Friday, October 30, 2015

[MFP] Islamic Social Finance Report 2015 Launched

 

Dear All.

I am happy to inform you that the 2015 issue of the Islamic Social Finance Report has been launched at an International Workshop on Zakat Management organized by SANZAF at Pretoria, South Africa on October 26, 2015. This issue focuses on the zakat, awqaf and Islamic microfinance sectors in six countries in the sub-Saharan Africa – Sudan, Nigeria, Kenya, Mauritius, South Africa and Tanzania. This is in continuation of the 2014 issue of ISFR focusing on six countries in South and South East Asia.
The Report has been prepared by IRTI economist Dr Mohammed Obaidullah with additional contribution from Dr Nasim Shah Shirazi and scholars and practitioners from Sudan, Nigeria, Mauritius and South Africa.
You may visit my blogsite http://www.sadaqa.in for an online version of the Report.
Best wishes

Mohammed Obaidullah, PhD
Senior Economist
Islamic Research and Training Institute
Member of Islamic Development Bank Group

 

 


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Tuesday, October 27, 2015

[MFP] ASKI First MFI in Philippines to be Smart-Certified

 

Colleagues,

 

The Smart Campaign today recognized Alalay Sa Kaunlaran – ASKI – as the first financial institution in the Philippines to be certified by the Smart Campaign.  Ms. Pia Roman of Bangko Sentral ng Pilipinas (BSP) presented the Smart Certification certificate to ASKI at an event held in conjunction with the Asia-Pacific Financial Inclusion Summit 2015 in Manila.  Read more here.

 

Regards,

Bruce

 

 

Bruce J. MacDonald | VP, Communications & Operations | Center for Financial Inclusion at Accion | 10 Fawcett Street, Suite 204, Cambridge, MA 02138 USA

Tel +1 617.625.7080, x.1245 | Fax +1 617.625.7020 | bmacdonald@accion.org | www.centerforfinancialinclusion.org | skype: bruce.j.macdonald

 

Investing in individuals. Improving our world.

 

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Friday, October 16, 2015

Re: [MFP] Who is offering digital financial services in India?

 

Thank you Anand, I hope this helps Sabina in her enquiry. I guess it will be quite a while before people in India (or in the UK for that matter) start genuinely to use their mobile phones as a real wallet, with no need to go anywhere. Some years ago a taxi driver in Nairobi asked me to pay him by Mpesa from my phone to his, and was surprised when I said I couldn't and tendered old fashioned cash money instead, but maybe he was exceptional.
 
Malcolm
 
Sent: Friday, October 16, 2015 8:48 AM
Subject: Re: [MFP] Who is offering digital financial services in India?
 
 

Dear Malcom,
 
Yes. The Sub-K offers these services in India for banks. They have reached many customers and are also facilitating the No Frill Account opening of the customers. They also have set up the transaction point at the rural area/villages where the customer finds it easy to transact in their bank account.
 
It operates on Wallet basis for the transaction point. while the accounts of customers gets updated from various transaction points at regular interval during the day. the deposit and withdrawal facility is available for customers at these transaction point/s.
 
The Sub-K and banks find it difficult to justify on commercials as the no of transactions and the balances maintained in these accounts does not make enough commercial sense for the bank. While on other side, the Sub-K finds commercially tough to provide the services, maintain transaction point viability, move away from support cost (much needed) and to position this as a viable business engagement for the village level (BC point)
 
Many BC points did express their inability to provide services on account of following:
1. Initial investment by them for Handhelds and wallet money
2. Commissions are based on no of transactions and they do not move on field as they are located in a place where max footfall is expected.
3. Difficult to maintain wallet and cash at counters.
4. Very low transactions as village economy is still cash economy.
 
Anand Naik
 
 
 
 
Anand Naik
 


On Saturday, 10 October 2015 10:58 AM, "Sabina Rogers rogers@microcreditsummit.org [MicrofinancePractice]" <MicrofinancePractice@yahoogroups.com> wrote:


 
Good evening!
I am conducting a very unscientific poll, trying to figure out how many (and which) MFIs in India are offering digital financial services. I'm talking mobile money: payments, ewallet, etc.
Thank you, everyone, in advance.
Best,
Sabina
 
Sabina ROGERS| Communications and Relationship Manager
MICROCREDIT SUMMIT CAMPAIGN | A Project of RESULTS Educational Fund
1101 15th Street NW | Suite 1200 | Washington, DC 20005
Ph : +1.202.637.9600 ext 128 | Fax: +1.202.466.1396 | Skype: jayaichyou | E: rogers@microcreditsummit.org
http://www.microcreditsummit.org/
Follow the Campaign on
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Re: [MFP] Who is offering digital financial services in India?

