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PAYMENT SYSTEMS ANDREMITTANCES
Global Payments Week 2010. Thebiannual event organized by the WorldBank. Amsterdam, The Netherlands.October 19-22, 2010. (more on page 5)
NONBANK FINANCIAL INSTITUTIONS(LEASING, HOUSING FINANCEINSURANCE)
Insurance in Developing Countries:Exploring Opportunities in Micro-insurance. The potential market forinsurance in developing countries isestimated to be between 1.5 and 3bn
policies ... (more on page 9)
CREDIT REPORTING & COLLATERALREGISTRIES
Vietnams First Credit Bureau (PCB)Launches. The bureau is expected tosupply highly credible creditinformation about individuals andorganizations (more on page 11)
Jordan, IFC Sign Accord to Set Up FirstMovable Asset Registry.Jordan and theInternational Finance Corporation(IFC), a member of the World BankGroup ...(more on page 12)
INCLUSIVE FINANCIAL SYSTEMS
Financial Access 2010: The State ofFinancial Inclusion Through TheCrisis.Financial Access 2010 extends to142 countries ... (more on page 14)
RATIONALE
Leasing provides a means to deliver increased domestic investment within economies.
By developing additional financial tools such as leasing or mortgages, countries are able
to deepen the activities of their financial sector by introducing new products and/or
industry players.
Although leasing is used as a means of asset financing by all business types for assets
worth tens of dollars to tens of millions of dollars, its key benefit is the access it provides
those without a significant asset base: leasing enables small enterprises to leverage an
initial cash deposit, with the inherent value of the asset being purchased acting ascollateral. These small businesses do not have other assets that could serve as collateral for
loans or other types of secured lending within countries where unsecured lending is not
an option. Developing leasing allows smaller scale entrepreneurs to become more
economically active by enabling access to finance and, subsequently, access to income-
producing assets. Also, leasing offers an important advantage in countries with weak
business environments, particularly those with weak creditors rights and collateral laws
and registries, such as countries where secured lenders do not have priority in the case of
default.
As a result, leasing is sometimes the only financial tool available to provide small and
medium enterprises (SMEs) with medium term finance to support investments in
productive and logistic assets. A dynamic leasing sector can greatly benefit the economy
of a country as it creates access to finance that, in turn, can create employmentopportunities.
Leasing also plays a critical role in bringing small businesses into the formal financial
system. As informal businesses have access to lease financing, they start building a history
of financial transactions. When the appropriate credit information-sharing infrastructure
is in place, banks and other financial institutions can access these records, better manage
risks, and start providing more comprehensive financial services to these small
businesses. With this new opportunity, small businesses find a new incentive to join the
formal sector.
Emerging economies almost always have an undercapitalized banking system that can
only offer its potential clients a limited range of products. For their part, the SMEs in
emerging economies possess insufficient collateral or credit history to access more
traditional bank finance. This results in a shortage of available credit to domesticentrepreneurs. Developing the leasing sector as a means of delivering finance increases
the range of financial products in the marketplace and provides a route for accessing
finance for businesses that would otherwise not have it, thus promoting domestic
production, economic growth and job creation.
(more on page 2)
This article was culled from a World Leasing Yearbook 2010 article by Minerva Kotei andAry Nam.
Creating Value with Leasing in Emerging
MarketsBy Minerva Kotei, Global Product Leader, IFC Access to Finance Advisory
AccessFinanceis published by theFinancial & Private Sector DevelopmentVice Presidency of the World Bank Group
Editors: Bikki Randhawa, Leila Search
Layout/Production: Aichin Lim Jones
Editorial Committ ee: Massimo Cirasino,Maria Teresa Chimienti, ShaliniSankaranarayanan, Vijay Kalavakonda,Alejandro Alvarez de la Campa
For subscription, please visit us online atAccessFinance.
For comments/suggestions, please send [email protected].
SEPTEMBER 2010 | ISSUE No. 33A BI-MONTHLY NEWSLETTER WHICH DISSEMINATES INFORMATION ON IMPROVING ACCESS TO FINANCIAL SERVICES
http://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTFINANCIALSECTOR/0,,contentMDK:22706927~menuPK:6127452~pagePK:210058~piPK:210062~theSitePK:282885~isCURL:Y,00.htmlhttp://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTFINANCIALSECTOR/0,,contentMDK:22706927~menuPK:6127452~pagePK:210058~piPK:210062~theSitePK:282885~isCURL:Y,00.htmlhttp://microfinanceafrica.net/wp-content/uploads/2010/06/Insurance-In-Developing-Countries.pdfhttp://microfinanceafrica.net/wp-content/uploads/2010/06/Insurance-In-Developing-Countries.pdfhttp://microfinanceafrica.net/wp-content/uploads/2010/06/Insurance-In-Developing-Countries.pdfhttp://en.vietnamplus.vn/Home/Nations-first-private-credit-rating-agency-launches-in-Hanoi/20107/10729.vnplushttp://en.vietnamplus.vn/Home/Nations-first-private-credit-rating-agency-launches-in-Hanoi/20107/10729.vnplushttp://www.jordantimes.com/?news=29551http://www.jordantimes.com/?news=29551http://www.jordantimes.com/?news=29551http://www.cgap.org/gm/document-1.9.46570/FA_2010_Financial_Access_2010_Rev.pdfhttp://www.cgap.org/gm/document-1.9.46570/FA_2010_Financial_Access_2010_Rev.pdfhttp://www.cgap.org/gm/document-1.9.46570/FA_2010_Financial_Access_2010_Rev.pdfhttp://www.cgap.org/gm/document-1.9.46570/FA_2010_Financial_Access_2010_Rev.pdfhttp://newsletters.worldbank.org/external/default/main?menuPK=543561&pagePK=64133627&piPK=64133598&theSitePK=543555mailto:[email protected]:[email protected]://newsletters.worldbank.org/external/default/main?menuPK=543561&pagePK=64133627&piPK=64133598&theSitePK=543555http://www.cgap.org/gm/document-1.9.46570/FA_2010_Financial_Access_2010_Rev.pdfhttp://www.cgap.org/gm/document-1.9.46570/FA_2010_Financial_Access_2010_Rev.pdfhttp://www.cgap.org/gm/document-1.9.46570/FA_2010_Financial_Access_2010_Rev.pdfhttp://www.jordantimes.com/?news=29551http://www.jordantimes.com/?news=29551http://en.vietnamplus.vn/Home/Nations-first-private-credit-rating-agency-launches-in-Hanoi/20107/10729.vnplushttp://en.vietnamplus.vn/Home/Nations-first-private-credit-rating-agency-launches-in-Hanoi/20107/10729.vnplushttp://microfinanceafrica.net/wp-content/uploads/2010/06/Insurance-In-Developing-Countries.pdfhttp://microfinanceafrica.net/wp-content/uploads/2010/06/Insurance-In-Developing-Countries.pdfhttp://microfinanceafrica.net/wp-content/uploads/2010/06/Insurance-In-Developing-Countries.pdfhttp://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTFINANCIALSECTOR/0,,contentMDK:22706927~menuPK:6127452~pagePK:210058~piPK:210062~theSitePK:282885~isCURL:Y,00.html8/8/2019 AFNewsletter33 Sept2010 FINAL
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PAGE 2ACCESSFINANCE | SEPTEMBER 2010 | ISSUE No. 33
Many developing countries suffer from
weak or imperfect legal institutions.
Although in principle secured lending and
leasing should be roughly equivalent interms of risk, experience in many
jurisdictions has shown that legal ownership
is recognized by all participants, especially
courts, more readily and consistently than
secured lending. This can reduce the risk to
lenders (lessors) considerably. The value o
this advantage of leasing should not be
underestimated, particularly in more
challenging environments.
LEASE MARKET DEVELOPMENT
Creating a sustainable leasing industry in
developing countries requires investment
and technical know-how provided to policy-
makers, regulators and private-sector
players. To address this specific need, IFC
provides advisory programs that are co-
financed by multilateral and bilateral donors
to increase micro, small, and medium
enterprises (MSMEs) access to term
equipment financing and broaden local
financial markets. Direct advisory services
are provided to leasing clients in the areas of
operations, strategy, risk management and
governance as well as broad support to theleasing industry in developing countries,
addressing constraints through policy and
regulatory work, advocacy and awareness-
raising.
Many countries face structural obstacles
in developing a leasing industry: the absence
of clearly defined and predictable laws and
regulations governing leasing transactions,
unclear accounting standards, the lack of an
appropriate tax regime, impaired funding
abilities and/or the absence of an
appropriate regulatory and supervisory
framework. IFC has found that leasing
typically does not need to be granted any tax
or regulatory advantage to develop.
However, without specific texts and
regulations, leasing is at a disadvantage vis-
-vis loans that are better understood by the
judicial, financial and commercial system.
Therefore, the focus is to help governments
establish a level-playing field for leasing,
allowing increasing and fair competition
between loans and leases to the benefit of
SME clients and overall economic
development. In many cases, regulations
either did not exist, did not take intoaccount the specific characteristics of leasing
or their application and interpretation were
uncertain because of lack of precedent. More
and more governments have turned to IFC
for help in laying out the groundwork for
leasing development as they recognize these
weaknesses.
Building on fundamental support to the
industry, advisory work is now focused on
institution building activities to help set up
and expand strong leasing businesses and
thereby facilitate the development of astrong and sustainable leasing industry.
Advisory services are now targeted at leasing
bank and non-bank institutions in the areas
of governance, strategy, risk management
and operations.
IFCs most pivotal role in leasinginvestments has been that of project catalyst,
bringing together domestic sponsors,
foreign technical/financial partners and,
where needed most, government authorities
to ensure that the project is commercially
viable, organized on sound management,
operating and financial principles and will
be operated in a conducive regulatory
environment. The formulation and
establishment of operating policies provide
leasing companies with a specialized focus
on industrial equipment and, in many cases,on small and medium-sized borrowers.
