Reframing Microfinance: Enabling Small Savings and Payments, Everywhere
December 14, 2009
The Commonwealth Heads of Government Meeting, pp. 2-5, November 2009
Microfinance aims to provide financial tools for people to be able to invest in their productive activities and stabilise their expenditures in food, health and education. Micro-credit is one such tool, but not always the most appropriate. Everyone should have the option to use formal, safe savings instruments to save up for such purposes. Savings services must be available close to where poor people live, which requires going beyond bank branches and delivering services securely in neighbourhood shops. Linking savings accounts to electronic payment networks makes the accounts particularly useful for poor people to access their funds, manage their micro-enterprises and support distant relatives.
Number of Pages in PDF File: 4
Keywords: Microfinance, e-Payments, Branchless Banking, Mobile BankingAccepted Paper Series
Date posted: February 15, 2010
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