Tuesday, November 26, 2013

[MFP] Revised CGAP Newsflash: 2nd Islamic Microfinance Challenge

 

 


Revised CGAP Newsflash: 2nd Islamic Microfinance Challenge

The number of Sharia-compliant microfinance providers has nearly doubled in recent years. Even though their reach is expanding, it is still relatively small at just over 1 million of the estimated 650 million Muslims living on less than $2 a day.

The Islamic Microfinance Challenge, a global contest that invites applications from providers of Sharia-compliant microfinance products, is seeking innovative approaches to reaching unbanked Muslims. The Challenge is sponsored by CGAP, the Islamic Development Bank, Al Baraka Banking Group, and Triple Jump, and awards a $100,000 grant to help scale up the application of Sharia-compliant products by financial institutions already serving large numbers of poor people.  The Challenge is also supported by the German Ministry of International Cooperation and Development, through the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.

Read more and submit applications at www.cgap.org/islamicmicrofinancechallenge



CGAP
 

 (This newsflash was revised to clarify which organizations directly sponsored the $100,000 grant award.)
 

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[MFP] CGAP Newsflash: 2nd Islamic Microfinance Challenge

 

 


CGAP Newsflash: 2nd Islamic Microfinance Challenge


The number of Sharia-compliant microfinance providers has nearly doubled in recent years. Even though their reach is expanding, it is still relatively small at  just over 1 million of the estimated 650 million Muslims living on less than $2 a day.

The Islamic Microfinance Challenge, a global contest that invites applications from providers of Sharia-compliant microfinance products, is seeking innovative approaches to reaching unbanked Muslims. The Challenge is organized by CGAP, the Islamic Development Bank, Al Baraka Banking Group, and Triple Jump, and aims to help scale up the application of Sharia-compliant products by financial institutions already serving large numbers of poor. The German development agency GIZ is sponsoring a $100,000 grant award and video documentation to the winner of the Challenge. Applications will be reviewed by a panel of judges representing Challenge sponsors as well as other microfinance experts.

Read more and submit applications at www.cgap.org/islamicmicrofinancechallenge


CGAP
 

 

You have been sent this email because you are on the CGAP emailing list. If you prefer not to receive further emails, please email us at CGAP@WorldBank.org

 

 

 

 

 

 

 

 

 

 



 

 


 

 



 

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[MFP] Fwd: FW: Unbanked News

 

To all the savings advocates on the list :)

This article below was posted on Mr. Klingman's listserv; in the event you want to join yet another listserv, you can write to him directly and he will add you.  You will get global articles which include the topic financial inclusion (about 10 per day).

Best,
Jami



From: Charles.Klingman@fsoc.gov [Charles.Klingman@fsoc.gov]
Sent: Monday, November 25, 2013 8:01 PM
Subject: Unbanked News

 
Wall St. Cheat Sheet
 
November 23, 2013 Saturday 2:00 PM EST
 
Is Saving Money the Key to Happiness?
 
They say money can't buy happiness. However, can saving money actually make you happier than spending it? A new survey provides compelling evidence that boosting savings is one of the best habits people can take to increase happiness.
 
Money isn't everything, but it sure does help. Among those polled with savings accounts, 38 percent of people said they felt extremely or very happy, according to Ally Bank. In comparison, only 29 percent of those without savings accounts felt the same way. Overall, 84 percent of people said saving money makes them feel good -- ahead of eating healthy at 74 percent and enjoying work at 68 percent.
The more you save, the more likely you are to be happy. Of those who said they felt extremely or very happy, 34 percent had less than $20,000 in savings, while 42 percent had $20,000 to $100,000 in savings. Furthermore, 57 percent who felt happy had $100,000 or more in savings.
 
'The connection between the size of your savings account and your level of happiness may seem obvious. But here's something that may surprise you: Saving money actually affects happiness more than how much you earn, according to our survey,' explained Ally Bank.
As the chart below shows, increments of happiness tend to decrease significantly after annual income reaches more than $50,000. Of those who said they felt extremely, or very happy, 25 percent earned $25,000 to $50,000, while 40 percent earned $50,000 to $75,000. Happiness peaks at 48 percent with people who earned $100,000 to $150,000, and declines to 45 percent for those who earned over $150,000.
Unfortunately, 53 percent of people polled did not have a savings plan. However, 92 percent of people with savings accounts say that the money helps them face the unknown, which is quite comforting in today's economy. Eighty-nine percent felt proud of their savings in the bank, while 84 percent said it helps them feel independent.
Don't Miss: 5 Reasons Not to Overstuff Your Credit Cards[1]
Follow Eric on Twitter @Mr_Eric_WSCS[2]
Read the original article[3] from Wall St. Cheat Sheet
 
