What is Financial Inclusion?

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Microfinance > Best Practices > What is Financial Inclusion?

What is Financial Inclusion?
Jaap de Jonge, Editor, Netherlands
As explained above, microfinance was an initial, PRIVATE effort pioneered by Muhammad Yunus to reduce poverty by giving impoverished entrepreneurs access to microcredits and other financial products and services. In 1976 Yunus started the Grameen Bank in Bangladesh. In 2006 the Grameen Bank and its founder Yunus were awarded the Nobel Peace Prize. However, according to the United Nations (UN), three billion people around the world still do not have access to formal financial services like savings accounts, credit, insurance, and payment services. More than half the population in developing countries and more than 80 percent of households in most of Africa are financially excluded. On 29 December 2003, Former UN Secretary-General Kofi Annan said: ”The stark reality is that most poor people in the world still lack access to sustainable financial services, whether it is savings, credit or insurance. Financial Inclusion (FI) (from ±2004) is an economic POLICY of various governments and (...) Read more? Sign up for free

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Microfinance
Summary
Forum
🔥PROs and CONs of Microfinance: An Overview
Problems with Microfinance: Beneficiaries Lack Financial Expertise
Microfinance Types: Group and Individual Lending
Best Practices
What is Financial Inclusion?
🥈Accreditation in Microfinance / Financial Inclusion
🥉Disadvantages of Microfinance / Microloans. Risks
What is Poverty Reduction in Development Economics?
History of Microfinance
Microfinance Counseling is Necessary
Middle Class is Key for Improving Quality of Life
Micro Financing Helps
Using Post Offices Towards Microfinancing
Micro Finance is for Business People
Recent Microfinance Trends
Micro Finance for Persons with Disabilities
Is Microfinance a Success?
Microfinance & Microcredit Need Kind-hearted People
Microfinance Needs Trust
During its Evolutionary Path, Microfinance is Getting More Expensive...
Microfinance Impact on Rural Development
Microfinance for Housing (MFH)
Microfinance Research and Intelligence
Non-interest Banking
Taxation of Microfinance Institutions
Influence of Economic Crisis on Microfinance
Management and Business Coaches Needed in Microfinance
Microfinance Challenge: Solvency of the Borrowers
Exclusion of Conventional Commercial Banks from Establishing Micro-finance Banks
What is the Best Way to Manage Microfinance in Sudan?


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