Hong Kong Fintech Unicorn WeLab Raises $240M to Buy Indonesian Bank
With this move, WeLab is planning to launch a digital bank to capture the country’s enormous unbanked population.
Indonesian Financial Services Authority Enacts Consumer and Public Protection Regulation in the Financial Services Sector
The enactment of the new regulation could majorly update the the Indonesian Financial Services Authority's stated goal of maintaining a stable and transparent financial sector while protecting consumers and society.
Mastercard Commits to Delivering Economic Empowerment Tools and Resources to More Than One Million Women in Guatemala, El Salvador and Honduras
The commitments are part of Mastercard’s engagement, as a founding member, in the Partnership for Central America.
COVID-19 Puts Focus on Social Responsibility in Asia Pacific
The coronavirus pandemic has magnified and exposed social imbalances in the region – underscoring the importance of financial inclusion as well as environmental, social and corporate governance.
Facebook, Three Fintech Firms in Talks to Launch Mobile Payments Service in Indonesia
If approved by country’s financial regulator, it would be among the first such service under the social media giant’s Facebook Pay application.
Fintech Firms Offer To Help Disburse Government COVID-19 Funds
The Indonesian Fintech Lenders Association has offered to help accelerate the disbursement of national economic recovery program funds as the government struggles to amass the data needed to deliver the money to the right places.
IFC Supports Banco Agromercantil, BAM to Expand Financing for SMEs Affected by COVID-19, Helping Economic Recovery in Guatemala
More than 1000 micro, small, and medium enterprises (MSMEs) in Guatemala will have improved access to finance, as a result of a partnership between IFC and Banco Agromercantil.
$500 Million ADB Loan to Expand Financial Inclusion in Indonesia
Financial inclusion will play an important role in Indonesia’s recovery from the coronavirus disease (COVID-19) pandemic.
Digitalization Key to Helping Micro-Retailers Grow Share of Indonesia's $80 Billion FMCG Market
IFC invested $5 million in equity to finance AwanTunai with the goal to bolster growth opportunities for micro-retailers -- many of them women – who are part of an industry made up of some 30,000 wholesalers and three million merchants.
IFC Partners With Banco G&T Continental in Guatemala to Launch Its Climate Finance Business, Expand SME and Housing Finance
The $80 million-dollar funding will help G&T launch its climate finance business, a first in the country, focusing on financing green buildings and green housing projects.