Tuesday 3 May 2016
 
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Microfinance

Qalaa sells key stake in Egypt microfinance company

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

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Microfinance challenges in Arab world in focus

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. &nbs

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Qalaa appoints advisor to study Tanmeyah exit

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.

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Tamkeen, Family Bank raise microfinance portfolio to $13.2m

Bahrain’s labour fund Tamkeen and Islamic micro-finance bank Family Bank have signed an agreement to add BD2 million ($5.3 million) to the microfinance support scheme, bringing the programme’s total portfolio value to BD 5 million ($

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Egypt issues first microfinance law

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

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Silatech, Kaaba to support Somali youth enterprises

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

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CBB unveils new rules for microfinance firms

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

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Islamic finance ‘to top $2 trillion in 2014’

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. &qu

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New push to promote Islamic microfinance

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

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HSBC, Grameen-Jameel in microfinance drive

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

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