 

Dear Malcom,

Yes. The Sub-K offers these services in India for banks. They have reached many customers and are also facilitating the No Frill Account opening of the customers. They also have set up the transaction point at the rural area/villages where the customer finds it easy to transact in their bank account.

It operates on Wallet basis for the transaction point. while the accounts of customers gets updated from various transaction points at regular interval during the day. the deposit and withdrawal facility is available for customers at these transaction point/s.

The Sub-K and banks find it difficult to justify on commercials as the no of transactions and the balances maintained in these accounts does not make enough commercial sense for the bank. While on other side, the Sub-K finds commercially tough to provide the services, maintain transaction point viability, move away from support cost (much needed) and to position this as a viable business engagement for the village level (BC point) 

Many BC points did express their inability to provide services on account of following:
1. Initial investment by them for Handhelds and wallet money
2. Commissions are based on no of transactions and they do not move on field as they are located in a place where max footfall is expected.
3. Difficult to maintain wallet and cash at counters.
4. Very low transactions as village economy is still cash economy.

Anand Naik




Anand Naik



On Saturday, 10 October 2015 10:58 AM, "Sabina Rogers rogers@microcreditsummit.org [MicrofinancePractice]" <MicrofinancePractice@yahoogroups.com> wrote:


 
Good evening!
I am conducting a very unscientific poll, trying to figure out how many (and which) MFIs in India are offering digital financial services. I'm talking mobile money: payments, ewallet, etc.
Thank you, everyone, in advance.
Best,
Sabina
 
Sabina ROGERS| Communications and Relationship Manager
MICROCREDIT SUMMIT CAMPAIGN | A Project of RESULTS Educational Fund
1101 15th Street NW | Suite 1200 | Washington, DC 20005 
Ph : +1.202.637.9600 ext 128 | Fax: +1.202.466.1396 | Skype: jayaichyou | E: rogers@microcreditsummit.org
http://www.microcreditsummit.org/
Follow the Campaign on
Twitter | Facebook | LinkedIn | YouTube | Campaign Blog
 


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Tuesday, October 13, 2015

[MFP] Re: Who is offering digital financial services in India?

 

Thank you, Lisa and Ragini.

 

Ragini, I am definitely defining DFS as mobile payments, transfers, savings, etc. as well as ewallets. Not using digital technology to conduct field operations (“digital field applications” like those described in this report from Accion).

 

Sabina ROGERS| Communications and Relationship Manager

MICROCREDIT SUMMIT CAMPAIGN | A Project of RESULTS Educational Fund

1101 15th Street NW | Suite 1200 | Washington, DC 20005 

Ph : +1.202.637.9600 ext 128 | Fax: +1.202.466.1396 | Skype: jayaichyou | E: rogers@microcreditsummit.org

http://www.microcreditsummit.org/

Follow the Campaign on

Twitter | Facebook | LinkedIn | YouTube | Campaign Blog

 

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Monday, October 12, 2015

Re: [MFP] Who is offering digital financial services in India?

 

Hi Sabina
MFIs do not usually provide digital financial services but use mobile technology to improve operating efficiencies. 
Usually it prepaid card issuers who provide mobile wallets and there are several such companies. These services are not only targetted towards low income households. 
Business correspondents of banks also use various digital mechanisms to provide combination of services usually savings and remittences.
MFIs acting as banking correspondent provide credit though not digitally.
It would help to define define digital financial services and then find service providers in India. 
Hope this helps
Thanks
Ragini

Sent from my iPhone 6

On Oct 10, 2015, at 4:32 AM, Sabina Rogers rogers@microcreditsummit.org [MicrofinancePractice] <MicrofinancePractice@yahoogroups.com> wrote:

 

Good evening!

I am conducting a very unscientific poll, trying to figure out how many (and which) MFIs in India are offering digital financial services. I'm talking mobile money: payments, ewallet, etc.

Thank you, everyone, in advance.