 

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Thursday, November 21, 2013

[MFP] New paper on 'Vimosewa’s resurgence: Increasing outreach and managing costs in a voluntary stand-alone microinsurance programme'

 

The ILO's Microinsurance Innovation Facility has recently released a new Microinsurance Paper entitled 'Vimosewa's resurgence: Increasing outreach and managing costs in a voluntary stand-alone microinsurance programme'.


Microinsurance Paper #25 features the case of VimoSEWA's ambitious programme of changes to its structure, culture, products, operations, and monitoring and evaluation in response to serious concerns about rising costs and slow growth in its voluntary microinsurance scheme. This case study reflects the tensions faced by an organization trying to be socially focused and financially viable, and demonstrates how a resilient attitude can spur resurgence.


Read the full paper at:

http://www.microinsurancefacility.org/publications/mp25


You can also read about this case in the latest Emering Insight titled, 'Leveraging culture to promote viability'


Please feel free to share with others.


Best regards,

ILO's Microinsurance Innovation Facility

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Wednesday, November 20, 2013

[MFP] Financial Inclusion and Financial Literacy Advisor for Myanmar

 

Dear Colleagues,


Two new consulting opportunities for a financial inclusion advisor and a financial literacy advisor for Myanmar have now been posted on the Asian Development Bank (ADB) website. Please register in the ADB consultant management system and then submit an electronic Expression of Interest (EOI) in the database by November 25 if you are interested.


To access the position description, please go to:


1.     http://www.adb.org/site/business-opportunities/operational-procurement/consulting



2. Click on .http://www.csrn.adb.org


 3. Select the country Myanmar 

  

4. Look for the projects:


TA 47159-001 MYA: Support for Financial Sector Reforms - Financial Inclusion Advisor

TA 47159-001 MYA: Support for Financial Sector Reforms - Financial Literacy Advisor

 

Kelly Hattel

Financial Sector Specialist (Rural and Microfinance)

Public Management, Financial Sector, and Trade Division

Southeast Asia Department

Asian Development Bank - Manila, Philippines



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[MFP] The Better Than Cash Alliance Webinar: How Much Can Be Saved? Results of New Study on the Mexican Government’s Shift to Electronic Payments

 

The Better Than Cash Alliance is pleased to announce the first in a series of case studies from our Development Results Focused Research Program (DRFRP). In this study, we took a closer look at the government of Mexico's efforts to shift from cash to electronic payments and the resulting benefits. We will organize a live webinar on December 3, 2013 where we will reveal the findings of the case study, and share lessons applicable to other stakeholders. 

To participate, please register using this link, or by clicking on the invitation below: https://www1.gotomeeting.com/register/805729144

We also welcome questions in advance of the webinar by emailing info@betterthancash.org.

Best

 

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Tuesday, November 19, 2013

Re: [MFP] Re: Microcredit disaster in South Africa

 

Milford ... thank you for drawing attention to your article in the Guardian about the impact of microfinance in South Africa. 

I am appalled at the superficial analysis about microcredit that has been going on for years, but nobody has seem fit to pay much attention to what I have had to say. From my perspective microcredit is a wonderful way to mitigate to some modest extent the terrible impact of poverty, but microcredit (microfinance, microinsurance, financial inclusion and all the rest) are merely initiatives that make poverty a little lest difficult. 

Meaningful development means making investment in initiatives that will improve the productivity of the economy in a significant way. This is what capital markets and institutions like the World Bank should have accomplished, but they have disbursed mightily and achieve relatively little. The dysfunction of the modern global economic system is deep, but ignored by most everyone. 

I was a very effective management accountant (and eventually CFO) many years ago because I was good at the analysis of operations and understood what delivered results. We can do this for society as well as we can do this for the corporate organization, but it needs radical reform of the metrics being used. This is what I am doing with TrueValueMetrics and Multi Dimension Impact Accounting (MDIA). When we change the way we score the game, we will change the way we play the game. 

