Friday, October 31, 2014

[MFP] new study on over indebtedness in 6 European countries which received bailouts

 

Dear Group,

Thought some of you might need some reading material for long journeys.  

It is quite long, and I am only as far as the analysis of Greece, but so far it is quite interesting and confirms that it is quite difficult and sometimes impossible for insolvent consumers to get a 'bailout.'  

In Greece, as in many countries, filing fees exist for a bankruptcy and many cannot afford this.  Additionally, I read elsewhere that if you owe more than 5.000 euro to the Govt. of Greece for unpaid taxes, that you can be incarcerated.  

Here's the article:

http://cadmus.eui.eu/bitstream/handle/1814/32451/LAW%20WP%202014_DOM.pdf?sequence=1

Happy Halloween!

Jami

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Thursday, October 30, 2014

[MFP] FW: Launching of the 2014 Microfinance Barometer

 

This might be of interest.

 

We as a sector still continue to confuse the language. Is micro credit equal to micro-finance? If financial inclusion and microfinance same? is MFI equal to Microfinance? If bank offers financial services to poor, is that or is that not microfinance? Did microfinance really start 40 years back with small loans to a few poor women?  Is small savings groups microfinance, or financial inclusion? Where does insurance, payment transfers, housing finance, agri finance, pension, education loans fit in? and financial literacy?

 

It seems like Shiva's marriage party, or a little bit of this and a little bit of that in the stew. Never the less, interesting report.

 

Best,

 

Anuj

 

(with apologies for cross-posting)

 

From: Convergences [mailto:contacts=convergences.org@mail85.atl91.mcsv.net] On Behalf Of Convergences
Sent: Thursday, October 30, 2014 10:24 AM
To: Anuj Jain
Subject: Launching of the 2014 Microfinance Barometer

 

Latest news from Convergences and its partners towards the co-construction of a fair and sustainable world.

Open the newsletter

 

 

Launch of the 2014 Microfinance Barometer

 

For the fifth consecutive year, Convergences is publishing the Microfinance Barometer.

This year's edition is entitled "The future of microfinance: towards a new deal?" Researchers and experts of the sector share their insights on the evolution and prospects of microfinance, along with latest figures on the sector in France and across the world.
 

In partnership with Groupe Caisse des Dépôts, Fédération nationale des Caisses d'Epargne, the City of Paris, the European Microfinance Platform (e-MFP) and Oikocredit.

Discover the 2014 Microfinance Barometer online. If you would like to receive a hard copy of the BMF, please send an email to this address.


 

 

 

SoBizHub: Social Business in Northern France

 

 

The SoBizHub project was launched at the world forum Lille held from the 21st to the 24th of October.

Convergences is part of this innovative initiative. Its main goal is to promote the development of Social Business' projects in the Region of Nord-Pas de Calais, Northern France.

SoBizHub has 4 main objectives:

          -   Build awareness of Social Business and promote social innovation;

          -   Create a space for shared creation among actors without much experience working together;

          -   Develop a multidisciplinary academic curriculum;

           -  Encourage the launch of new projects.

 

 

European Microfinance Week

 

 

The European Microfinance Week is the major annual event of the microfinance industry hosting high level and in-depth discussions by all sectors of the European microfinance community working in developing countries.

It is organized by the European Microfinance Platform (e-MFP) and supported by the Luxembourg Government. Last year the event welcomed nearly 400 microfinance professionals from 59 countries.
 
This year, the microfinance week will take place in Luxembourg from November, 12th to November,14th and will focus on the them "Developing Better Markets". More information.

 

 

Releases

2014 Barometer of social entrepreneurship

Vision Convergences 2014
(in French)
 

2014 Microfinance Barometer

If you would like to receive a hard copy of our releases, please send an email to this address.

 

Agenda

The Social Impact Analysts Association's (SIAA) 2014 Annual Conference, Talking Data: Measurement with a message, will be held in Toronto, Canada, on November 3rd – 4th in partnership with Social Asset Measurements and Charity Intelligence Canada. More information.

From November 12th to November 14, Aidex, the international event for professionals in aid and development will take place in Bruxelles, Belgium. AidEx encompasses a conference, exhibition, meeting areas, awards and workshops. Its fundamental aim is to engage the sector at every level and provide a one stop shop for the visitor to meet, source, supply and learn. More information.

The Women's Private Equity Network Summit will take place on the 12th November in London. This summit is the first in a series of exclusive networking summits to be held around the world, and supports the development of the Women's Private Equity Network (WPEN), to be launched in Autumn 2014. More information.

 

 

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Friday, October 24, 2014

[MFP] Interesting idea from Chennai

 

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Posted by: Jami Solli <jamisolli@gmail.com>
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Tuesday, October 21, 2014

[MFP] Free event on Microinsurance in Washington, DC next Monday, Oct 27th.

 

Hello everyone,

The DC Microfinance Meetup will host an event next Monday Oct 27th with the microinsurance expert Jeanna Holtz (formerly from ILO's Microinsurance Facility). The event will be hosted in the center of Washington, DC - 1776 Startup Incubator. 

Come meet your fellow social impact and financial inclusion professionals, talk to the leaders in the community, and get a drink after work! Details and RSVP here. 

Best,

Vera


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Sunday, October 12, 2014

Re: [MFP] Fixing sustainable rate of interest

 

Dear Mingyee,

Many thanks for your inputs. These are quite helpful.

I wanted to learn about the factors prevalent in the field of operation of MFIs that could provide some (not ALL) explanation to differences in the interest charged by MFIs in different economies.

For example, should low cost of commercial borrowing in certain economies (say, in Europe) as compared to high cost of commercial borrowing in West Africa be a basis for low interest on microcredit in Europe? This is in context of the Wonga discussion amongst MFP group members.

