FINCA Impact Finance is using Fintech innovation to expand financial inclusion in Pakistan, a country where only 21% of adults have a formal bank account. In 2017, FINCA Pakistan launched SimSim, a free mobile e-wallet that already has more than 170,000 users.
Deetken Impact will provide a USD 1 million loan to FINCA Haiti SA for on-lending to individual, micro, small- and medium-sized businesses. The funds will support FINCA Haiti SA to grow its network of branches and digital financial services, including gender-sensitive financial products.
FINCA Impact Finance is using Fintech innovation to break down barriers to financial inclusion—at the same time, it’s ensuring those technologies deliver impactful and responsible financial services to empower entrepreneurs and communities across the globe.
FINCA Microfinance Bank Limited announced a strategic partnership with Karandaaz Pakistan to expand responsible finance by enhancing delivery of digital financial services. The partnership will target women entrepreneurs engaged in micro and small-business activities.
The Grameen Crédit Agricole Foundation will provide a USD 2 million loan to FINCA Microfinance Company Jordan (FINCA Jordan), a FINCA Impact Finance subsidiary, for on-lending to individual, micro, small and medium-sized businesses.
FINCA Impact Finance recognizes intentional action is needed to close the global gender gap. On International Women’s Day, FINCA Kosovo launched its new business loan for women.
In a new article, “The Future of Responsible Financial Services”, FINCA Impact Finance Vice President and CFO Roman Hingorani discusses the company’s innovative strategy for delivering a double bottom line of social impact and financial sustainability.
FINCA Malawi and KfW signed a USD 3.4 million debt facility. FINCA Malawi will use the facility to digitize and broaden its financial products and services.
FINCA Kosovo received Smart Certification in 2016 and now provides responsible banking services to nearly 18,000 customers in Kosovo.
The Women20 for the G20 report provides recommendations for closing the economic gender gap in the Asia-Pacific region.
On December 20, 2017, FINCA Jordan received a microfinance license from the Central Bank of Jordan. It becomes the first microfinance institution to be fully licensed and regulated by the Central Bank under licensing requirements introduced in April 2016.