Peter Burgess - TrueValueMetrics
Multi Dimension Impact Accounting


____________
Peter Burgess
TrueValueMetrics ... Meaningful Metrics for a Smart Society
Multi Dimension Impact Accounting
twitter: @truevaluemetric @peterbnyc 
mobile: 212 744 6469 landline 570 431 4385
email: peterbnyc@gmail.com
skype: peterburgessnyc


On Tue, Nov 19, 2013 at 4:08 PM, milford bateman <milfordbateman@yahoo.com> wrote:
 

 
Some of you might be interested in my invited piece for The Guardian looking at the disaster in South Africa that is microcredit and the cautionary tale of blindly pursuing 'financial inclusion'.  The bulk of the current damage is NOT being inflicted by payday lenders, as some analysts mistakenly continue to suggest (though Wonga and others are operating in SA and making things worse), but by the mainstream banks that jumped into unsecured lending with the fullest possible support of the international donor community because their move was promoting the all-important mantra of 'financial inclusion'.
Milford Bateman
 


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[MFP] Re: Microcredit disaster in South Africa

 

 
Some of you might be interested in my invited piece for The Guardian looking at the disaster in South Africa that is microcredit and the cautionary tale of blindly pursuing 'financial inclusion'.  The bulk of the current damage is NOT being inflicted by payday lenders, as some analysts mistakenly continue to suggest (though Wonga and others are operating in SA and making things worse), but by the mainstream banks that jumped into unsecured lending with the fullest possible support of the international donor community because their move was promoting the all-important mantra of 'financial inclusion'.
Milford Bateman
 

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Thursday, November 14, 2013

[MFP] EDM Financial Education edition is online now

 

Dear All

 

The September edition of Enterprise Development and Microfinance in now online at http://practicalaction.metapress.com/content/122762/?p=fb019911a5d14b9c9fe48e288b0b871b&pi=0.

 

It deals with the theme of Financial education (see contents list below). Financial education enables people to find and understand financial products that suit their needs – and become savvy consumers, aware of their rights. Read about some financial education initiatives in this issue.

 

If you would like to order a single copy (cost £30.00) then please email publishinginfo@practicalaction.org.uk; if you are interested in reading this edition online or subscribing you can visit our website (http://practicalactionpublishing.org/enterprisedevelopmentandmicrofinance) and follow the links.

 

Kind regards

 

Clare Tawney

Managing Editor

Enterprise Development and Microfinance journal

Practical Action Publishing (formerly ITDG Publishing)

The Schumacher Centre for Technology and Development,

Bourton on Dunsmore, Rugby, Warwickshire, CV23 9QZ, UK.

Tel: +44 (0)1926 634501       Home office:  +44 (0)1722 414855

http://practicalactionpublishing.org/enterprisedevelopmentandmicrofinance

 

Contents

VOLUME 24 NUMBER 3 SEPTEMBER 2013

 

Editorial: Broadening the financial literacy agenda

MONIQUE COHEN

 

Crossfire: ‘Building financial capabilities should be product-linked and not focused on personal money management’

KATHLEEN STACK and JENNEFER SEBSTAD

 

Developing national financial education strategies: perspectives and experiences

LEMMY MANJE, JULIET MUNRO and SHAUN MUNDY

 

Developing the next generation of economic citizens: financial inclusion and education for children and youth

JEROO BILLIMORIA, JARED PENNER and FLOOR KNOOTE

 

Driving adoption of branchless banking: insights from consumer education in India, the Philippines, and Zambia

JULIE LEE and MARÍA JARAMILLO

 

General articles

SENDFiNGO: an innovative model of financial inclusion in Ghana

BARCLAY O’BRIEN and HABIB HARUNA

 

The sustainability of MFIs in Uganda: the need for consumer protection while balancing stakeholders’ interests

FLAVIAN ZEIJA

 

Reviews

Performance Management: A Handbook for Small Business Banks and Microfinance Institutions by Prinny Anderson

CLIFTON G. KELLOGG

The Microfinance Impact, by Ranjula Bali Swain

SMITA PREMCHANDER

 

 

 

 

Practical Action Publishing Limited
The Schumacher Centre for Technology and Development
Bourton on Dunsmore
Rugby
CV23 9QZ
Tel: +44 - 01926 634501
Fax: +44 - 01926 634502
www.practicalactionpublishing.org

Practical Action Publishing is the trading name of Practical Action Publishing Ltd.
Company Reg. No 1159018, England

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