Creating Value with Leasing in Emerging Markets(continued from page 1)
LEASING PROVIDES ACCESS TO FINANCE UZBEKISTANS SMES
Uzbek Leasing has been a partner in the IFC Leasing Advisory Program in
Central Asia since 2002 and has further strengthened its operational capacity. The
leasing sector in Uzbekistan is still small but growing rapidly. IFC played a role in
developing the leasing sector in Uzbekistan, helping to amend 11 pieces of
legislation to facilitate leasing in the country. As a result of these regulatory
improvements, targeted support at the company level and increased awareness,the leasing market in Uzbekistan has grown by US$220 million from 2001 to2007.
The companys clients are private SMEs, whose growth is critical for the
development of Uzbekistans economy. With total assets of $7.1 billion equivalent
and declining banking penetration rates, the financing needs of the private sector,
particularly SMEs, were not being met. Without access to term finance, SMEs are
unable to implement investment plans and modernize existing facilities. Many
small companies raised funds on the curb market, in cash, and often at
significantly higher interest rates. IFC provided advisory services to Uzbek
Leasing and granted them a loan targeted at addressing the scarcity of term
foreign currency financing available for businesses to fund imported production
equipment. In addition to supplying funding and boosting domestic investment,
the project should increase employment in the country and contribute to
development of best practice.
In August 2008, IFC committed a $3 million loan to Uzbek Leasing
International, the first leasing company established in Uzbekistan. Today Uzbek
Leasing, which has IFC as one of its four shareholders, is one of the leading and
most successful leasing companies in the country. Uzbek Leasing has served as a
model that has led other leasing companies to launch operations in Uzbekistan.
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PAGE 3ACCESSFINANCE | SEPTEMBER 2010 | ISSUE No. 33
IMPACT
The focus on leasing is due to its strong
impact in financial market development and
in supporting underserved SMEs. Leases areoften the only form of term financing SMEs
or start-ups can obtain in developing
markets as banks often do not serve them
well.
Supporting SMEs is an important factor
for alleviating poverty. A major barrier to
their growth is a lack of access to finance. An
effective approach to financing SMEs is by
supporting leasing companies, banks and
other financial institutions that serve these
enterprises.
IFC collected and analyzed data from itsSME focused financial institution
investment clients for four years to better
understand the composition of their
portfolios. In FY08, 197 of MSME-focused
financial institution clients in 73 countries
were surveyed, 25 of whom were leasing
investment clients.
Client institutions spanning 18 countries
extended 193,000 leases for a total disbursed
amount of US$5.2 billion to MSMEs globally
in 2007.
The average outstanding lease size wasUS$3,180 for micro leases, $20,498 for
small leases and $207,146 for medium
leases.
The average rate of non-performing loans
(NPLs) was 3 percent for micro, 2 percent
for small and 2 percent for medium leases.
IFCs leasing clients MSME portfolio grew
by 19 percent in number and 47 percent
in volume.1
NEW LESSONS FOR LEASE MARKET
DEVELOPMENTLeasing in emerging markets has
witnessed unprecedented growth and
significance over the past 35 years. However,
much needs to be done to increase lease
penetration rates and to obtain maximum
development impact. Recent market trends
and changes in the global leasing landscape
attest to this and call for a dynamic approach
to sustained lease market development in
emerging markets.
The viability of NBFIs has beenchallenged
Historically, stand-alone leasing
companies as non-bank financial
institutions (NBFIs) have been instrumental
for the promotion of SME access to finance
in emerging markets. NBFIs are generally
the first players to enter nascent leasing
markets, particularly in the most frontier
markets. However, they are more vulnerable
to adversity than banks because of their
limited access to and relatively higher cost of
funding. They often suffer from banking
competition as banks start developing
leasing products. First mover companies
may initially have an advantage in pricing
and play a strong development role, but
their advantage may be eroded quickly if
banks enter the market.
In the long run, the strongest NBFIsensure their sustainability by specializing in
specific niches such as vendor partnerships,
operating leases or industry clusters.
Ultimately, the development of a strong
leasing sector in a given country strongly
benefits from the entry of commercial banks
in the leasing business, as demonstrated in
almost all countries in which leasing
penetration is above 10 percent of fixed
capital formation.
Banks will take the lions share of theleasing market
In the context of the financial crisis, it has
become clear that leasing companies that are
part of a solid bank with a stable source of
retail deposit funding will have better
chances of surviving the crisis. Stand-alone
leasing companies dependent on whole-sale
borrowings will inevitably suffer. Banks have
access to competitive local currency funding
mainly through their deposits and are able
to leverage on their branch network to reach
more SMEs. They have proven to be
generally strong sponsors with sustainableSME outreach in the long run.
Leasing can be offered by banks as
another product within the bank through a
wholly owned subsidiary or a joint venture
with technical and other partners that
operate independently of the bank. By
increasing the range of products available as
well, banks not only create value for their
clients, SMEs in particular, but also for
Creating Value with Leasing inEmerging Markets(continued from page 2)
themselves. On the supply side, leasing can
help a bank obtain higher returns through a
relatively lower risk and diversified product
offering. It can also be less risky than
traditional lending.
Beyond the crisis, as banks adopt lessons
learned, they will explore new, relatively lowrisk products to offer. Key success factors for
bank lease operations include product
knowledge, asset management expertise and
risk management. Successful lease
operations require a cultural shift from
traditional banking to leasing, an asset
backed product.
Bank sponsors often have stronger
incentives to and are absorbing independent
leasing companies, either by buying a
substantial stake of or taking their market
share. Law-makers and regulators should
therefore encourage the ability of banks to
offer leasing products, directly or through
fully or partially owned subsidiaries for
increased outreach and maximum
development impact.
New and Innovative BusinessOpportunities Exist
For leasing to realize its full impact, there
is a need to find new and innovative ways to
integrate leasing in key sectors and
initiatives, including the following:
Sustainable Energy Finance
Leasing can support the global climate
change and sustainability agenda by
financing sustainable energy equipment.
Lack of financing for energy efficiency
equipment has been identified as a major
barrier to the development of the energy
efficiency industry. Leasing can help address
this barrier and facilitate the financing of
equipment in energy efficiency, renewable
energy and cleaner production. Leasing can
directly address the credit issues related to
smaller-size investments and smallbusinesses. It can also represent a large
source of funding for projects, and its
flexibility offers opportunities for
structuring and developing appropriate
replicable models. Lease financing can be
used in projects of all sizes, from large
industrial projects such as cogeneration,
through mass market programs like compact
florescent to residential appliances.
1CAGR: Compounded average growth rate based on 11 leasing clients that continuously reported from CY05 to CY07
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PAGE 4ACCESSFINANCE | SEPTEMBER 2010 | ISSUE No. 33
Leasing can help banks, leasing
companies and other financial institutions
(FIs) better manage the risks associated with
financing the sustainable energy industry. It
can help increase the range of products and
thereby create value for both the financial
institution and its clients while increasing
market share.
Agriculture Equipment Financing
Growth in agriculture is constrained by
limited access to credit. Leasing can play a
key role in addressing this access to finance
problem by providing term equipment
financing, thereby improving
mechanization, especially in rural areas.
Leasing can also be used to finance a broadrange of equipment across the agribusiness
value chain, from simple tools to equipment
IFC leasing projects have indicated strong
positive impact on private sector
development, particularly in the SME sector.
The impact of the financial crisis has
influenced the market. However, leasing is
and will continue to form an integral part of
Access to Finance models, as it bridges the
SME finance gap and fuels economic
development. IFC will continuously explore
new and innovative ways of creating
opportunities and value through leasing,
particularly where the objective is to help
small businesses access the financing they
need to grow and develop.
Leasing is and continues to be an
important financing mechanism in
emerging markets and OECD countries. The
development impact of IFCs leasing work in
emerging markets has been strong.
However, there is still a lot to do forgovernments, financial institutions and
SMEs to realize the full potential of this
important product.
Creating Value with Leasing inEmerging Markets(continued from page 3)
for agri-processing and the food
manufacturing businesses, thus facilitating
increased food production and distribution.
Because of the difficulty in finding
suitable collateral, most banks and leasing
companies are averse to providing credit to
farmers. By strengthening the leasing sector,
farmers and agribusiness companies will
find it easier to access term equipment
financing.
CONCLUSION
Leasing has a strong development impact
and plays a critical role to bridge the SME
finance gap and promote financial sector
development. The establishment and
commitment of over $21 million of
resources from IFC and its development
partners, coupled with over $1.4 billion in
investment projects by IFC in emergingmarkets has facilitated the growth of leasing
in these markets. Independent evaluations of
PAYMENT SYSTEMS
NEWS
Bharti Airtel Gets RBI Nod to Start
Mobile Payment Services. Bharti Airtel has
become the first mobile operator in India toreceive a license from the Reserve Bank of
India to start mobile payment services. The
Hindu Business Line, September 15, 2010.
EU unveils crackdown on derivatives.
New proposed rules aim to bring more
transparency to the often opaque world o
over-the-counter derivatives financial
instruments traded off-exchange between
two parties. Financial Times, September 15,
2010.
ECB to Create 'Super Regulators' for
Banks. The European Union took its firststep towards the creation of three super
regulators that could eventually take direct
responsibility for the oversight of individual
member states financial systems. The
Telegraph, September 3, 2010.
The M-Banking Revolution. As recently
as two years ago, mobile banking in the
developing world was an object of
skepticism among financial insiders. Now,
however, the doubters may have proved
wrong. Foreign Policy, August 27, 2010.
Touting Cost Savings, NACHA Launches
Pilot for Deposited Checks. DepositedCheck Truncation (DCT) is a method
intended to cut processing costs for banks
compared to the cost to clear check images.
Digital Transactions, August 24, 2010.
US Senate Passes Financial Reform. The
US Senate finally passed a landmark reform
regarding Wall Street on Thursday July 15,
ushering in a raft of restrictions on banks.
Financial Times, July 15, 2010.
