CHAPTER ONE INTRODUCTION 1.1 Background to the Study Since Nigeria attained independence in 1960‚ considerable efforts have been directed towards industrial development. The initial efforts were government-led through the vehicle of large industry‚ but lately‚ emphasis has shifted to Small and Medium Scale Enterprises (SMEs) following the lessons learnt from the success of SMEs in the economic growth of Asian countries (Ojo‚ 2003). Thus‚ the recent industrial development drive in Nigeria has
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book: Banker to the poor: Micro-lending and the battle against world poverty‚ by Yunus Muhammad. "What challenges did Yunus overcome to develop microfinance?" The data on the starvation and poverty issues pushed the economist Muhammad Yunus to invent another type of finance‚ called microfinance (micro credit) based on the experiments‚ studies and reports of the farmers‚ he went to local villages to "learn from the poor" and find out what they actually needed to develop
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Bibliography: 1. Hossain‚ Mahabub (1988): “Credit for the Alleviation of Rural Poverty: The Grameen Bank in Bangladesh.” Washington‚ D.C.: IFPRI‚ Research Report No. 65. 2. Morduch‚ Jonathan and Barbara Haley (2001): “Analysis of the Effects of Microfinance on Poverty Reduction.” NYU working paper. http://www.nyu.edu/wagner/public_html/cgi-bin/workingPapers/wp1014.pdf 4. Yunus‚ Muhammad. Creating a World Without Poverty. 1st. New York: Public Affairs‚ 2007. 5. Brue‚ Stanley L. The Evolution of
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J.‚ Rahman‚ M. W. & Wang‚ X. (2012). The Synthesis of Grameen Bank‚ ‚ BRAC and ASA Microfinance Approaches in Bangladesh‚ World Applied Sciences Journal‚ 20(7)‚ 1055-1062‚ doi: 10.5829/idosi.wasj.2012.20.07.1558 Ahmmed‚ M Kono‚ H. & Takahashi‚ K. (2010). Microfinance Revolution: Its Effects‚ Innovations‚ and Challenges. The Developing Economics‚ 48‚ 15-73. Nabi‚ M Zaman‚ H. (2004 May). Microfinance in Bangladesh: Growth‚ Achievements‚ and Lessons‚ Center for World bank website: http://info
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RETAIL ASSETS (USD bn) | |FY2003 |FY2004 |FY2005 | |Outstandings |153 |217 |298 | |Disbursements |18 |22 |29 | Source: Economic Times • The retail loan market
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an online microfinance nonprofit‚ stepped into her car after a long day of meetings and media appearances. It was an exciting and busy time. Kiva was growing exponentially and receiving an unprecedented degree of positive press and user feedback. In the midst of the whirlwind‚ Flannery appreciated having a few minutes of downtime to reflect on how far her organization had come‚ as well as how to best shape it for continued success and impact. GLOBAL MICROFINANCE1 Microfinance is the supply
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in popularity around the world. In the 1980 ’s Muhammad Yunus and the Grameen Bank in Bangladesh really put microfinancing on the map with the work that they did. In 2006 Mr. Yunus actually won a Nobel Peace prize for his outstanding work with microfinance. (NYTimes). Microfinancing helps out a lot of people in developing countries and that will help them get out of poverty. Microfinancing is the practice of extending small loans to individual borrowers who have traditionally lacked access to credit
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more than $3 billion. This paper explores Grameen Bank’s origins‚ structure‚ culture‚ performance and efforts to expand and broaden the microfinance agenda. The authors evaluate Grameen’s success in implementing Yunus’s vision in the light of various challenges and conclude that the short-run effects of microcredit have been positive and that microfinance will continue to make important contributions to poverty reduction. Admittedly‚ an assessment of Grameen solely in terms of financial viability—that
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References: ∗ Microfinance Institutions - Issues in Sustainability- Chapter 11‚ Design and Implementation Of MIS for MFIs: Ramesh Arunachalam. ∗ Management Information Systems for Microfinance Institutions: A Handbook‚ Charles Waterfield & Nick Ramsing. Copy right CGAP/World Bank. 15
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Muhammad Yunus: Lifting People Worldwide out of Poverty: Knowledge@Wharton (http://knowledge.wharton.upenn.edu/article.cfm?articleid=2243) Muhammad Yunus: Lifting People Worldwide out of Poverty Published : May 27‚ 2009 in Knowledge@Wharton What began with a loan of $27 to 42 women in a small village 33 years ago has grown into a global microcredit movement that has changed the lives of millions of poor people around the world. Muhammad Yunus‚ founder and managing director of Bangladesh’s
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