News ` BlueOrchard, a global leader in commercial microfinance investment management, grew its assets by nearly one third in 2008, according to initial financial results for the year. As at 31 December 2008, BlueOrchard had USD 870 million total assets under management of which USD 670 million were invested with 130 microfinance institutions (MFIs) in 40 countries, up from investment portfolios of USD 580 million at the end of 2007 and USD 307 million at the end of 2006.* BlueOrchard estimates that in 2008 its partner MFIs reached roughly 9 million micro-entrepreneurs worldwide, more than half of them women.
CFO of SKS Microfinance said, ``with this transaction, a new asset class is born. For the first time in the Indian MFI history, a securitized pool is rated P1+ (SO) which is the best possible rating and showcases SKS`s structuring and financial innovation skills.`` Read more: http://myiris.com/newsCentre/ newsPopup.php? fileR=20090402191917203&dir=2009/04/02
Read More : http://www.blueorchard.com/jahia/ Jahia/newsArchive#3544
Leading international mobile money services provider Mi-Pay has announced that it will offer online and mobile international remittance solution in Sierra Leone. This will be Mi-Payâ€™s first entry in West Africa. The service will allow customers in the Sierra Leone corridor to use their mobile phone or the web to send/receive money payments to and from friends and relatives abroad. The announcement follows the launch of Mi-Payâ€™s domestic mobile money transfer solution in Sudan, which is undergoing roll out by agent-based Saraf Mobile across North Africa. It precedes the anticipated announcement of an East.
Microfinance Sector in Asia Gets Boost with Opening of New Office Source: Official Website of FDC The microfinance sector in Asia will receive a boost with the opening of The Foundation for Development Cooperation (Singapore) Ltd. FDC Singapore is an international development organisation focused on helping the poor in neighboring countries to improve standards of living through a range of development initiatives. FDC Singapore is excited about the prospects for its operational work in the years ahead and the contribution the Asia Regional Office can make to poverty reduction in developing countries in the region. Read More: http://www.fdc.org.au/files/news/2009/ March/Press-Release-Singapore-Opening.pdf SKS Microfinance concludes Rs 1 bn securitization deal with Yes Bank Source: myiris.com SKS Microfinance, India`s largest and world`s fastest growing microfinance institution, has recently completed a unique securitization deal worth Rs 1 billion with Yes Bank. The transaction the first securitization deal in India to get CRISIL`s highest safety rating - allows the bank to purchase 1, 48,950 micro loans extended to unbanked SC, ST and minorities families identified by the RBI as weaker sections and hence a priority. Announcing this landmark transaction, S. Dilli Raj, www.microfinancefocus.com
Mi-Pay Launches Mobile Remittance Service in Sierra Leone Source: finextra.com
.Read full article : http://www.finextra.com/ fullpr.asp?id=26810
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Microfinance Focus [ April 2009 ] 42
A Global Magazine on Microfinance and Sustainable Development