Qalaa Holdings, an African leader in energy and infrastructure, said one of its business units, Finance Unlimited, has decided to sell off its entire holding in Egypt-based Tanmeyah Microenterprise Services to EFG Hermes for E£450 million
External risks, security concerns and over-indebtedness have been perceived as the most serious challenges facing the microfinance sector in the Arab world, according to a new study from IFC, a member of the World Bank Group.
Qalaa Holdings, an African leader in infrastructure and industry, has appointed CI Capital to study strategic options for the full exit of Tanmeyah for Microfinance Services, a non-core subsidiary in which Qalaa holds a 70 per cent stake.
Bahrain’s labour fund Tamkeen and Islamic micro-finance bank Family Bank have signed an agreement to add BD2 million ($5.3 million) to the microfinance support scheme, bringing the programme’s total portfolio value to BD 5 million ($
Egypt has issued the country's first law regulating microfinance services, the Egyptian Supervisory Authority said late on Thursday.
The law regulates microfinance funding by non-bank sources including companies and non-govern
Doha-based social initiative Silatech has signed a deal with Kaaba Microfinance Institution (K-MFI) in Somaliland to promote youth enterprise and employment solutions.
The memorandum of understanding paves the way for the two orga
The Central Bank of Bahrain (CBB) has released a new set of rules specifically tailored for microfinance institutions.
The rules for microfinance institutions are part of the Volume 5 of the CBB Rulebook, developed specific
Islamic finance volumes will pass through $2 trillion where Islamic banking keeps 78 per cent, sukuk 16 per cent, takaful 1 per cent, Islamic funds 4 per cent and Islamic microfinance 1 per cent share, said an industry expert.
Islamic microfinance is an effective tool for poverty alleviation and it should be introduced around the globe, according to Bahrain's Social Development Minister Dr Fatima Al Balooshi.
Dr Al Balooshi made the comments while a
HSBC Bank Middle East has joined a region-wide volunteer initiative developed by Grameen-Jameel Microfinance (Grameen-Jameel) to support the growth of microfinance among the underprivileged.
HSBC has signed an MOU with Grameen-Jameel to vo