RECENT PUBLICATIONS
The Payment System Payments,Securities and Derivatives, and the Role of
the Eurosystem.A comprehensive 370-page
insight into the handling of financial
transactions, the functioning of financial
market infrastructure, and the role of the
Eurosystem. Part I examines key concepts
and processes in market infrastructure
services of modern economies and
underlying economic, business, legal,
institutional and policy issues. Part II
reviews the market infrastructure for the
handling of financial transactions in euro
and key legislation. Part III explains the rolesand policies of the Eurosystem in this field.
European Central Bank, edited by Tom
Kokkola, September 2010.
Special Issue: Central Bank Liquidity
Tools and Perspectives on Regulatory
Reform.The papers in this special volume of
the Economic Policy Review all focus on the
theme of a 2009 conference on central bank
liquidity tools organized by the Federal
Reserve Bank of New York. Federal Reserve
Bank of New York, Economic Policy Review,
Volume 16, Number 1, August 2010.
China ATM (Automatic Teller Machine)
Industry Report, 2009-2010. Based on
statistics from Peoples Bank of China,
China Banking Association and China
UnionPay, this report studies the status quo
of ATM industry in China as well as the
operation of leading ATM manufacturers
around the world. Also, it analyzes the ATM
procurement and placement of every bank
http://www.thehindubusinessline.com/2010/09/16/stories/2010091652550600.htmhttp://www.thehindubusinessline.com/2010/09/16/stories/2010091652550600.htmhttp://www.thehindubusinessline.com/2010/09/16/stories/2010091652550600.htmhttp://www.ft.com/cms/s/0/c5f6b70a-c0a3-11df-94f9-00144feab49a.htmlhttp://www.ft.com/cms/s/0/c5f6b70a-c0a3-11df-94f9-00144feab49a.htmlhttp://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7978343/ECB-to-create-super-regulators-for-banks.htmlhttp://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7978343/ECB-to-create-super-regulators-for-banks.htmlhttp://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7978343/ECB-to-create-super-regulators-for-banks.htmlhttp://www.foreignpolicy.com/articles/2010/08/27/the_m_banking_revolution?page=fullhttp://www.foreignpolicy.com/articles/2010/08/27/the_m_banking_revolution?page=fullhttp://www.digitaltransactions.net/newsstory.cfm?newsid=2619http://www.digitaltransactions.net/newsstory.cfm?newsid=2619http://www.digitaltransactions.net/newsstory.cfm?newsid=2619http://www.ft.com/cms/s/0/6b9d4542-9026-11df-ad26-00144feab49a.htmlhttp://www.ft.com/cms/s/0/6b9d4542-9026-11df-ad26-00144feab49a.htmlhttp://www.ecb.int/pub/pdf/other/paymentsystem200909en.pdfhttp://www.ecb.int/pub/pdf/other/paymentsystem200909en.pdfhttp://www.ecb.int/pub/pdf/other/paymentsystem200909en.pdfhttp://www.ecb.int/pub/pdf/other/paymentsystem200909en.pdfhttp://www.ny.frb.org/research/epr/2010.htmlhttp://www.ny.frb.org/research/epr/2010.htmlhttp://www.ny.frb.org/research/epr/2010.htmlhttp://www.ny.frb.org/research/epr/2010.htmlhttp://www.researchandmarkets.com/research/155227/china_atm_automathttp://www.researchandmarkets.com/research/155227/china_atm_automathttp://www.researchandmarkets.com/research/155227/china_atm_automathttp://www.researchandmarkets.com/research/155227/china_atm_automathttp://www.researchandmarkets.com/research/155227/china_atm_automathttp://www.ny.frb.org/research/epr/2010.htmlhttp://www.ny.frb.org/research/epr/2010.htmlhttp://www.ny.frb.org/research/epr/2010.htmlhttp://www.ecb.int/pub/pdf/other/paymentsystem200909en.pdfhttp://www.ecb.int/pub/pdf/other/paymentsystem200909en.pdfhttp://www.ecb.int/pub/pdf/other/paymentsystem200909en.pdfhttp://www.ft.com/cms/s/0/6b9d4542-9026-11df-ad26-00144feab49a.htmlhttp://www.digitaltransactions.net/newsstory.cfm?newsid=2619http://www.digitaltransactions.net/newsstory.cfm?newsid=2619http://www.foreignpolicy.com/articles/2010/08/27/the_m_banking_revolution?page=fullhttp://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7978343/ECB-to-create-super-regulators-for-banks.htmlhttp://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7978343/ECB-to-create-super-regulators-for-banks.htmlhttp://www.ft.com/cms/s/0/c5f6b70a-c0a3-11df-94f9-00144feab49a.htmlhttp://www.thehindubusinessline.com/2010/09/16/stories/2010091652550600.htmhttp://www.thehindubusinessline.com/2010/09/16/stories/2010091652550600.htm8/8/2019 AFNewsletter33 Sept2010 FINAL
5/18
and predicts the investment opportunities
and risks in ATM industry in the future.
Research and Markets, August 2010. (For
purchase)Liquidity Costs and Tiering in Large-
Value Payment Systems. This paper
develops and simulates a model of the
emergence of networks in an interbank,
RTGS payment system. A number of banks,
faced with random streams of payment
orders, choose whether to link directly to the
payment system, or to use a correspondent
bank. A calibration exercise on data from
the UK CHAPS system suggests that the
model is able to generate realistic
predictions, i.e. a network topology similar
to that observed in reality, driven solely by
the underlying pattern of payments and the
structure of liquidity costs. Central Bank o
England, Working Paper No.399, by M.
Adams, M. Galbiati and S. Giansante, July
2010.
Payments in Mobile 2010-2015.
According to the GSMA there will be 1.7
billion mobile phone users by the end o
2012 that do not possess a formal bank
account. Mobile subscriber penetration
worldwide will continue to increase with
over 5.4 Billion handsets in circulation as ofthe end of 2015. The ubiquity of the mobile
phone will bring to the floor the potential
for m-banking and the wider potential of m-
payment services enabled by the mobile
phone. This report examines the
opportunities and challenges for m-
payments to become readily accepted in the
developing and developed market.
Visiongain, June 2010. (For purchase)
Guidance on the application of the 2004
CPSS-IOSCO Recommendations for Central
Counterparties to OTC derivatives CCPsconsultative report. Prepared by a working
group jointly established in June 2009 by the
Committee on Payment and Settlement
Systems (CPSS) and the Technical
Committee of the International
Organization of Securities Commissions
(IOSCO), this report presents guidance on
the application of the 2004 CPSS-IOSCO
Recommendations for Central
Counterparties (RCCP) to the CCPs clearing
over-the-counter (OTC) derivatives
products (OTC derivatives CCPs). The
World Bank actively participated to this
effort, through the Payment System
Development Group. Bank for International
Settlements, Committee on Payment and
Settlement Systems, CPSS Publications No 89,
May 2010.
Report on the Brazilian Payment Cards
industry.In July of 2006, the Central Bank of
Brazil, the Secretariat of Economic Law of
the Ministry of Justice (SDE), and the
Secretariat for Economic Monitoring of the
Ministry of Finance (SEAE) celebrated a
technical cooperation memorandum aimed
at carrying out joint studies relating to retail
payment systems. This report, which is the
first outcome of that effort, aims to identify
potential market failures stemming from
markets organization and practices, so as to
become a reference for possible steps
towards social welfare improvements.
Central Bank of Brazil, SDE, SEAE, May
2010.
Payments and Securities Settlement
Systems in Pakistan. The Payment Systems
Development Group (PSDG) at the World
Bank has published the first color book of
the purple series, produced in the context
of the World Bank South Asia Payments and
Securities Settlement Initiative (SAPI). Thereport, in collaboration with the State Bank
of Pakistan (SBP), contains a systematic in-
depth description of Pakistans payments
and securities settlement systems.
Additional reports for South Asia, including
Bangladesh, Nepal and Bhutan will follow.
The World Bank, April 2010.
Collateral, Netting and Systemic Risk in
the OTC Derivatives Market. To mitigate
systemic risk, some regulators have
advocated the greater use of Central
Counterparties (CCPs) to clear over-the-counter (OTC) derivatives trades.
Regulators should be cognizant that large
banks active in the OTC derivatives market
do not hold collateral against all the
positions in their trading book, and the
paper proves an estimate of this under-
collateralization. Whatever collateral is held
by banks is allowed to be re-used to others.
Since CCPs would require all positions to
have collateral against them, off-loading a
significant portion of OTC derivatives
transactions to CCPs would require large
increases in posted collateral, requiring large
banks to raise more capital. These costs
suggest that most large banks will be
reluctant to offload their positions to CCPs,
and the paper proposes an appropriate
capital levy on remaining positions to
encourage the transition. IMF Working
Paper 10/99, byM. Singh, April 2010.
Mobile Banking and Payments. After
abandoning initial rollouts a few years ago
following poor consumer take up, banks
worldwide are now re-entering the market.
This report assesses the role of the mobile
phone as a banking device as well as a
payment function. Case studies and
examples include: Bank of America, Citi,
Facebook, First National Bank, iTunes,
Microsoft, Nokia, Paypal, Twitter, Visa,
Wells Fargo, Wizzit and others. VRL
Reports, April 2010 (for purchase).
UPCOMING EVENTS
Cards Latin America. Cards Latin
America is the networking event of the year
for the Latin cards and payments industry. It
brings together a targeted group of cards
executives in one place at one time for
unparalleled access and networking
opportunities. Organized by Terrapinn.
Coral Gables, FL. October 4-6, 2010.Prepaid Cards LatAm 2010.An entire day
to discuss the avenues for growth of prepaid
cards in Latin America, from government
benefits, to transportation, to retail.
Organized by Terrapinn. Coral Gables, FL.
October 6, 2010.
Global Payments Week 2010. The
biannual event gathering central banks and
securities commissions from all over the
world. Organized by the World Bank.