Alternatively, should very high cost of operation in West Africa (where Opex ratio could be about 30% or more) be one of the justifications for charging high interest from the microcredit clients in that part of the world?

I am trying to understand how the interest rate modelling works in different economies and your views throw more light on factors that need to be taken into account in the modelling process.

Best regards,
Kamakhya
---------------------------------------
http://ng.linkedin.com/in/kamakhyasingh/

From: "Hsu Ming-Yee mingyee0706@yahoo.fr [MicrofinancePractice]" <MicrofinancePractice@yahoogroups.com>
To: "MicrofinancePractice@yahoogroups.com" <MicrofinancePractice@yahoogroups.com>
Sent: Monday, 6 October 2014 7:48 PM
Subject: Re: [MFP] Fixing sustainable rate of interest

 
Dear Kamakhya,

I can contribute some inputs to your first question. I have worked at a Cambodian MFI for three years. This MFI uses a variation of the formula you have mentioned as a kind of starting point, but then adds two other aspects to arrive at concrete interest rates charged to the clients:

a) Client riskiness: the interest rate varies within a certain range. The lower the estimated risk of the loan, the lower the rate; the higher the estimated risk, the higher the rate, up to a certain risk threshold, beyond which the loan is no longer granted. 

b) Competition: The interest rates arrived at internally are compared to market interest rates for a reality check. If they are markedly higher than what other MFIs charge, they are adjusted downwards.

Other aspects besides the above can be taken into account too:
c) Loan term: the longer the term, the higher the risk and the higher the interest rate should be.

d) Specific discount rate for loan product deemed particularly worthy by the MFI, for example for the purchase of environmentally-friendly products, for lending to particularly poor regions, etc.

I hope the above helps. Best regards,

Mingyee  

From: "'Kamakhya Nr. Singh' kamy2n@yahoo.com [MicrofinancePractice]" <MicrofinancePractice@yahoogroups.com>
To: "MicrofinancePractice@yahoogroups.com" <MicrofinancePractice@yahoogroups.com>
Sent: Sunday, October 5, 2014 1:58 AM
Subject: [MFP] Fixing sustainable rate of interest

 
Dear Microfinance practitioners and experts,

I wanted to have your opinions/views on the following:

1. Do MFIs take decision on fixing rate of interest on loans by using models like that of CGAP, which uses administrative expenses (AE), loan losses (LL), the cost of funds (CF), the desired capitalization rate (K), and investment income (II) in real world? As most of the practitioners would be aware, CGAP model states that sustainable rate of interest (R) can be calculated by using the formula indicated here:
 
            AE + LL + CF + K - II
R=-------------------------------------
               1 – LL
 
2. Are there empirical studies on use of CGAP's kinds of models in fixing rates of interest charged to the microfinance clients?
 
3. Do the huge differences in the above factors such as AE, CF, LL in different economies explain the difference in rate of interest charged in those economies?

It would be great to hear from you all.

Best regards,
KNS




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Friday, October 10, 2014

Re: [MFP] Formalization of informal businesses

 

Craig and Friends,
 
Another approach from informal to formal is to build on traditional savings clubs that abound throughout the world and with a little external training improve transparency, increase savings and orient lending to business purposes. Savings groups - now with 10 million members in an estimated 125,000 villages in 65 countries worldwide - have proved to be simple virally self-replicating means of at least making a start that can be serve as a platform for business education and financial literacy to get the process underway. This is not the only approach but is may be the simplest, least expensive and most easily scalable.
 
See intheirownhands.com and savings-revolution.org.
 
Jeff
 
Jeffrey Ashe
jaashe@aol.com
 
 
-----Original Message-----
From: 'Churchill, Craig' churchill@ilo.org [MicrofinancePractice]
[MicrofinancePractice] <MicrofinancePractice@yahoogroups.com>
To: MicrofinancePractice <MicrofinancePractice@yahoogroups.com>
Sent: Fri, Oct 10, 2014 10:37 am
Subject: RE: [MFP] Formalization of informal businesses

 
Many thanks Malcom and JD for your suggestions. If anyone else has some suggestions, I am interested in additional ones as well.
 
Anuj, to answer your question, indeed informality remains an ongoing challenge. I think that the typical means to tackle this challenge, by designing and implementing business regulations, needs to be supplemented with compliance incentives…and this is where I think financial insitutions can play role.
cheers,
Craig
 
From: MicrofinancePractice@yahoogroups.com [mailto:MicrofinancePractice@yahoogroups.com]
Sent: 09 October 2014 20:01
To: MicrofinancePractice@yahoogroups.com
Subject: Re: [MFP] Formalization of informal businesses
 
 
The latest issue of 'Enterprise Development and Microfinance' (the bright red journal that used to be called 'Small Enterprise Development' and maybe should be again), September 2014, volume 25 number 3, focuses on SME lending and includes several papers that relate to your question.
 
Malcolm
 
Sent: Wednesday, October 08, 2014 1:08 PM
Subject: [MFP] Formalization of informal businesses
 
 
Dear all
I am looking for example of financial institutions that use their relationships with micro and small businesses to encouage those enterprises to formalize, to become registered, meet safety and health requirements, and perhaps even pay taxes. I know that ABA in Egypt does that, requiring a greater degree of formalization as businesses want to access larger loans. I would be keen to learn more about any other examples.
Many thanks,
Craig
 
Craig Churchill
Chief, Social Finance Programme
International Labour Organization
Route des Morillons 4, Geneva
Switzerland CH-1211
Tel +41 22 799 6242
Email churchill@ilo.org
Website: www.ilo.org/socialfinance
 
For details about the Microinsurance Innovation Facility see www.ilo.org/microinsurance
 
For information about the Microinsurance Network, see www.microinsurancenetwork.org
 
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