Companies that provide banking services in developing countries are attracting private investment. But is the industry losing sight of its mission to alleviate poverty?
The Microfinance Information Exchange, Inc. has announced that the microfinance taxonomy it developed has been officially acknowledged by XBRL International, the coordinating body for all XBRL activities and standards.
“There is nothing that has been more important to me over the course of my lifetime than advancing the rights of women and girls,” said Secretary of State Hillary Clinton, in a Washington speech Nov. 6. “And it is now a cornerstone of American foreign policy.”
A new focus inside the State Department is financial inclusion: ensuring that women have access to savings accounts, health insurance, home ownership and business funding.
A new focus inside the State Department under Secretary Hillary Clinton is financial inclusion: ensuring women have access to savings accounts, health insurance, home ownership and business funding.
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More MFIs than ever before are using deposits such as savings accounts and time deposits to fund their operations and expansion, according to a new study by the Microfinance Information Exchange, Inc. (MIX).
The report focused on the question whether microfinance institutions (MFIs) that mobilise deposits are serving the low income and poor client with savings products.
The hallmarks of a mature microfinance investment market will include ready availability of high-quality information about MFIs (microfinance institutions), a wide range of investors, and active trading with ease of entry and exit, says Elisabeth Rhyne in Microfinance for Bankers and Investors ( www.tatamcgrawhill.com ). When that happens, MFIs will be able to raise funds at favourable costs that accurately reflect their risk and return profiles, she adds.
Impoverished Cambodia has emerged as a global microfinance leader, becoming the first Asian nation to hold lenders accountable to their original mission of poverty reduction. If a new global initiative aimed at promoting greater transparency over microfinance institutions (MFIs) recently launched here gains traction, the multi-billion dollar industry could be set for a shake-out.
After showing growth early this decade, profit margins of microfinance institutions have flattened relative to their asset bases, finds analysis of data between 2005 and 2007 by the Microfinance Information Exchange, Inc. (MIX). MIX announced the findings on Wednesday in its latest issue of MicroBanking Bulletin, covering benchmark trend lines of 487 MFIs in 78 countries.
The global financial crisis that developed in rich nations is leaving practically no corner of the financial world unscathed, including microfinance, the small-scale financial services offered to the world’s poor, a new survey reveals.