Amsterdam, The Netherlands. October 19-
22, 2010.SIBOS 2010. Once a year, Sibos brings
together the financial industry to create
opportunities for individuals, organizations
and the community as a whole. Facilitated
and organized by SWIFT, this forum creates
the stimulus for learning, collaborating,
developing new business, defining future
strategies and taking collective action.
Amsterdam, The Netherlands. October 25-
29, 2010.
PAGE 5ACCESSFINANCE | SEPTEMBER 2010 | ISSUE No. 33
Payment Systems(continued from page 4)
http://www.bankofengland.co.uk/publications/workingpapers/wp399.pdfhttp://www.bankofengland.co.uk/publications/workingpapers/wp399.pdfhttp://www.bankofengland.co.uk/publications/workingpapers/wp399.pdfhttp://www.visiongain.com/Report/483/Payments-in-Mobile-2010-2015http://www.visiongain.com/Report/483/Payments-in-Mobile-2010-2015http://www.bis.org/publ/cpss89.pdf?noframes=1http://www.bis.org/publ/cpss89.pdf?noframes=1http://www.bis.org/publ/cpss89.pdf?noframes=1http://www.bis.org/publ/cpss89.pdf?noframes=1http://www.bis.org/publ/cpss89.pdf?noframes=1http://www.bcb.gov.br/Pom/Spb/Ing/Payment_Cards_Report.pdfhttp://www.bcb.gov.br/Pom/Spb/Ing/Payment_Cards_Report.pdfhttp://www.bcb.gov.br/Pom/Spb/Ing/Payment_Cards_Report.pdfhttp://siteresources.worldbank.org/FINANCIALSECTOR/Resources/282044-1271859292169/Pakistan_country_book_April_2010_final.pdfhttp://siteresources.worldbank.org/FINANCIALSECTOR/Resources/282044-1271859292169/Pakistan_country_book_April_2010_final.pdfhttp://siteresources.worldbank.org/FINANCIALSECTOR/Resources/282044-1271859292169/Pakistan_country_book_April_2010_final.pdfhttp://www.imf.org/external/pubs/ft/wp/2010/wp1099.pdfhttp://www.imf.org/external/pubs/ft/wp/2010/wp1099.pdfhttp://www.imf.org/external/pubs/ft/wp/2010/wp1099.pdfhttp://www.vrl-financial-news.com/retail-banking/retail-banker-intl/reports/mobile-banking-and-payments.aspx?page=11698http://www.vrl-financial-news.com/retail-banking/retail-banker-intl/reports/mobile-banking-and-payments.aspx?page=11698http://www.terrapinn.com/2010/cla/index.stmhttp://www.terrapinn.com/2010/cla/index.stmhttp://www.terrapinn.com/2010/prepaidlatam/http://www.terrapinn.com/2010/prepaidlatam/http://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTFINANCIALSECTOR/0,,contentMDK:22706927~menuPK:6127452~pagePK:210058~piPK:210062~theSitePK:282885~isCURL:Y,00.htmlhttp://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTFINANCIALSECTOR/0,,contentMDK:22706927~menuPK:6127452~pagePK:210058~piPK:210062~theSitePK:282885~isCURL:Y,00.htmlhttp://www.swift.com/sibos2010/index.pagehttp://www.swift.com/sibos2010/index.pagehttp://www.swift.com/sibos2010/index.pagehttp://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTFINANCIALSECTOR/0,,contentMDK:22706927~menuPK:6127452~pagePK:210058~piPK:210062~theSitePK:282885~isCURL:Y,00.htmlhttp://www.terrapinn.com/2010/prepaidlatam/http://www.terrapinn.com/2010/cla/index.stmhttp://www.vrl-financial-news.com/retail-banking/retail-banker-intl/reports/mobile-banking-and-payments.aspx?page=11698http://www.imf.org/external/pubs/ft/wp/2010/wp1099.pdfhttp://www.imf.org/external/pubs/ft/wp/2010/wp1099.pdfhttp://siteresources.worldbank.org/FINANCIALSECTOR/Resources/282044-1271859292169/Pakistan_country_book_April_2010_final.pdfhttp://siteresources.worldbank.org/FINANCIALSECTOR/Resources/282044-1271859292169/Pakistan_country_book_April_2010_final.pdfhttp://www.bcb.gov.br/Pom/Spb/Ing/Payment_Cards_Report.pdfhttp://www.bcb.gov.br/Pom/Spb/Ing/Payment_Cards_Report.pdfhttp://www.bis.org/publ/cpss89.pdf?noframes=1http://www.bis.org/publ/cpss89.pdf?noframes=1http://www.bis.org/publ/cpss89.pdf?noframes=1http://www.bis.org/publ/cpss89.pdf?noframes=1http://www.visiongain.com/Report/483/Payments-in-Mobile-2010-2015http://www.bankofengland.co.uk/publications/workingpapers/wp399.pdfhttp://www.bankofengland.co.uk/publications/workingpapers/wp399.pdf8/8/2019 AFNewsletter33 Sept2010 FINAL
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PAGE 6ACCESSFINANCE | SEPTEMBER 2010 | ISSUE No. 33
Mobile Money Transfer Global.Bringing
together leading players from across the
entire MMT ecosystem, MMT Global will
feature 40-plus top executive presentations
and global case studies. MMT Global will seeover 400 people come together to network
and discuss the latest industry developments
and explore the opportunities and challenges
facing the industry. Dubai, UAE. October
25-26, 2010.
Expanding the Horizon of Payment
Systems. Global Payment System
Conference organized by the World Bank
Payment Systems Development Group
(PSDG) in the context of the IFC-World
Bank Financial Infrastructure Week, Rio de
Janeiro, Brazil, March 2011.
International Payments Summit (IPS)
2011. IPS - The World's Leading Payments
Conference. Over 400-plus attendees and
110-plus international industry speakers.
Organized by ICBI. London, UK. March 21-
24, 2011.
PAST EVENTS
AFI Global Policy Forum.The 2010 event
will be a unique opportunity to review and
assess progress on financial inclusion
policymaking, take stock of key activities,
and share lessons learned, identify gaps and
challenges to address bottlenecks and
further advance financial inclusion policy in
developing countries. Co-hosted by AFI and
Bank Indonesia. Bali, Indonesia. September
27-29, 2010.
Effective Oversight of Payments, Clearing
and Settlement Systems. This 4-day
programme aimed to equip payment
systems experts in central banks to meet the
challenge to formulate an oversight
framework for ensuring the safety and
reliability of the payments, clearing andsettlement systems, along with addressing
the issues of competition, accessibility,
efficiency and the prevention of fraud.
Sponsored by Central Banking. Cambridge,
UK. August 31 - September 3, 2010.
Prepaid Cards & Mobile Payments 2010
Conference.This event examined innovative
payment technologies and forecast the
prepaid role in the evolution, update on
regulatory and legal developments, and
share best practices on mobile payment
technologies. Organized by IQPC. Denver,
CO. June 28-30, 2010.
Payments Panorama 2010.The theme for
the Payments Panorama 2010 was
Leadership, Change and Vision in the
Payments Industry. The program featured
sessions on mobile payments, international
standards, crime and payment, and
innovation and evolution in the retail
payments sector. Vancouver, Canada. June
16-18, 2010.
Prepaid 2010. By 2015 MasterCard and
PSE Consulting project the value of prepaid
spending to reach EUR131bn in Europe;
winning prepaid businesses will identify and
dominate a market niche. Prepaid 2010
provided round tables and panels around anagenda genuinely driven by audience
questions, with over 100 global prepaid
visionaries. London, UK. June 14-16, 2010.
5th Annual Underbanked Financial
Services Forum. This year's edition focused
on credit, payments and deposits. Miami,
FL. June 9-11, 2010.
infoDev Annual Symposium 2010: Clean,
Green and Mobile. Making Technology
Work for the Poor. The Mobile Phone
Applications Panel discussion focused on
how mobile services can effectively serve thepoorest at the base of the pyramid.
Washington, DC. June 9, 2010.
NEWSLETTERS AND JOURNALS
Dialogue. The Voice of the SWIFT
Community.
International Banking Systems. IBS
Journal provides news, research and analysis
covering banking operations and systems
internationally. In addition to the monthly
IBS Journal and CFS Journal, reports, case
studies and directories are also availableonline.
Journal of Payments Strategy & Systems
publishes peer-reviewed articles and case
studies analyzing best practice, emerging
issues and new thinking in how to develop a
profitable, customer-focused payments
strategy. Published by Henry Stewart
Publications.
SPEED. Settlements, Payments, E-
money & E-trading Development is a new
quarterly journal from Central Banking
Publications which focuses on policy
developments affecting financial
infrastructures at the national and
international levels.
The Lydian Payments Journal.Launched
in 2009, and published on Pymnts.com, an
online media channel featuring news and
analysis on whats next in the payments
sector, this journal is specifically targeted to
the payments professionals.
LINKS
World Bank Payment Systems
Development Group. For more than 12
years the World Bank has been paying
increasing attention to payment system
development, and has provided variousforms of assistance to over 100 countries.
Bank for International Settlements. The
Bank for International Settlements (BIS) is
an international organization which fosters
international monetary and financial
cooperation and serves as a bank for central
banks.
Western Hemisphere Payment &
Securities Settlement Forum. The Western
Hemisphere Payments and Securities
Clearance and Settlement Initiative (WHI)
has become a regional forum to discussrelevant issues in the field of payments and
securities clearance and settlement.
CIS-PI. Commonwealth of Independent
States Payments and Securities Settlement
Initiative aims to assess payments and
securities settlement systems in the
Countries belonging to the CIS with a view
to improve their safety, efficiency and
integrity.
SWIFT. The Society for Worldwide
Interbank Financial Telecommunication
provides the proprietary communicationsplatform for the exchange of financial
information to over 8,300 customers in
more than 208 countries.
CGAP. The Consultative Group for
Assisting the Poor aims to help build
efficient and equitable local financial
markets that serve all poor people with
convenient and affordable financial services.
