commercialization at which the microfinance industry is standing (Emily, 2005). Micro financing is not successful everywhere but only in some of the regions. In Latin America and Asia the microfinance providers have been the world leaders, and build the significant microfinance industries in Bangladesh, Indonesia and Bolivia with the help of their achievements (see Kieran, 2004). Today, commercial banks are recent applicants to the micro finance industry. In Pakistan, khushhali Bank is a well known established
development with exclusion cannot achieve social justice. The Growth strategies cannot succeed without the commitment to equality of opportunity, giving everyone a fair chance to enjoy the fruits of growth. The concept ‘Inclusive Growth’ gained much importance as the solution to problem of financial exclusion. Eleventh five year plan (2007-2012) advocates for inclusive growth. This is to reduce poverty and other disparities and raise economic growth. Inclusive growth can be achieved by focusing on expanding
EFFECTS OF MICRO FINANCE SERVICES ON THE GROWTH OF MEDIUM AND SMALL ENTERPRISES CHAPTER ONE 1.0 INTRODUCTION 1.1Background of the study Promotion of MSE sector in Kenya is a viable and dynamic strategy for attaining the national goals which includes employment creation, balanced development between sector and sub sectors and poverty alleviation.This sector have been the means through which accelerated growth and rapid industrialization have been achieved.Koech(2011)
Rajaram Dasupta,(2001), Free and fair discussion removes the element of subjectivity fromthe decisionmaking process, makes the borrower understand the value of the credit and the importance of payment and accountability to the Self Help Group. Self Help Groups improve the opportunity for investment by the poor simultaneously, the poor will improve their savings potential credit-handling capacity and access to financial institutions inculcate entrepreneurial skill development and urge for investment
NABARD has defined micro finance as follows: “Micro finance is all about provision of thrift, credit and other financial services and products of very small amount to the poor in rural, semi urban and urban areas for enabling them to raise their standard of living.” UN declared the year 2005 as year of micro credit since the policy makers of UN supported the view that micro finance is an instrument to fight against poverty. According to Nobel Committee, micro finance can help the people to break
Therefore, the introduction of Ar-Rahnu as micro credit instrument is the most appropriate mechanism to meet the demands of lower and middle income group to meet their urgent need and daily needs. In additional, it also provides capital to small and medium businesses to finance their rolling capital. Abd. Ghafar and Nur Azura (2005) stated that the importance of pawnshop as a credit resource in Malaysia financial market is difficult to estimate because
Introduction “If you are uplifting the poor, you are uplifting the nation”- M.K.Gandhi This statement clearly explains the essence of microfinance and its importance in the modern economy. Microfinance is a source of financial services and resources to the small entrepreneurs, villagers and less privileged section of the society. In December 2007, Forbes has brought out a special magazine on microfinance and has described microfinance as the next buzzword. Global Context and History The concept of
involvement for the banks because in this way banks can search for direction to develop their services quality in order to keep their customers and request aggressive advantage by getting more loyal customers. 1.1 PROBLEM STATEMENT Keeping in view the importance of service quality and customer satisfaction, a study is considered to observe the shock of service quality as a self-determining variable on dependent variable i.e. Customer’s satisfaction 1.2 OBJECTIVE OF THE STUDY The objectives of research
Typically, these are small value loans to farmers for agriculture and allied activities, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker sections. PSL is an important financial policy aiming to restore the balance within different sectors of the economy and aid the development of the weaker, employment-intensive sectors such as agriculture and micro or small scale enterprises by channelizing credit and facilitating inclusive economic
such a venture hence the need for loans, though the repayment period is long term. (http//finance urban housing.mht) Many African countries despite having recognized the economic and social importance of housing finance, it often remains undeveloped. The low levels of lending reflected depict that small numbers of individuals can afford it due to the high cost of housing compared to the income earned. (UN habitat, 2003) Therefore the role that a financial system plays in an economy is to channel