Best,

Sabina

 

Sabina ROGERS| Communications and Relationship Manager

MICROCREDIT SUMMIT CAMPAIGN | A Project of RESULTS Educational Fund

1101 15th Street NW | Suite 1200 | Washington, DC 20005 

Ph : +1.202.637.9600 ext 128 | Fax: +1.202.466.1396 | Skype: jayaichyou | E: rogers@microcreditsummit.org

http://www.microcreditsummit.org/

Follow the Campaign on

Twitter | Facebook | LinkedIn | YouTube | Campaign Blog

 

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Re: [MFP] Re: Who is offering digital financial services in India?

 

Hi Sabina,

Have you also considered posting your query on the Solution Exchange (http://www.in.undp.org/content/india/en/home/ourwork/povertyreduction/microfinance-community--solution-exchange-india.html)? This would seem like a perfect query for their forum (or they may already have a report you can use).

I imagine that Sa-Dhan would also have relevant inputs.

Best regards,
Lisa

Sent from my iPhone

On Oct 12, 2015, at 12:01 PM, Sabina Rogers rogers@microcreditsummit.org [MicrofinancePractice] <MicrofinancePractice@yahoogroups.com> wrote:

 

Thank you, Malcom and Jami. This is a very helpful start. I will be sure to report back out to you all what I find.

 

Sabina ROGERS| Communications and Relationship Manager

MICROCREDIT SUMMIT CAMPAIGN | A Project of RESULTS Educational Fund

1101 15th Street NW | Suite 1200 | Washington, DC 20005 

Ph : +1.202.637.9600 ext 128 | Fax: +1.202.466.1396 | Skype: jayaichyou | E: rogers@microcreditsummit.org

http://www.microcreditsummit.org/

Follow the Campaign on

Twitter | Facebook | LinkedIn | YouTube | Campaign Blog

 

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[MFP] Re: Who is offering digital financial services in India?

 

Thank you, Malcom and Jami. This is a very helpful start. I will be sure to report back out to you all what I find.

 

Sabina ROGERS| Communications and Relationship Manager

MICROCREDIT SUMMIT CAMPAIGN | A Project of RESULTS Educational Fund

1101 15th Street NW | Suite 1200 | Washington, DC 20005 

Ph : +1.202.637.9600 ext 128 | Fax: +1.202.466.1396 | Skype: jayaichyou | E: rogers@microcreditsummit.org

http://www.microcreditsummit.org/

Follow the Campaign on

Twitter | Facebook | LinkedIn | YouTube | Campaign Blog

 

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Saturday, October 10, 2015

Re: [MFP] Who is offering digital financial services in India?

 


On Sat, Oct 10, 2015 at 12:59 PM, 'Malcolm Harper' malcolm.harper@btinternet.com [MicrofinancePractice] <MicrofinancePractice@yahoogroups.com> wrote:
 

Thank you Sabina (if I may). That's a very good question, and I hope that you will also get an idea of what services are being offered, as well as by whom, and that you will share the results; never mind the 'unscientific', the best must never be the enemy of the good.
 
I know that Basix Sub-K, a member of the Basix Group, is doing a lot of work with mobile technology for agents and banking correspondents, but I don't know the extent to which this reaches the actual customer, so that she or he can save, borrow, repay or transmit money over the phone.  It is often said that the regulations of the Reserve Bank of India are the main constraint, but I'd love to know the extent to which that is true.
 
Good luck !
 
Malcolm Harper
 
Sent: Saturday, October 10, 2015 12:02 AM
Subject: [MFP] Who is offering digital financial services in India?
 
 

Good evening!

I am conducting a very unscientific poll, trying to figure out how many (and which) MFIs in India are offering digital financial services. I'm talking mobile money: payments, ewallet, etc.

Thank you, everyone, in advance.

Best,

Sabina

Sabina ROGERS| Communications and Relationship Manager

MICROCREDIT SUMMIT CAMPAIGN | A Project of RESULTS Educational Fund

1101 15th Street NW | Suite 1200 | Washington, DC 20005

Ph : +1.202.637.9600 ext 128 | Fax: +1.202.466.1396 | Skype: jayaichyou | E: rogers@microcreditsummit.org

http://www.microcreditsummit.org/

Follow the Campaign on

Twitter | Facebook | LinkedIn | YouTube | Campaign Blog


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