Payment Systems(continued from page 5)
http://www.mobile-money-transfer.com/global-summit/?phpMyAdmin=513c4b9414a6t38cff6f1http://www.mobile-money-transfer.com/global-summit/?phpMyAdmin=513c4b9414a6t38cff6f1http://www.icbi-events.com/ips/http://www.icbi-events.com/ips/http://www.icbi-events.com/ips/http://www.afi-global.org/en/news-a-events/global-policy-forumhttp://www.afi-global.org/en/news-a-events/global-policy-forumhttp://web.incisive-events.com/rma/2008/11/central-banking/EM.htmlhttp://web.incisive-events.com/rma/2008/11/central-banking/EM.htmlhttp://web.incisive-events.com/rma/2008/11/central-banking/EM.htmlhttp://www.prepaidcardsevent.com/Event.aspx?id=269228http://www.prepaidcardsevent.com/Event.aspx?id=269228http://www.prepaidcardsevent.com/Event.aspx?id=269228http://www.cdnpay.ca/conference/english/homepage.htmlhttp://www.cdnpay.ca/conference/english/homepage.htmlhttp://www.prepaid-conference.com/index.phphttp://www.prepaid-conference.com/index.phphttp://www.americanbanker.com/conferences/cfsi10/http://www.americanbanker.com/conferences/cfsi10/http://www.americanbanker.com/conferences/cfsi10/http://www.infodev.org/en/index.htmlhttp://www.infodev.org/en/index.htmlhttp://www.infodev.org/en/index.htmlhttp://www.infodev.org/en/index.htmlhttp://www.swift.com/about_swift/publications/dialogue_magazine/index.pagehttp://www.swift.com/about_swift/publications/dialogue_magazine/index.pagehttp://www.ibsintelligence.com/index.php?option=com_content&view=section&layout=blog&id=2&Itemid=3http://www.ibsintelligence.com/index.php?option=com_content&view=section&layout=blog&id=2&Itemid=3http://www.ibspublishing.com/index.cfm?section=subscribe&action=view&id=1http://www.ibspublishing.com/index.cfm?section=subscribe&action=view&id=58http://www.henrystewart.com/jpss.aspxhttp://www.henrystewart.com/jpss.aspxhttp://www.centralbanking.co.uk/publications/journals/speed.htmhttp://www.centralbanking.co.uk/publications/journals/speed.htmhttp://www.pymnts.com/journal/http://www.pymnts.com/journal/http://www.worldbank.org/paymentsystemshttp://www.worldbank.org/paymentsystemshttp://www.worldbank.org/paymentsystemshttp://www.bis.org/http://www.bis.org/http://www.forodepagos.org/english.htmhttp://www.forodepagos.org/english.htmhttp://www.forodepagos.org/english.htmhttp://www.cis-pi.org/english/index.htmlhttp://www.cis-pi.org/english/index.htmlhttp://www.swift.com/http://www.swift.com/http://www.cgap.org/p/site/c/home/http://www.cgap.org/p/site/c/home/http://www.cgap.org/p/site/c/home/http://www.swift.com/http://www.cis-pi.org/english/index.htmlhttp://www.forodepagos.org/english.htmhttp://www.forodepagos.org/english.htmhttp://www.bis.org/http://www.worldbank.org/paymentsystemshttp://www.worldbank.org/paymentsystemshttp://www.pymnts.com/journal/http://www.centralbanking.co.uk/publications/journals/speed.htmhttp://www.henrystewart.com/jpss.aspxhttp://www.ibspublishing.com/index.cfm?section=subscribe&action=view&id=58http://www.ibspublishing.com/index.cfm?section=subscribe&action=view&id=1http://www.ibsintelligence.com/index.php?option=com_content&view=section&layout=blog&id=2&Itemid=3http://www.swift.com/about_swift/publications/dialogue_magazine/index.pagehttp://www.infodev.org/en/index.htmlhttp://www.infodev.org/en/index.htmlhttp://www.infodev.org/en/index.htmlhttp://www.americanbanker.com/conferences/cfsi10/http://www.americanbanker.com/conferences/cfsi10/http://www.prepaid-conference.com/index.phphttp://www.cdnpay.ca/conference/english/homepage.htmlhttp://www.prepaidcardsevent.com/Event.aspx?id=269228http://www.prepaidcardsevent.com/Event.aspx?id=269228http://web.incisive-events.com/rma/2008/11/central-banking/EM.htmlhttp://web.incisive-events.com/rma/2008/11/central-banking/EM.htmlhttp://www.afi-global.org/en/news-a-events/global-policy-forumhttp://www.icbi-events.com/ips/http://www.icbi-events.com/ips/http://www.mobile-money-transfer.com/global-summit/?phpMyAdmin=513c4b9414a6t38cff6f18/8/2019 AFNewsletter33 Sept2010 FINAL
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Payment Systems(continued from page 6)
PAGE 7ACCESSFINANCE | SEPTEMBER 2010 | ISSUE No. 33
Eurogiro Network. Through its
community of postal organizations, banks
and payment service providers, Eurogiro
provides high quality solutions in the low-
value payment market.
Payment News.This website presents the
latest news on the payment system industry.
REMITTANCES
NEWS
Bangladeshi Remittances Hit Record
High. Bangladeshis working overseas sent a
record $938 million home to their families
in August, confounding fears that the global
economic crisis would trigger a flood ofreturning migrant workers and a plunge in
crucial remittances. Financial Times,
September 7, 2010.
Sri Lanka Remittances May Rise to
Record $3.8 Billion After Civil War Ends.
Remittances sent home by Sri Lankan
nationals overseas may rise to a record $3.8
billion in 2010, a central bank official said,
adding that policy makers will ensure
stability of the currency as the flows
increase. Bloomberg, September 7, 2010.
Deal of the Day: Money-Transfer
Companies Evolve, as Remittances
Rebound. The money-transfer industry is
fragmented, and needs to adapt to new
competition, regulations and technologies.
Like other sectors, it is using the aftermath
of the Great Recession to consolidate.
Financial Times, August 25, 2010.
Philippine Remittances Rise, At a Cost.
Trade Union Congress of the Philippines
secretary general Ernesto Herrera describes
the rates the banks and other money transfer
firms slap on the remittances as "oppressive
and burdensome". Asia Times, August 19,
2010.
Congress Boosts Remittance
Transparency in Reform Bill. The financial
reform includes long-needed remittance
transparency standards that will help ensure
the safe and affordable transfer of money
from immigrant workers to their families
abroad. RemittancesGateway.org, July 17
2010.
RECENT PUBLICATIONS
Ten Years of Innovation in Remittances:
Lessons Learned and Models for the Future.
Independent Review of the Multilateral
Investment Fund Remittance Portfolio.This
report is a review of the Multilateral
Investment Funds remittance program
since its start in 2000, when it began. The
review focuses primarily on the portfolio of
remittance projects undertaken by the MIF
from 2001 to 2009, and secondarily on the
MIFs research and dissemination activities
during that same time period. Inter-
American Development Banks Multilateral
Investment Fund, by Joan Hall (Ayani NL
Consultants), May 2010.
A Review of International Migration
Policies. As flows of migrants from
developing countries to developed countriesgrow over time, migration has become an
important issue that warrant good
management. This paper reviews migration
policies that exist in various countries and,
especially those that could be applicable to
North and West African countries. The
remittance section investigates existing
mechanisms which could be used to increase
remittances and promote their investment,
reduce transfer cost, and encourage formal
channel of remittances. Securitization and
regulation of remittances are also
mentioned. Programme for the Study of
Global Migration, Graduate Institute of
International and Development Studies,
Geneva, by N. Luckanachai and M. Rieger,
2010.
An Analysis of Trends in the Average
Total Cost of Migrant Remittance Services.
The World Bank Group published the
fourth update of the Remittance Prices
Worldwide databases which tracks what
migrant workers pay to send money to their
family at home. The global average total cost
for sending US$200 is down to 8.72 percentbut that average costs for some country
corridors are still as high as 22 percent, with
some providers offering services at a cost
that exceeds 40 percent. This Policy Note
has been produced based on the latest data
collection in the Remittance Prices
Worldwide database and will be updated
periodically as new data becomes available.
The World Bank Group, April 2010.
Migration and Development Brief 12:
Remittance Flows to Developing Countries
Remained Resilient in 2009, Expected to
Recover During 2010-11.Officially recorded
remittance flows to developing countries
reached US$316 billion in 2009, down 6
percent from US$336 billion in 2008. Withimproved prospects for the global economy,
remittance flows to developing countries are
expected to increase by 6.2 percent in 2010
and 7.1 percent in 2011, a faster pace o
recovery in 2010 than our earlier forecasts.
The World Bank, byD. Ratha, S. Mohapatra
and A. Silwal, April 2010.
Migrant Remittance Flows: Findings
from a Global Survey of Central Banks.
Drawing on the findings from responses to a
2008-09 survey from 114 central banks
worldwide (33 of which are in Africa), thispaper aims to better understand how central
banks and other national institutions
regulate and collect data and other
information on cross-border remittance
flows. The World Bank, by J. Irving, S.
Mohapatra, and D. Ratha, March 2010 (for
purchase).
Remittances to Latin America and the
Caribbean in 2009. The Impact of the Global
Financial Crisis. Remittance flows to
countries in Latin America and the
Caribbean (LAC) in 2009 were not immune
to the impact of the global financial crisis.
The economic slowdown has resulted in a
15% decline in remittance receipts
compared to 2008. However, analysis of data
from the last quarter of 2009 point to a
possible stabilization of flows in 2010. Inter-
American Development Banks Multilateral
Investment Fund. March 2010.
UPCOMING EVENTS
IMTC MIAMI 2010. This is fifth
International Money Transmitters
Conference organized by the NationalMoney Transmitters Association (the
NMTA) and Mohr World Consulting
(MWC). Miami, FL. October 16-19, 2010,
Money Transfers London Summit
(MTLS). Organized by IAMTN. London,
UK. November 15-16, 2010.
