 2015, Kiva Zip had received deposits from approximately 8,000 direct lenders and disbursed the equivalent of USD 1.8 million in local currency to approximately 6,500 borrowers in Kenya. As of the same date, Kiva Zip reported a repayment rate of 91 percent [1].
- Categories
- Financial Inclusion
- Region
- Sub-Saharan Africa
- Tags
- lending, microfinance, peer lending
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