Posts Tagged ‘standard chartered’
Posted on November 12, 2008 - by James
USAID, Standard Chartered partner on economic growth in Africa
The U.S. Agency for International Development (USAID) and Standard Chartered Bank today announced today that they have signed a Memorandum of Understanding (“MOU”) designed to support the increased availability of financial services in sub-Saharan Africa and to encourage sustainable economic growth there. The goals of the parties under the MOU are to:
- promote the development of the financial sector, increase trade, and encourage local financial institutions and enterprises in sub-Saharan Africa.
- execute partial credit guarantees that focus on sectors that further economic growth, including microfinance institutions, micro- and other local enterprises, agribusiness entities and project and infrastructure-based transactions.
- provide technical assistance to financial institutions in Africa and co-host seminars, workshops and conferences for African enterprises.
Posted on November 3, 2008 - by James
Citi Taps Rural Market in China
Citigroup Inc, the largest US bank, said yesterday that China’s banking watchdog has approved its plan to open two microcredit firms in Hubei province, tapping the nation’s vast rural market.
Citigroup, the first overseas lender allowed to establish such institutions in the country, plans to set up the two firms in Gong’an county and the city of Chibi, which are scheduled to open in the next few months.
The move comes as major rivals including HSBC and Standard Chartered are opening rural outlets in order to expand in the nation’s underdeveloped regions and the government is relaxing controls on private financing to support thousands of small and cash-strapped manufacturers… [click here to read the rest of this article...]
Posted on September 22, 2008 - by James
Uganda: Credit Bureau Pilot Phase Includes Standard Chartered, Barclays, Three Microfinance Institutions…
THE pilot phase of the Credit Reference Bureau (CRB) has kicked off in five financial institutions.
“The testing is being conducted in branches of participating institutions around Kampala namely; Barclays, Centenary Bank, Standard Chartered, Uganda Microfinance and Pride Microfinance,” Agnes Kamya Kijjambu, the acting director for non-bank financial institutions, said.
She told a press briefing that all borrowers would be required to get a financial card, which would have their photos, unique numbers and fingerprints for easy identification… [click here for the rest of this article...]