Money Transfers Dubai (MTD).
Organized by IAMTN. Dubai, UAE. April
19, 2011.
http://www.eurogiro.com/http://www.eurogiro.com/http://www.paymentsnews.com/http://www.paymentsnews.com/http://www.ft.com/cms/s/0/5843b632-9bb4-11de-b214-00144feabdc0.htmlhttp://www.ft.com/cms/s/0/5843b632-9bb4-11de-b214-00144feabdc0.htmlhttp://www.ft.com/cms/s/0/5843b632-9bb4-11de-b214-00144feabdc0.htmlhttp://www.bloomberg.com/news/2010-09-07/sri-lanka-remittances-may-rise-to-record-3-8-billion-after-civil-war-ends.htmlhttp://www.bloomberg.com/news/2010-09-07/sri-lanka-remittances-may-rise-to-record-3-8-billion-after-civil-war-ends.htmlhttp://www.bloomberg.com/news/2010-09-07/sri-lanka-remittances-may-rise-to-record-3-8-billion-after-civil-war-ends.htmlhttp://blogs.ft.com/beyond-brics/2010/08/25/deal-of-the-day-money-transfer-companies-evolve-as-remittances-rebound/http://blogs.ft.com/beyond-brics/2010/08/25/deal-of-the-day-money-transfer-companies-evolve-as-remittances-rebound/http://blogs.ft.com/beyond-brics/2010/08/25/deal-of-the-day-money-transfer-companies-evolve-as-remittances-rebound/http://blogs.ft.com/beyond-brics/2010/08/25/deal-of-the-day-money-transfer-companies-evolve-as-remittances-rebound/http://www.atimes.com/atimes/Southeast_Asia/LH19Ae01.htmlhttp://www.atimes.com/atimes/Southeast_Asia/LH19Ae01.htmlhttp://www.remittancesgateway.org/index.php/press-clippings/other-news/752-congress-boosts-remittance-transparency-in-reform-billhttp://www.remittancesgateway.org/index.php/press-clippings/other-news/752-congress-boosts-remittance-transparency-in-reform-billhttp://www.remittancesgateway.org/index.php/press-clippings/other-news/752-congress-boosts-remittance-transparency-in-reform-billhttp://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=35163520http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=35163520http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=35163520http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=35163520http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=35163520http://graduateinstitute.ch/webdav/site/globalmigration/shared/A%20review%20of%20international%20migration%20policies.pdfhttp://graduateinstitute.ch/webdav/site/globalmigration/shared/A%20review%20of%20international%20migration%20policies.pdfhttp://graduateinstitute.ch/webdav/site/globalmigration/shared/A%20review%20of%20international%20migration%20policies.pdfhttp://wbmsfpd03.50992/~/media/FPDKM/Remittances/Documents/RemittncePriceWorldwide/Analysis.pdfhttp://wbmsfpd03.50992/~/media/FPDKM/Remittances/Documents/RemittncePriceWorldwide/Analysis.pdfhttp://wbmsfpd03.50992/~/media/FPDKM/Remittances/Documents/RemittncePriceWorldwide/Analysis.pdfhttp://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1110315015165/MigrationAndDevelopmentBrief12.pdfhttp://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1110315015165/MigrationAndDevelopmentBrief12.pdfhttp://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1110315015165/MigrationAndDevelopmentBrief12.pdfhttp://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1110315015165/MigrationAndDevelopmentBrief12.pdfhttp://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1110315015165/MigrationAndDevelopmentBrief12.pdfhttp://publications.worldbank.org/ecommerce/catalog/product?item_id=9729038http://publications.worldbank.org/ecommerce/catalog/product?item_id=9729038http://publications.worldbank.org/ecommerce/catalog/product?item_id=9729038http://www.remesamericas.org/http://www.remesamericas.org/http://www.remesamericas.org/http://www.remesamericas.org/http://www.nmta.us/site/page.php?379http://www.nmta.us/site/page.php?379http://www.iamtn.org/conference-calendarhttp://www.iamtn.org/conference-calendarhttp://www.iamtn.org/conference-calendarhttp://www.iamtn.org/conference-calendarhttp://www.iamtn.org/conference-calendarhttp://www.iamtn.org/conference-calendarhttp://www.iamtn.org/conference-calendarhttp://www.iamtn.org/conference-calendarhttp://www.nmta.us/site/page.php?379http://www.remesamericas.org/http://www.remesamericas.org/http://www.remesamericas.org/http://publications.worldbank.org/ecommerce/catalog/product?item_id=9729038http://publications.worldbank.org/ecommerce/catalog/product?item_id=9729038http://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1110315015165/MigrationAndDevelopmentBrief12.pdfhttp://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1110315015165/MigrationAndDevelopmentBrief12.pdfhttp://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1110315015165/MigrationAndDevelopmentBrief12.pdfhttp://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1110315015165/MigrationAndDevelopmentBrief12.pdfhttp://wbmsfpd03.50992/~/media/FPDKM/Remittances/Documents/RemittncePriceWorldwide/Analysis.pdfhttp://wbmsfpd03.50992/~/media/FPDKM/Remittances/Documents/RemittncePriceWorldwide/Analysis.pdfhttp://graduateinstitute.ch/webdav/site/globalmigration/shared/A%20review%20of%20international%20migration%20policies.pdfhttp://graduateinstitute.ch/webdav/site/globalmigration/shared/A%20review%20of%20international%20migration%20policies.pdfhttp://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=35163520http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=35163520http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=35163520http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=35163520http://www.remittancesgateway.org/index.php/press-clippings/other-news/752-congress-boosts-remittance-transparency-in-reform-billhttp://www.remittancesgateway.org/index.php/press-clippings/other-news/752-congress-boosts-remittance-transparency-in-reform-billhttp://www.atimes.com/atimes/Southeast_Asia/LH19Ae01.htmlhttp://blogs.ft.com/beyond-brics/2010/08/25/deal-of-the-day-money-transfer-companies-evolve-as-remittances-rebound/http://blogs.ft.com/beyond-brics/2010/08/25/deal-of-the-day-money-transfer-companies-evolve-as-remittances-rebound/http://blogs.ft.com/beyond-brics/2010/08/25/deal-of-the-day-money-transfer-companies-evolve-as-remittances-rebound/http://www.bloomberg.com/news/2010-09-07/sri-lanka-remittances-may-rise-to-record-3-8-billion-after-civil-war-ends.htmlhttp://www.bloomberg.com/news/2010-09-07/sri-lanka-remittances-may-rise-to-record-3-8-billion-after-civil-war-ends.htmlhttp://www.ft.com/cms/s/0/5843b632-9bb4-11de-b214-00144feabdc0.htmlhttp://www.ft.com/cms/s/0/5843b632-9bb4-11de-b214-00144feabdc0.htmlhttp://www.paymentsnews.com/http://www.eurogiro.com/8/8/2019 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PAGE 8ACCESSFINANCE | SEPTEMBER 2010 | ISSUE No. 33
Money Transfers Moscow (MTM).
Organized by IAMTN. Moscow, Russia.
June 21, 2011.
Money Transfer & Migrant Remittances.
Organized by ICBI. TBC. June 2011.
PAST EVENTS
Money Transfers Singapore 2010.
Organized by IAMTN. The one-day
conference was the second IAMTN
conference held on remittances in
Singapore. Delegates from money transfer
companies, banks, mobile and card payment
operators and technology providers as well
as regulators throughout Asia Pacific took
part in a packed one day event that will
addressed the key issues in the remittanceworld, in the largest receiving region in the
world. Singapore. September 21, 2010.
Money Transfer & Migrant Remittances.
The third annual event organized by ICBI.
Among the topics of this years conference:
the latest news on the World Bank 5x5
objective; how the industry has responded to
the financial crisis; and mobile money who
will be the winners and losers? Barcelona,
Spain. June 23-24, 2010.
Money Transfers Moscow 2010.
Organized by IAMTN. Moscow, RussianFederation. June 7, 2010.
Remesamericas 2010: Remittances for the
Future. Remesamericas 2010 brought
together MIF project partners and other
market actors to disseminate best practices,
innovative solutions, and lessons learned
over the 10 years that the MIF has been
raising awareness about and financing
projects that use remittances as a
development tool. Organized by the Inter-
American Development Banks Multilateral
Investment Fund. Mexico City, Mexico. May6-7, 2010.
Segunda Convencin de la Asociacin
Iberomericana de Remesadoras. This is
second forum organized by Asociacin
Iberomericana de Remesadoras for money
transfer operators in the world. Madrid,
Spain. April 8-10, 2010
NEWSLETTERS
Migrant Remittances Newsletter.
Sponsored by the U.K. Department for
International Development (DFID) and the
U.S. Agency for International Development
(USAID), and produced by The QED
Group.
Migration for Development. Facilitated
by the EC-UN Joint Migration and
Development Initiative (JMDI).
Money Transfer Newsletter. Maintained
by the International Association of Money
Transfer Networks (IAMTN).
LINKS
Remittance Prices Worldwide. The
World Bank Group Database provides data
on the cost of sending and receiving small
amounts of money from one country to
another (Available in English, Arabic,
Chinese, French, Italian, Portuguese,
Russian and Spanish). New corridors and
features available (March 2010).
Global Remittances Working Group. The
GRWG comprises of representatives from
the World Bank Group and interested
national authorities, and is chaired by the
World Bank-IFC Vice President for
Financial and Private Sector Development.Launched in January 2010, this website
informs about the structure and the
activities of the GRWG.
World Bank Certified Regional and
National Databases
These databases cover regional and
national remittance markets and fully
comply with the World Bank official
requirements for Remittance Prices
Comparison Databases.
Italy:www.mandasoldiacasa.it(Italian)
Australia and New Zealand:
www.sendmoneypacific.org
Other National Remittance Prices
Databases
These databases cover regional and
national remittance markets and are not
necessarily consistent with the methodology
of the World Bank Group database.
