The latest sector report by the Central Bank shows the bad loan book for
micro lenders grew to Sh9.
Each of the new
micro lenders received a licence and is being supervised by the OJK.
com, a firm that partners with crowdfunding portals, crowdlending portals, banks,
micro lenders and community based organizations to empower entrepreneurs and business owners to fill their funding gap.
Grameen Bank has shown the way to the
micro lenders to successfully operate in a male dominated society.
While
micro lenders in India hardly received any funding to boost their business needs, the trend is changing as local corporations and institutional investors are looking to invest in the firms after they were issued licenses by the Indian central bank.
Kim Vada, director general of banking supervision at the National Bank of Cambodia, welcomed the new entrant to the microfinance market, stressing this vital role
micro lenders play in rural areas.
The Reserve Bank of India has shortlisted 10
micro lenders to set up small banks to advance loans primarily to the unbanked, small businesses and farmers, micro and small industries and unorganized sector entities which do not have access to finance from the larger banks.
Opening the door to
micro lenders focused on rural and semi-urban areas is widely viewed as a move to encourage financial inclusion of a large unbanked segment while mobilising rural savings and making them available for local investments.
Shiimi said when people borrow money from financial institutions, including
micro lenders, they should at least use this money for productive purposes such as investing in assets that will yield results that are beneficial to the economy and their financial positions.
With our web-based solution being used by
micro lenders worldwide, we now want to target those who do not have access to stable Internet connectivity or have to work completely off line," Technical Director Sergey Fomin was quoted as saying.
EoACA[pounds sterling]As government, we are equally concerned about 'fly-by-night'
micro lenders whose activities have left many Batswana in a state of poverty and indebtedness.
Credit unions and
micro lenders tend to be more willing to fund nontraditional businesses, Arora said.
