Microfinance

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Microfinance

Any mode of finance designed to provide low-income individuals with the means to become self-sufficient.  Microfinance institutions issue small loans to those marginalized from normal modes of finance with the intention of helping the poor prosper by allowing them to save or borrow money. See: Microcredit
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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Meyer (2007) Introducing Rural Finance into an Urban Microfinance Institution: The Example of BancoProCredit El Salvador.
When the licence is issued, it will become the third microfinance institution in the country to become a bank, which will allow it to start accepting deposits and so diversify its funding base.
There are more than 300 Islamic microfinance institutions (IMFIs)working in 32 countries of the world but funding has always been a critical issue in the Islamic microfinance industry.
The IFC estimated that by 2012 there were over 30 greenfield microfinance institutions in Africa seeking to expand financial inclusion.
The MicroBuild India Fund will invest in reputable, local microfinance institutions which, in turn, will allow them to offer affordable home improvement loans to low-income families.
Uma October 25, 2010 (JUBA) - Unexplained irregularities and lack of transparency in the management of donor funds intended for microfinance institutions' support could threaten the existence of over 10,000 micro-businesses in Southern Sudan, officials said on Monday.
Grameen-Jameel, a social business that serves the Arabmicrofinance industry, has announced it has facilitated a multi-million dollar credit facilityfor the First Microfinance Institution (FMFI) Syria, part of the Aga Khan Agency for Microfinance (AKAM), to help improve the lives of 2,700 underprivileged Syrians through credit, deposits and other financial services.
The report also revealed that microfinance institution loans reached a total of $5.4 billion at the end of last year while deposits were $2.5 billion.
Opportunity International will remain a 20 percent shareholder in the DRC microfinance institution and retain one board seat.
The microfinance institution is the only in Tunisia that is non-governmental and managed by internationally recognized best practices.
'I think, eventually, more and more microfinance institutions will succeed in meeting the standard set by the NBC.'