France:www.envoidargent.org(French)
Germany:www.geldtransfair.de
(German)
Mexico:www.profeco.gob.mx/envio/envio.asp
(Spanish)
Netherlands:www.geldnaarhuis.nl
(Dutch)
Norway:www.sendepenger.no
UK:www.sendmoneyhome.organd
www.moneymove.org
MIF. The Multilateral Investment Fund
(MIF) of The Inter-American Development
Bank (IADB) seeks to promote inclusive
growth in Latin America through private
sector development. The MIF recognizes theimpact of remittances on development and
works for making money transfers cheaper
and safer.
DFID.The Department for International
Development (DFID) is an UK Government
Agency for international cooperation. DFID
plays an important role in the field o
remittances.
Inter-American Dialogue. The
Remittances and Development Program of
Inter-American Dialogue seeks to encourage
remittances as a tool for developmentthroughout Latin America and the
Caribbean.
Mondato. Mondato Limited is an Irish-
based, international value transfer portal
that offers a consumer search function to
enable customers to find options for money
transfers that best suit their needs.
RemittanceGateway.org. This website is
meant for those interested in the field of
migration and development. It is specifically
geared towards migrant remittances and
provides news, insights and contributionsfrom leading international experts.
Remittances (continued from page 7)
http://www.iamtn.org/conference-calendarhttp://www.iamtn.org/conference-calendarhttp://www.icbi-events.com/remittances/http://www.icbi-events.com/remittances/http://www.iamtn.org/conference-calendarhttp://www.iamtn.org/conference-calendarhttp://www.icbi-events.com/remittances/http://www.iamtn.org/http://www.iamtn.org/http://www.remesamericas.org/http://www.remesamericas.org/http://www.remesamericas.org/http://www.aiber.es/publicaciones.phphttp://www.aiber.es/publicaciones.phphttp://www.aiber.es/publicaciones.phphttp://www.microlinks.org/ev.php?ID=13069_201&ID2=DO_TOPIChttp://www.microlinks.org/ev.php?ID=13069_201&ID2=DO_TOPIChttp://www.migration4development.org/content/ifad-financing-facility-remittanceshttp://www.migration4development.org/content/ifad-financing-facility-remittanceshttp://www.iamtn.org/http://www.iamtn.org/http://remittanceprices.worldbank.org/http://remittanceprices.worldbank.org/http://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTFINANCIALSECTOR/0,,contentMDK:22378309~menuPK:6681487~pagePK:210058~piPK:210062~theSitePK:282885,00.htmlhttp://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTFINANCIALSECTOR/0,,contentMDK:22378309~menuPK:6681487~pagePK:210058~piPK:210062~theSitePK:282885,00.htmlhttp://www.mandasoldiacasa.it/http://www.mandasoldiacasa.it/http://www.mandasoldiacasa.it/http://www.sendmoneypacific.org/http://www.envoidargent.org/http://www.envoidargent.org/http://www.envoidargent.org/http://www.geldtransfair.de/http://www.geldtransfair.de/http://www.geldtransfair.de/http://www.profeco.gob.mx/envio/envio.asphttp://www.profeco.gob.mx/envio/envio.asphttp://www.geldnaarhuis.nl/http://www.geldnaarhuis.nl/http://www.geldnaarhuis.nl/http://www.sendepenger.no/http://www.sendepenger.no/http://www.sendepenger.no/http://www.sendmoneyhome.org/http://www.sendmoneyhome.org/http://www.sendmoneyhome.org/http://www.moneymove.org/http://www.moneymove.org/http://www.iadb.org/mif/home/index.cfm?language=Englishhttp://www.iadb.org/mif/home/index.cfm?language=Englishhttp://www.dfid.gov.uk/http://www.thedialogue.org/page.cfm?pageID=80http://www.mondato.com/http://www.mondato.com/http://www.remittancesgateway.org/http://www.remittancesgateway.org/http://www.remittancesgateway.org/http://www.mondato.com/http://www.thedialogue.org/page.cfm?pageID=80http://www.dfid.gov.uk/http://www.iadb.org/mif/home/index.cfm?language=Englishhttp://www.moneymove.org/http://www.sendmoneyhome.org/http://www.sendepenger.no/http://www.geldnaarhuis.nl/http://www.profeco.gob.mx/envio/envio.asphttp://www.geldtransfair.de/http://www.envoidargent.org/http://www.sendmoneypacific.org/http://www.mandasoldiacasa.it/http://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTFINANCIALSECTOR/0,,contentMDK:22378309~menuPK:6681487~pagePK:210058~piPK:210062~theSitePK:282885,00.htmlhttp://remittanceprices.worldbank.org/http://www.iamtn.org/http://www.migration4development.org/content/ifad-financing-facility-remittanceshttp://www.microlinks.org/ev.php?ID=13069_201&ID2=DO_TOPIChttp://www.aiber.es/publicaciones.phphttp://www.aiber.es/publicaciones.phphttp://www.remesamericas.org/http://www.remesamericas.org/http://www.iamtn.org/http://www.icbi-events.com/remittances/http://www.iamtn.org/conference-calendarhttp://www.icbi-events.com/remittances/http://www.iamtn.org/conference-calendar8/8/2019 AFNewsletter33 Sept2010 FINAL
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NONBANK FINANCIALINSTITUTIONS (Leasing, HousingFinance, Insurance)
NEWS
IFC Looks at Affordable Housing
Projects in India.IFC is in talks with severalreal estate developers and housing finance
companies to create large, affordable
housing projects in India with the hope of
one of the projects to be developed within
the next six months. Affordable housing has
been tackled in other countries such as
Mexico where 15,000 to 20,000 homes are
being built costing $7,000 to 15,000. In FY09
and GY10, IFCs highest exposure was in
India and will continue to invest
approximately $1 billion per year for the
next two or three years. The HinduBusinessLine, August 23, 2010.
High Cost of Healthcare Pushes Insurers
to Launch Cheaper Covers. The high cost of
health care service in Africa is setting the
stage for the launch of new innovative
products targeting the low-end market,
including Changamka, a micro-health cover
launched by Changamka Micro-Health. The
product allows members to receive
treatment at designated hospitals for a low
cost. Additional microinsurance products
like Bima Ya Jamii encourages savings while
providing risk cover, and Afya Milele which
covers low-income families for in and out-
patient care as well as maternity costs,
doctors fees, daily hospital charges and
prescriptions. Business Daily, September 13,
2010.
Foreign Policy: The Mobile Banking
Revolution. Mobile banking, or m-
banking, in the developing world caused a
large amount of skepticism from financial
insiders. Three years ago M-Pesa was
launched as a mobile-money transfer service
by Sararicom, the Kenyan subsidiary oVodafone. In May, with about 10 million
customers in Kenya, Sararicom partnered
with Equity Bank and began M-Kesho, an
interest-bearing savings account so that
users are able to access mobile
microinsurance and microloan products.
NPR, August 30, 2010.
RECENT PUBLICATIONS
Microfinance Default Rates in Ghana:
Evidence from Individual Liability Credit
Contacts. This paper presents evidence on
the factors that affect default probabilities in
individual-liability credit contracts. The data
is drawn from a for-profit microfinancelender in Ghana, and the sample consists of
nearly 1,000 randomly selected loans
approved between 2002 and 2007, three
quarters of which were repaid. As default is
relatively rare in microfinance, borrowers
who failed to repay their loans were over-
sampled. Impact of demographic, business
and loan characteristics are included on
default odds. It is found that repayment is
affected mainly by the number of
dependents in the household, years in
business, use of proceeds, loan status and
frequency of loan monitoring. By Gerald
Pollio and James Obuobie. Microfinance
Information Exchange, Inc. September 2010.
Financial Access 2010: The State of
Financial Inclusion Through the Crisis.
Financial Access 2010 is the second annual
survey of financial regulators in more than
140 countries by the Consultative Group to
Assist the Poor and The World Bank Group.
The survey found that the number of bank
accounts around the world was growing
even as the volume of loan and deposit
accounts dropped. Sixty-five depositaccounts were added per 1,000 adults in
2009, representing 4.3 percent average
growth in the number of deposit accounts.
The impact of the financial crisis could be
more clearly seen in the use of credit
services, with the number of loans per 1,000
adults broadly unchanged between 2008 and
2009. Consultative Group to Assist the
Poor/The World Bank Group. September
2010.
Doing Business in Pakistan 2010. Doing
Business in Pakistan 2010 is the firstcountry-specific subnational report of the
Doing Business series in Pakistan. The report
builds on the regional Doing Business in
South Asia 2005-7 series, which created
quantitative indicators on business
regulations for six Pakistani cities. Doing
Business in Pakistan 2010 documents
progress in the previously measured cities
and extends the analysis to a total of 13
cities. Doing Business investigates the ways
in which government regulations enhance or
restrain business activity. The cities covered
in Doing Business in Pakistan
2010 were selected jointly with Pakistans
Ministry of Finance. The International Bank
or Reconstruction and Development / TheWorld Bank. 2010.
Insurance in Developing Countries:
Exploring Opportunities in Microinsurance.
The potential market for insurance in
developing countries is estimated to be
between 1.5 and 3bn policies. There is a
significant demand for a range of insurance
products including health and life insurance,
agricultural and property insurance and
catastrophe cover. Microinsurance is
effective in markets with little experience o
insurance but it needs to be efficient,cheap and simple. Llyods. 2010.
UPCOMING EVENTS
Microfinance India Summit 2010.
Organized by ACCESS Development, the
Microfinance India Summit 2010 will host
policy makers, practitioners, promoters,
academics, researchers and thought leaders
on various panels, and about 1,000 delegates
from around the world will participate in the
summit. The theme is Mission o
Microfinance- Need to Reflect and
Reaffirm, and the sessions will focus on
current trends and issues relating to
sustainability, transparency, social
performance, commercialization of the
sector and client protection, among others.
