Showing posts with label micro finance. Show all posts

Microfinance in Syria

Posted on Thursday, 10 January 2013 by Anonymous Leave a comment

Microfinance in Syria still at the stage of evolution and to engage in a market where no more than 10 years old which is in its infancy and did not reach the stage of maturity yet.

The sources indicated that the coverage of microfinance to the need of the market amounted to 9% as indicated by a study before the start of the crisis and indicated a strong need in the Syrian market for this type of financing is estimated at about 91% at least, and therefore constitute an attraction important for many institutions working in this area .

The sources revealed, according to the "homeland" local, that many of the new institutions have taken more than a step to enter this promising market and obtained the necessary approval from the "central bank" but under the current circumstances froze the rest of the steps.

It also pointed out that the coverage of microfinance to the need of the market fell as clearly below the level of 9%, but this did not prevent the renewal of some of the old loans to customers who have committed themselves to paying in accordance with the deadlines associated with this type of small loan.

Attributed the shrinking small loans for two reasons: The first is the non-renewal of each building on the desire of the customer to its inability to meet the terms of the loan and the second is linked to the inability of some institutions to refinance the same volume of customers in the light of the prevailing economic conditions and the high degree of risk.

The sources ruled out the possibility of exit of any of the four institutions working in the field of microfinance market, especially the market is still virgin and the interest of these institutions to maintain itself in the market, which will have a big advantage when you return to stability and the economic wheel to normal.

She explained that in spite of the fact that microfinance in syria semi-frozen but adapted primarily in natural working conditions to work in difficult conditions to qualify to take the role in the return of relative stability to the economy.

AGFUND poses mechanisms of microfinance a funky alternative to the fight against hunger in the world

by Anonymous Leave a comment

Confirmed the Arab Gulf Program for Development "AGFUND" headed by Prince Talal bin Abdul Aziz, his commitment to the fight against hunger in the world through the mechanisms of microfinance and poverty reduction, and improve the conditions of needy segments.

AGFUND supports development strategy is based on three axes: finance projects around the world without discrimination, and building projects for the benefit of those in need, such as banks for the poor, and development partnerships.

In the context of the third track, which means "partnerships" Search AGFUND promote development of relations with the World Food Programme of the United Nations, during a meeting held yesterday at the headquarters of AGFUND in Riyadh.

The Executive Director of AGFUND Nasser bin Bakr Al-Qahtani said the two sides discussed visions serve the fight against hunger in unconventional ways, stressing the readiness of AGFUND to contribute to the financing of projects aimed to fight hunger through alternatives to traditional developed, which mechanisms of microfinance, and banks poverty founded by AGFUND and deployed in the region .

The long cooperation between AGFUND and United Nations organizations makes the common language between them and clear, which helps to achieve common goals in the time frame and in a timely manner for the target segments.

The meeting was attended by AGFUND Executive Director of AGFUND Nasser bin Bakr Al-Qahtani, Director of Project Management Jibreen Jibreen, and the Secretary General of the AGFUND Prize Media Director Abdul Latif Alazaviha, and was attended by the World Food Programme Executive Director Catherine Cazin and the Deputy Executive Director Chief Operating Prince Abdullah, the Assistant Director Executive Romer Lopez, and Permanent Representative of the Kingdom to the Food and Agriculture Organization of the United Nations in Rome Bandar bin Abdulmohsen Al-Shalhoub, WFP Regional Director Mohamed Diab, Donor Relations Officer World Jewels Atef Programme.

Microfinance Mechanism

Posted on Monday, 18 June 2012 by Rachid AJMAL Leave a comment

The Arab Gulf for Development Program "AGFUND" and the OPEC Fund for International Development "OFID" was organized an international symposium, entitled "The role of donors in meeting the basic needs of the poor (education, health, energy, housing, agriculture) through the mechanism of microfinance" ; Which was held in the Austrian capital, Vienna, headquarters of the "OFID", 5 June 6, 2012. The main objectives of the workshop focused on: the definition of effective role for the use of microfinance mechanism to meet the basic needs for the life of a large segment of the poor in developing societies.

The workshop reviewed the benefits of linking the provision of financial services in the microfinance industry of non-financial services in the sectors of health, education, energy, agriculture and housing. Addressing the seminar, Prince Talal bin Abdul Aziz, President of AGFUND, and displays the vision program for the development of Arab Gulf in the recruitment of microfinance to fight poverty, and the positive results achieved by the project "AGFUND" to establish banks for the poor in the region. Was to provide models of successful experiences in the application of international microfinance.

It is noteworthy that the most important challenges facing the microfinance industry and hinder their growth is the presence of a large financing gap in the industry between demand and supply for microfinance services, as they limit the expansion and the spread of existing institutions aiming to provide services to the poor in an effective manner to narrow this funding gap initiated "AGFUND" launch a fund to provide "financing facility" for microfinance banks founded by a number of Arab and African countries, and for other MFIs in the Arab region.

Such an initiative of the International Symposium to encourage donors and financial institutions to open the windows to support the MFIs operating in developing communities to reduce poverty rates. And broke up a seminar to develop new mechanisms for definition by the microfinance sector and its future, and develop its role in reducing poverty, combating unemployment. Has also been monitoring the number of experiences and successful applications in the delivery of microfinance services integrated. It will AGFUND and OFID on the dissemination of these applications for the benefit of MFIs.

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Sanabel Microfinance Conference

Posted on Tuesday, 25 May 2010 by Rachid AJMAL Leave a comment

The Microfinance Network of Arab Countries "Sanabel" organize the Seventh Annual Microfinance Conference, in June 1st - 3rd, 2010 at the Convention Palace in Damascus, Syria.
The theme of this year’s conference will be “Responsible Growth: Learning from Global Trends and Regional Experiences”.

Over the course of three days, more than five hundred participants will have the opportunity to learn from expert panelists and share individual experiences through sessions, mini-trainings, and workshops designed under four different tracks; namely, “Responsible Finance”, “Investment Readiness”, “Increasing Outreach while Maintaining Quality” and “Enabling Policies and Regulation”.

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PlaNet Finance Launched a project for renewable energy

Posted on Monday, 3 May 2010 by Rachid AJMAL 2 Comments

PlaNet Finance

PlaNet Finance and its partners are launching with the support of the European Union and the SGP's Fund for World Environment UNDP Morocco, FREEME project to promote energy efficiency and renewable energy in Morocco and Egypt through microfinance.

The program FREEME (Promotion of Renewable Energy and Energy Efficiency in Morocco and Egypt) aims to support the development, access and sustainable use of renewable energy and energy efficiency services through the Microfinance in the two countries.

The project should benefit FREEME 4800 people in both countries and raise awareness about 2,400 microentrepreneurs and low income households.

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The concept of Microfinance

Posted on Thursday, 15 October 2009 by Anonymous Leave a comment

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Microfinance is new way to alleviate poverty

Micro credits (Micro-loans) are generally one of the financial innovations that have arisen with the Grameen Bank in Bangladesh, microfinance is to expand the scope of very small loans, and aims to stimulate entrepreneurship among those who suffer from poverty to self-employment and develop their small businesses, to alleviate poverty and improve their status and social and thus improve the status of their families and their children in terms of standard of living on the one hand, and level of access to social services (such as health, education, ...) on the other.

By Rachid AJMAL

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