News

Mohammad Bin Rashid Fund Partners With Metis Consultancy To Support SMEs

The Mohammed Bin Rashid Fund (MBRF), a fund established by H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai to finance the UAE's youth and SME projects, has now set up a post-fund monitoring service for its portfolio companies.

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News

Kenya’s biggest bank by customer numbers, Equity Bank, has closed 11 ATM lobbies, each of which had multiple cash dispensing machines. This is the lender’s effort to shift customers to alternative channels such as agency and mobile banking in a fresh cost-cutting strategy. Equity’s chief executive James Mwangi said ATMs require upfront capital...
Xero Goes Live with Capital One Credit Card Feed
Capital One, a major U.S. bank has partnered with Xero’s cloud accounting platform. The deal to allow Capital One’s credit card feed was signed in May, and went live last week. The goal for the partnership is to expand Xero’s presence with smaller banks and penetrate the smaller local markets, according to Ryan Himmel, financial partnerships lead...
Member News: Ripple Unveils Expanded Suite of Offerings
SME Finance Forum member Ripple has unveiled a new name for its global payments network and new solutions. RippleNet, the global payments network, has more than 90 customers and is undergoing more than 75 commercial deployments. The network’s digital asset, XRP, was listed by five new exchanges in the second quarter of this year, which resulted in...
EBRD Launches Women in Business Programme in Tajikistan
The EBRD’s Women in Business programme is expanding into Tajikistan, making it the 17th country to benefit from improved financing and business advice for female entrepreneurs. The Bank has allocated US $10 million to the Women in Business programme in Tajikistan. As well as access to finance, the award-winning programme will help women access the...
EIB, Banco Sabadell Sign Agreements To Help Finance Spanish SMEs
The European Investment Bank (EIB) and Banco Sabadell will provide EUR 800m to Spanish SMEs with the aim of supporting their investments and promoting the development of new projects, particularly in the services and industrial sectors. The EIB will grant a EUR 400m loan to Banco Sabadell, to which the Spanish bank will add an additional EUR 400m...
Rejection Rates For Irish SME Bank Credit Rise Despite Jump Of 32pc In Overall Lending
Ireland SMEs in manufacturing and the wholesale and retail sectors are experiencing strong growth with new lending in Q1 2017 reaching €3.6bn. However, the rejection rate on bank finance applications has increased from 11pc to 13pc over the year to March 2017, with rates for medium-sized firms continuing to drop but small and micro firms...
EUR 820 Million for SMEs as EIF and ProCredit Double Support
The European Investment Fund (EIF) and ProCredit Group are providing an additional EUR 450 million to innovative small and medium-sized companies (SMEs). This brings a total of EUR 820 million to companies in eleven countries. The EIF-backed financing is now available through ProCredit banks and targets companies using new technologies and...
Member News: IDLC Offers Innovative Products for Small Investors
SME Finance Forum member, IDLC Finance Ltd., has launched its first open end mutual fund named IDLC Balanced Fund. IDLC plan is to offer 10 innovative products such as venture capital and private equity and a similar one for small investors. IDLC Balanced Fund offers fund management through skilled Fund Managers mitigating investment risk...
People's Bank of China Calls Upon Fintech for Transaction Monitoring
The People’s Bank of China wants fintech firms to pitch in on a government-controlled monitoring system to watch over financial transactions on the internet. Sun Gouofeng, director of general of the Bank’s research institute says it is unfair for taxpayers’ money to cover the costs arising from heightened regulation on fintech businesses. Making...
Starbucks, USAID to Support Young, Women Coffee Farmers in Colombia
Skills training and technological tools will be provided to 1,000 young coffee farmers in areas of Colombia that were previously affected by conflict. The initiative was launched in partnership Starbucks and the United States Agency for International Development (USAID). This is one part of a range of measures which the coffee chain says forms...