Sub-events will include Microfinance India
Awards which recognize the contribution o
individuals and institutions which have
played transformational roles in helping the
sector grow in India, sponsored thematic
roundtables which will present recent
research findings, innovative and innovate
ideas with select audiences and theKnowledge Fair which will showcase various
products, services and publications on offer
by diverse stakeholders in the sector. New
Delhi, India. November 15-16, 2010.
6th International Microinsurance
Conference. Call for proposals. Hosted by
Munich Re Foundation and the
Microinsurance Network supported by
GTZ/BMZ, the Department of Finance o
PAGE 9ACCESSFINANCE | SEPTEMBER 2010 | ISSUE No. 33
http://www.thehindubusinessline.com/2010/08/23/stories/2010082351830300.htmhttp://www.thehindubusinessline.com/2010/08/23/stories/2010082351830300.htmhttp://www.thehindubusinessline.com/2010/08/23/stories/2010082351830300.htmhttp://www.businessdailyafrica.com/High%20cost%20of%20healthcare%20pushes%20insurers%20to%20launch%20cheaper%20covers/-/539546/1009304/-/rialre/-/http://www.businessdailyafrica.com/High%20cost%20of%20healthcare%20pushes%20insurers%20to%20launch%20cheaper%20covers/-/539546/1009304/-/rialre/-/http://www.businessdailyafrica.com/High%20cost%20of%20healthcare%20pushes%20insurers%20to%20launch%20cheaper%20covers/-/539546/1009304/-/rialre/-/http://www.npr.org/templates/story/story.php?storyId=129525288http://www.npr.org/templates/story/story.php?storyId=129525288http://www.npr.org/templates/story/story.php?storyId=129525288http://www.themix.org/sites/default/files/MBB%2020%20-%20Microfinance%20Default%20Rates%20in%20Ghana.pdfhttp://www.themix.org/sites/default/files/MBB%2020%20-%20Microfinance%20Default%20Rates%20in%20Ghana.pdfhttp://www.themix.org/sites/default/files/MBB%2020%20-%20Microfinance%20Default%20Rates%20in%20Ghana.pdfhttp://www.themix.org/sites/default/files/MBB%2020%20-%20Microfinance%20Default%20Rates%20in%20Ghana.pdfhttp://www.cgap.org/gm/document-1.9.46570/FA_2010_Financial_Access_2010_Rev.pdfhttp://www.cgap.org/gm/document-1.9.46570/FA_2010_Financial_Access_2010_Rev.pdfhttp://www.cgap.org/gm/document-1.9.46570/FA_2010_Financial_Access_2010_Rev.pdfhttp://www.doingbusiness.org/Documents/subnational/DB10-Pakistan.pdfhttp://www.doingbusiness.org/Documents/subnational/DB10-Pakistan.pdfhttp://microfinanceafrica.net/wp-content/uploads/2010/06/Insurance-In-Developing-Countries.pdfhttp://microfinanceafrica.net/wp-content/uploads/2010/06/Insurance-In-Developing-Countries.pdfhttp://microfinanceafrica.net/wp-content/uploads/2010/06/Insurance-In-Developing-Countries.pdfhttp://www.microfinanceindia.org/annual-microfinance-india-summit-2010.phphttp://www.microfinanceindia.org/annual-microfinance-india-summit-2010.phphttp://www.microinsuranceconference.org/2010http://www.microinsuranceconference.org/2010http://www.microinsuranceconference.org/2010http://www.microinsuranceconference.org/2010http://www.microinsuranceconference.org/2010http://www.microfinanceindia.org/annual-microfinance-india-summit-2010.phphttp://microfinanceafrica.net/wp-content/uploads/2010/06/Insurance-In-Developing-Countries.pdfhttp://microfinanceafrica.net/wp-content/uploads/2010/06/Insurance-In-Developing-Countries.pdfhttp://www.doingbusiness.org/Documents/subnational/DB10-Pakistan.pdfhttp://www.cgap.org/gm/document-1.9.46570/FA_2010_Financial_Access_2010_Rev.pdfhttp://www.cgap.org/gm/document-1.9.46570/FA_2010_Financial_Access_2010_Rev.pdfhttp://www.themix.org/sites/default/files/MBB%2020%20-%20Microfinance%20Default%20Rates%20in%20Ghana.pdfhttp://www.themix.org/sites/default/files/MBB%2020%20-%20Microfinance%20Default%20Rates%20in%20Ghana.pdfhttp://www.themix.org/sites/default/files/MBB%2020%20-%20Microfinance%20Default%20Rates%20in%20Ghana.pdfhttp://www.npr.org/templates/story/story.php?storyId=129525288http://www.npr.org/templates/story/story.php?storyId=129525288http://www.businessdailyafrica.com/High%20cost%20of%20healthcare%20pushes%20insurers%20to%20launch%20cheaper%20covers/-/539546/1009304/-/rialre/-/http://www.businessdailyafrica.com/High%20cost%20of%20healthcare%20pushes%20insurers%20to%20launch%20cheaper%20covers/-/539546/1009304/-/rialre/-/http://www.thehindubusinessline.com/2010/08/23/stories/2010082351830300.htmhttp://www.thehindubusinessline.com/2010/08/23/stories/2010082351830300.htm8/8/2019 AFNewsletter33 Sept2010 FINAL
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the Philippines and Georgia State
Universitys Center for the Economic
Analysis of Risk this event will have 500
participants and experts from around the
world to exchange experiences and discussthe challenges of microinsurance. The
conference will have plenary panel
discussions on key topics addressing an
interdisciplinary audience. Parallel working
group sessions will deal in depth with
different subtopics. Interactive sessions o
approximately 90 minutes are a key part of
the conference, facilitating dialogue in small
groups on emerging issues. Manila,
Philippines. November 9-11, 2010.
PAST EVENTS
Frankfurt School of Finance &
Management Summer Academy, Housing
Finance Course. - In cooperation with
Housing Development Finance Corporation,
India this course will provide
comprehensive insight into all core topics of
housing finance. Picking up on the newest
developments and best practices in the
market, it will focus on conveying practical
knowledge and tools for successfully
managing mortgage lending operations and
developing approaches and products that
meet the rising demand for housing finance.Frankfurt, Germany. July 25-30, 2010.
The Euromoney Egypt Housing & Real
Estate Finance Conference: Financing
Egypts Housing Needs Investing in Real
Estate Development. Cairo, Egypt. June 15,
2010.
International Housing Finance Program.
This annual housing finance two-week
program from The Wharton School of the
University of Pennsylvania provides the best
available in-depth review of international
best practices in housing finance. It presentsa variety of tools and helps one to
understand how to use them. The program
is useful for private sector bankers and for
public sector policy makers. Participants
come from private housing finance
institutions, government finance agencies,
academia and international development
agencies from both emerging and advanced
economies. Philadelphia, Pennsylvania. June
7-19, 2010.
4th Global Conference on Housing
Finance in Emerging Markets. World Bank
Groups 4th Global Conference, Global
Housing Finance After the Crisis, Drawing
the Lessons, Taking Stock, and Building the
Future. Agenda and presentations now
online. Washington, DC, May 26-27, 2010.
NEWSLETTERS
Microinsurance Trilogy. This newsletter
is published three times a year by the
Microinsurance Network and is available in
English, Spanish and French.
Microfinance Africa. A newsletter issued
by Microfinance Africa which includes
recent updates in the microfinance sector in
Africa.
The Microinsurance Note Series is
written for USAID by Michael McCord oThe Microinsurance Centre. The
Microinsurance Note Series provides an
accessible, brief introduction to ten major
topics in microinsurance.
InSight. As short, frequent, one-topic
bulletins, InSight is intended to share the
results of ACCION International's work
with the microfinance community as quickly
and efficiently as possible.
Microfinance Focus. Microfinance Focus
is a global magazine on microfinance and
sustainable development. It publishes newsstories, articles and editorials written by
experts who are practicing in the field.
Micro Insurance Voices. This newsletter
highlights the activities of the Micro
Insurance Academy, news and events, new
partnerships, and innovative research, and
among others, features perspectives from
microinsurance experts.
MicroInsurance Times. A newsletter
(currently in pilot phase) from MicroCapital
covering microinsurance briefs, news,
interviews and events.
Prosper. Prosper is the development
activities supplement from ICMIF and
includes articles relating to the area of
development, including microinsurance and
Islamic microinsurance.
Catalyst Newsletter. Published by
Freedom from Hunger, it aims to contribute
to greater awareness of and enthusiasm for
the microfinance and health protection
initiative.
Ventures. A bi-annual production,
Ventures offers reflections on ACCIONs
work, regional news highlights and first-
hand accounts from staff in the
field and individual stories of the working
poor succeeding with the help of
microfinance.
LINKS
PlaNet Finance. This site, available in
English and French, is an international NGO
that aims to alleviate poverty worldwide
through the development of microfinance.
Microfinance Information Exchange.
Also known as The Mix, Microfinance
Information Exchange delivers data services,
analysis, research and business information
on the institutions that provide financial
services to the worlds poor.The Microinsurance Centre. The
Microinsurance Centre is focused on a
partnership model of microinsurance
provision. This site is intended to provide
practical tools to assist in the success of these
relationships between regulated insurers,
and MFOs and banks.
LeapFrog Investments. LeapFrog is the
first microinsurance fund and targets to
strong returns for investors while reaching
25 million vulnerable people in Africa and
Asia with life-changing financial services.IFC invested $20 million in LeapFrog
Financial Inclusion Fund.
Microinsurance Academy. The
Microinsurance Academy, or MIA, is a
project of Sarvajan Unnati Bodhini
Charitable Trust. MIA is a not-for-profit
organization fully dedicated to providing
structured technical assistance in
microinsurance domain-knowledge to
organizations that focus on low-income
communities.
LIBISNet is an international insurancelibrary whose online search feature contains
microinsurance publications from
approximately 30 diffe
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