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Microfinance lending technologies and their impact on the sustainability of financial institutions: A comparative review of crit
Finance & Accounting
Pages 12 (3012 words)
Microfinance lending technologies and their impact on the sustainability of financial institutions: A comparative review of critical issues Introduction Making finance available or Lending to poor and low income group has been the greatest challenge to the developing and underdeveloped countries throughout the world.
Muhammed Yunus and the Grameen Bank, [Bangladesh]”. (Hasan, Hassan & Uddin, 2009, p. 318) Though primarily aims to provide finance to the poorer sections of the society, the people belonging to unorganized sector, especially self-employed or unsalaried without any collateral, the concept of microfinance is not limited to lending, and covers wide range of financial services needed for the development of the communities. The paper discusses about the corporate governance, the objectives microfinance institutions, theoretical background, critical success factors (CSF), future of MFIs per se and with reference to its implications on the development of the society and sustainability. Therefore, it is essential to view microfinance from social angle as well, rather than business angle alone in the interest of a sound and balanced growth of the society for making microfinance as the powerhouse for social development. Objectives of Microfinance Institutions (MFIs) Poverty alleviation is the primary objective of the developmental policy of microfinance through financial inclusion of the people who do not have access to financial institutions. However, sustainability factor is important for the success of the MFIs in the long run. Sustainable MFIs can expand to cover more areas and people. ...
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