4. What is a Micro Finance Institution (MFI)?
A Micro Finance Institution (MFI) is an organisation that provides financial services to low income people. These institutions take into account their conditions and possibilities. Staff goes often to their clients places, helps with filling in simple forms, does not ask for physical collateral as much as possible and takes clients very seriously.
About Microfinance
- 1. What is a micro credit?
- 2. What is microfinance?
- 3. Why do poor people not go to a traditional bank?
- 4. What is a Micro Finance Institution (MFI)?
- 5. How high are repayment rates?
- 6. Why is some 75% of the clients female?
- 7. Can poor people save?
- 8. Why do MFIs charge high interest rates?
- 9. Does microfinance reach the poorest people?
- 10. How do poor people benefit from microfinance?
- 11. Is microcredit thé magic cure against poverty?