What Are Micro Finance Institutes And What Are Their Benefits?
What are Micro Finance Institutes and what are their benefits?
On 18 November 2004 the United Nations launched the International Year of Microcredit, as part of an effort to build support for making financial services more accessible to poor and low-income people. The aim of this essay is to outline what a Micro Finance Institute is and who its customers are. It will then go on to explore how they serve the customer and how the Micro Finance Institute benefits its customers. Theses are benefits such as aiding the movement of many out of poverty and empowering women.
Micro Finance Institutes (MFIs) are organizations that offer financial services to the poor and financially vulnerable that come from lesser-developed economies. The term micro finance institution has come to refer to a wide range of organizations dedicated to providing these services. These are institutions or organisations such as NGOs, credit unions, cooperatives, private commercial banks and non-bank......
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Approximate Word Count: 2788
Approximate Pages: 12 (250 words per double-spaced page)
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