Case study: Al Amana of Morocco

Purpose – The United Nations General Assembly adopted 2005 as the Year of Microcredit, recognizing the link between inclusive financial systems and the economic development of those most at need. Microcredit, or more broadly microfinance (MF) has a role to play in facilitating growth through the provision of credit to entrepreneurs. Association Al Amana for the Promotion of Micro-Enterprises Morocco (Al Amana) is an unusually successful microfinance institution (MFI) registered as a non-profit organization in Morocco. Starting in 1997, with capital provided by USAID, it has grown to become the leading MFI within Morocco and the broader Middle East and North Africa (MENA) region. It has seen rapid growth in clients and assets while also reaching a level of financial sustainability uncommon among MFIs. Why has Al Amana been so successful? This paper will seek to examine this question, highlighting key internal and external factors that have contributed to this organization's success. Design/methodology/approach – Further, this analysis will examine Al Amana within its regional enabling environment to highlight those critical issues within an entrepreneurial finance climate that are conducive to MF lending. Additional analysis of Al Amana includes a review of their portfolio, key financial indicators, and other bank strategies that have been instrumental in their financial growth and success. Lastly, the analysis will conclude with a discussion of the key factors that will become important to the sustainability and growth of this MFI as it serves the needs of entrepreneurs in Morocco. The methodology for the research consisted of a literature review of MFI activity in Morocco and the MENA region, an examination of key elements within the enabling environment, and a financial review of Al Amana and its key financial results. Findings – The results of the research provide a case study of a successful MFI that is contributing to the development of entrepreneurs in its region. It will also highlight the specific organizational factors as well as key elements in the enabling environment that have facilitated the success of Al Amana. Originality/value – The paper highlights the success of Al Amana in Morocco and presents some of the challenges facing the organization.Credit, Entrepreneurs, Morocco, Non-profit organizations

Destructive and non-destructive density determination: method comparison and evaluation from the Laguna Potrok Aike sedimentary record

Density measurements play a central role in the characterization of sediment profiles. When working with long records (>100 m), such as those routinely obtained within the frame of the International Continental Scientific Drilling Program, several methods can be used, all of them varying in resolution, time-cost efficiency and source of errors within the measurements. This paper compares two relatively new non- destructive densitometric methods, CT-Scanning and the coherent/incoherent ratio from an Itrax XRF core Scanner, to data acquired from a Multi-sensor core logger Gamma Ray Attenuation Porosity Evaluator (MSCL Grape) and discrete measurements of dry bulk density, wet bulk density and water content. Quality assessment of density measurements is performed at low and high resolution along the Laguna Potrok Aike (LPA) composite sequence. Giving its resolution (0.4 mm in our study), its high signal to noise ratio, we conclude that CT-Scan provides a precise, fast and cost-efficient way to determine density variation of long sedimentary record. Although more noisy that the CT-Scan measurements, coherent/incoherent ratio from the XRF core scanner also provides a high-resolution, reliable continuous measure of density vari- ability of the sediment profile. The MSCL Grape density measurements provide actual density data and have the significant advantage to be completely non-destructive since the acquisition is performed on full cores prior to opening. However, the quality MSCL Grape density measurements can potentially be reduced by the presence of voids within the sediment core tubes and the dry and bulk density measurements suffers from sampling challenges and are time-consuming

Age-depth relation, radiocarbon ages and tephra geochemistry of core 5022-2CP from Laguna Potrok Aike, southern Patagonia

The 106 m long composite profile from site 2 of ICDP expedition 5022 (PASADO) at Laguna Potrok Aike documents a distinct change in sedimentation patterns from pelagic sediments at the top to dominating mass movement deposits at its base. The main lithological units correspond to the Holocene, to the Lateglacial and to the last glacial period and can be interpreted as the result of distinct environmental variations. Overflow conditions might have been achieved during the last glacial period, while signs of desiccation are absent in the studied sediment record. Altogether, 58 radiocarbon dates were used to establish a consistent age-depth model by applying the mixed-effect regression procedure which results in a basal age of 51.2 cal. ka BP. Radiocarbon dates show a considerable increase in scatter with depth which is related to the high amount of reworking. Validation of the obtained chronology was achieved with geomagnetic relative paleointensity data and tephra correlation

On Cartan matrices with two parameters (Cohomology theory of finite groups and related topics)

A major cause of the paucity of new starting points for drug discovery is the lack of interaction between academia and industry. Much of the global resource in biology is present in universities, whereas the focus of medicinal chemistry is still largely within industry. Open source drug discovery, with sharing of information, is clearly a first step towards overcoming this gap. But the interface could especially be bridged through a scale-up of open sharing of physical compounds, which would accelerate the finding of new starting points for drug discovery. The Medicines for Malaria Venture Malaria Box is a collection of over 400 compounds representing families of structures identified in phenotypic screens of pharmaceutical and academic libraries against the Plasmodium falciparum malaria parasite. The set has now been distributed to almost 200 research groups globally in the last two years, with the only stipulation that information from the screens is deposited in the public domain. This paper reports for the first time on 236 screens that have been carried out against the Malaria Box and compares these results with 55 assays that were previously published, in a format that allows a meta-analysis of the combined dataset. The combined biochemical and cellular assays presented here suggest mechanisms of action for 135 (34%) of the compounds active in killing multiple life-cycle stages of the malaria parasite, including asexual blood, liver, gametocyte, gametes and insect ookinete stages. In addition, many compounds demonstrated activity against other pathogens, showing hits in assays with 16 protozoa, 7 helminths, 9 bacterial and mycobacterial species, the dengue fever mosquito vector, and the NCI60 human cancer cell line panel of 60 human tumor cell lines. Toxicological, pharmacokinetic and metabolic properties were collected on all the compounds, assisting in the selection of the most promising candidates for murine proof-of-concept experiments and medicinal chemistry programs. The data for all of these assays are presented and analyzed to show how outstanding leads for many indications can be selected. These results reveal the immense potential for translating the dispersed expertise in biological assays involving human pathogens into drug discovery starting points, by providing open access to new families of molecules, and emphasize how a small additional investment made to help acquire and distribute compounds, and sharing the data, can catalyze drug discovery for dozens of different indications. Another lesson is that when multiple screens from different groups are run on the same library, results can be integrated quickly to select the most valuable starting points for subsequent medicinal chemistry efforts