Welcome To Bangiya Gramin Bikash Microfinance
|
On behalf of Bangiya Gramin Bikash Microfinance, we want to welcome
you to our team, and thank you for joining us.
Microfinance is a general term to describe financial services to low-income individuals
or to those who do not have access to typical banking services.
|
Microfinance is also the idea that low-income individuals are capable of lifting
themselves out of poverty if given access to financial services. While some studies
indicate that microfinance can play a role in the battle against poverty, it is
also recognized that is not always the appropriate method, and that it should never
be seen as the only tool for ending poverty.
A type of banking service that is provided to unemployed or low-income individuals
or groups who would otherwise have no other means of gaining financial services.
Ultimately, the goal of microfinance is to give low income people an opportunity
to become self-sufficient by providing a means of saving money, borrowing money
and insurance.
Microfinancing is not a new concept. Small microcredit operations have existed since
the mid 1700s. Although most modern microfinance institutions operate in developing
countries, the rate of payment default for loans is surprisingly low - more than
90% of loans are repaid.
Microfinance is a source of financial services for entrepreneurs and small businesses
lacking access to banking and related services.