Daily Archives | regulation
Regulations for Financial Inclusion
December 16th, 2011
READ MOREAt the Microfinance India Summit in Delhi, experts discussed the importance of regulators in achieving the goals of financial inclusion. Kate McKee, senior advisor of the Consultative Group to Assist the Poor (CGAP) considers that regulations clarify ambiguities and is …
A Call for Microfinance Reform
December 12th, 2011
READ MOREThe Paris Appeal for Responsible Microfinance is an international petition to reform the microfinance sector and stamp out illegal and unethical practices including usurious lenders that charge impoverished clients interest rates up to 100%. The Paris Appeal signed by politicians …
Philippines: a New Ceiling for MF Loans
November 29th, 2011
READ MOREBangko Central ng Pilipinas, the financial regulator of the Pacific country where microfinance has flourished in the last decade, is reviewing the official norms for microfinancing. Analysts say that it may soon raise the ceiling for microfinance loans to allow …
Greater Flexibility for Microlending in Spain
November 10th, 2011
READ MOREIf the new microfinance legislation is passed in Spain at the beginning of 2012, microfinance institutions may enjoy greater flexibility. The new legislation has been modeled after the French law that allows non-governmental organizations, savings and loan associations, and other …
Payday Lenders Under Attack in the UK
November 4th, 2011
READ MOREIn the United Kingdom several payday lenders, for example Toothfairy Finance and wonga.com, will be circling cash-strapped adults next Christmas. Considered “legal loan sharks” they charge abusive interest rates; in the case of Toothfairy, 2,689%. Now they are under attack …
Is the Savings-led Model a Solution in India?
November 4th, 2011
READ MOREIn India some experts consider that a savings-led model may have prevented the recent microfinance crisis. Journalist Ramesh S. Arunachalam is not sure and explains some reasons, among them: the correct number of SHGs [savings self-help groups] operating in India …
Sudan Prepares for Strong Microfinance Industry
November 1st, 2011
READ MOREAccording to the CIA Factbook Sudan has suffered the effects of two civil wars and their devastating economic impact. In the lead up to the referendum on southern secession which took place earlier this year it saw its currency considerably …
A Code for Good Conduct
October 18th, 2011
READ MOREEthics and values have become major concerns for microfinance institutions through the world. The European Commission has recently released a “European Code of Good Conduct” for microcredit provision. Its recommendations and standards are aimed to foster best practices in the …
Towards Responsible Finances
October 17th, 2011
READ MOREThe main problem in the microfinance market is, doubtlessly, the responsibility of both lenders and borrowers. In a recently published research paper, the Consultative Group to Assist the Poor (CGAP) considers that the industry is stepping its efforts around this …
Arab Microfinance is Failing: Muhammad Yunus
September 13th, 2011
READ MORESome weeks ago we talked about the promising horizons of microfinance in Arab countries, where the Islamic law takes on account helping the poor according ethical and religious principles. But, in the opinion of Dr. Muhammad Yunus, creator of the …