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General Accounting Discussions: Mirco-Finance

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  1.  
    • CommentAuthorDilawar
    • CommentTimeMay 27th 2007
     
    What is mircofinance? types of microfinance?
    Areas for microfinance?


    thank
    • CommentAuthorMA_UK
    • CommentTimeMay 27th 2007
     
    What is Microfinance?
    Microfinance is the provision of a broad range of financial services such as
    deposits
    loans
    payment services
    money transfers
    insurance to poor and low-income households and their microenterprises

    Types of Sources of Microfinance

    *formal institutions - i.e. rural banks and cooperatives
    *semiformal institutions - i.e. nongovernment organizations
    *informal sources - i.e. money lenders and shopkeepers
    Institutional microfinance includes microfinance services provided by both formal and semiformal institutions. Microfinance institutions are institutions whose major business is the provision of microfinance services.
  3.  
    Micr0-finance is the the provision of financial services to low-income clients, including consumers and the self-employed, who traditionally lack access to banking and related services.
    and the types has mentioned nicely by MA-UK!

    Have a good day!

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