Extreme Microfinance: Savings Groups on the Financial Frontier

ISBN-10
1565493052
ISBN-13
9781565493056
Category
Microfinance
Pages
272
Language
English
Published
2011-12-01
Publisher
Kum
Author
Kim Wilson

Description

Microfinance reaches a slim fraction of people living at the base of the economic pyramid and where it does reach them, services are often clumsy and irrelevant. In many cases, microcredit has merely replaced the high interest rates of moneylenders with slightly lower rates and more rigid demands on lenders’ time. Yet families continue to survive by means of elegant homespun methods: they hide money, wear money, bury money, hand it to neighbors, or convert it to gold, bricks and cattle. They borrow it from friends, neighbors and moneylenders. While these strategies brim with creativity, in the end, they keep families in perpetual debt. Savings groups have recently surfaced as a potent competitor to both microcredit and the moneylender. In savings groups, women make regular deposits into a group fund, and then borrow from that fund. Savings groups represent an organized market for financial services and serve as a powerful catalyst for other kinds of social development. This book examines the formation and impact of savings groups, their limits and flaws, and their economic and social potential. With case studies from around the world, Extreme Microfinancereveals a financial landscape filled with alternatives to predatory and ineffective lending systems.

Similar books

  • Attacking Extreme Poverty: Learning from the Experience of the International Movement ATD Fourth World
    By Quentin Wodon

    this book...gives us a history lesson and a guide on how to build commercial finance that fits the needs of the world's poorest majority.

  • Beyond Ending Poverty: The Dynamics of Microfinance in Bangladesh
    By Shahidur R. Khandker, Hussain A. Samad, M.A. Baqui Khalily

    This book using household long panel survey of 1991/92-2010/11 from Bangladesh addresses some of criticisms—including whether pushing microfinance has made it redundant as a tool for poverty reduction—while investigating whether it ...

  • Microfinance, Rights and Global Justice
    By Luis Cabrera, Tom Sorell

    microcredit is not necessarily an effective or morally proportionate way of alleviating extreme poverty; and human rights duty-bearers recognized by international human rights law and emerging policy do not include most existing ...

  • The Monfort Plan: The New Architecture of Capitalism
    By Jaime Pozuelo-Monfort

    Page by page, this book: Walks you through the technicalities of the new architecture of capitalism in a straightforward manner Provides a holistic view of how innovation in microfinance and financing for development combined with the right ...

  • The Synergy of Microfinance: Fighting Poverty by Moving beyond Credit
    By Binod B. Nayak

    Given the diminished expectations on microcredit impact, the book highlights results from randomized control trial (RCT)-based studies around the world.

  • Why Doesn't Microfinance Work?: The Destructive Rise of Local Neoliberalism
    By Milford Bateman

    It is beloved of rock stars, movie stars, royalty, high-profile politicians and ‘troubleshooting’ economists. In this provocative and controversial analysis, Milford Bateman reveals that microfinance doesn’t actually work.

  • Microfinance, Rights and Global Justice
    By Luis Cabrera, Tom Sorell

    Exploring how far microfinance can or should be situated within broader concerns about justice, this volume sheds light on ethical issues that have so far received little systematic attention, and it advances discussion on new human rights, ...

  • Introduction to Microfinance
    By Todd A Watkins

    The initial pilot program in 2010 with one branch in Jordan proved so popular and effective that Microfund for Women rolled it out nationwide by 2012. The positive experience in Jordan notwithstanding, focused hospitalization coverage ...

  • Microfinance: an Economic Analysis of Banking to the Poor
    By Samuel Wahlen

    In this book, youll learn why: Foreign aid to developing countries weakens democratic institutions and empowers leaders to make bad policy decisions.

  • Micro-Financing and the Economic Health of a Nation
    By Bensson V Samuel MD PhD DBA CHCQM

    Micro-financing and the Economic Health of a Nation can be used by students in economics, public policy, and development studies. This volume offers a reasoned, moderate voice on the virtues and problems of microfinance.