The Many Faces of Microfinance
Friday, July 24, 2009
Authored by Jason Kaye
As the microfinance industry grows on both a domestic and an international scale, the forms and functions of microfinance institutions (MFIs) worldwide are evolving. There is a growing effort on the part of MFIs and academics to specifically define microfinance. As MFIs adapt to better address the diverse financial needs of the global unbanked, this becomes increasingly difficult. It is clear that microfinance – simply a term for small-scale financial services generally provided for low-income individuals – comes in many shapes and sizes.
