Faith-based Microfinance. An Alternative Tool of Poverty Alleviation

Faith-based Microfinance. An Alternative Tool of Poverty Alleviation

Author: Najmul Hoda

Publisher: GRIN Verlag

Published: 2018-07-26

Total Pages: 291

ISBN-13: 3668759847

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Doctoral Thesis / Dissertation from the year 2013 in the subject Sociology - Work, Education, Organisation, grade: A, , course: PhD, language: English, abstract: The poor, like others, too need financial products and services in order to build assets, manage consumption and mitigate risks. Microfinance, in recent times, has emerged as a powerful tool to provide access to some financial services to the poor. For decades, poverty alleviation has topped the International development agenda. United Nations Millennium Goals state that by 2015 the number of people living in extreme poverty should be half of what it was in 2000. Microfinance addresses the twin goals of financial inclusion and poverty alleviation in a way that builds self-esteem in the individual and self-sufficiency in the institution providing the financial services. Different models have emerged in microfinance delivery based on their clientele, focus area, interest rate, savings linkages, collateral, coverage and organizational/legal structure. With all the successes of the existing microfinance models, the herculean task of poverty alleviation still leaves enough space for innovative models. This study explores the potential of faith-based microfinance in complimenting the efforts of poverty alleviation and also overcoming the weaknesses in the existing models. Faith-based microfinance operate on distinct principles. The purpose of this study is to focus on the functioning of the faith based microfinance and to explore its role as an alternative tool of poverty alleviation. In order to get a meaningful insight regarding the impact of faith based microfinance on the lives of the beneficiaries, it is necessary that a comparison is made to the mainstream microfinance on commonly accepted parameters of poverty alleviation.


Poverty Reduction Policies and Practices in Developing Asia

Poverty Reduction Policies and Practices in Developing Asia

Author: Almas Heshmati

Publisher: Springer

Published: 2015-03-31

Total Pages: 309

ISBN-13: 9812874208

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This book looks at the major policy challenges facing developing Asia and how the region sustains rapid economic growth to reduce multidimensional poverty through socially inclusive and environmentally sustainable measures. Asia is facing many challenges arising from population growth, rapid urbanization, provision of services, climate change and the need to redress declining growth after the global financial crisis. This book examines poverty and related issues and aims to advance the development of new tools and measurement of multidimensional poverty and poverty reduction policy analysis. The book covers a wide range of issues, including determinants and causes of poverty and its changes; consequences and impacts of poverty on human capital formation, growth and consumption; assessment of poverty strategies and policies; the role of government, NGOs and other institutions in poverty reduction; rural-urban migration and poverty; vulnerability to poverty; breakdown of poverty into chronic and transitory components; and a comparative study on poverty issues in Asia and other regions. The book will appeal to all those interested in economic development, resources, policies and economic welfare and growth.


Microfinance and Poverty Reduction

Microfinance and Poverty Reduction

Author: Susan Johnson

Publisher: Oxfam

Published: 1997

Total Pages: 148

ISBN-13: 9780855983697

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The book emphasizes the importance of studying the local context, and then considering the macroeconomic factors which may be operating upon the economy of a particular country. Five extended case studies, in the Gambia, Ecuador, Mexico, Pakistan, and the UK are examined with reference to further aspects of sustainability and impact assessment.


The Microfinance Revolution

The Microfinance Revolution

Author: Marguerite Robinson

Publisher: World Bank Publications

Published: 2001-06-01

Total Pages: 358

ISBN-13: 0821383388

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Around the world, a revolution is occurring in finance for low-income people. The microfinance revolution is delivering financial services to the economically active poor on a large scale through competing, financially self-sufficient institutions. In a few countries this has already happened; in others it is under way. The emerging microfinance industry has profound implications for social and economic development. For the first time in history, capital is well on its way to being democratized. 'The Microfinance Revolution', in three volumes, is aimed at a diverse readership - economists, bankers, policymakers, donors, and social scientists; microfinance practitioners and specialists in local finance and rural and urban development; and members of the general public interested in development. This first volume, 'Sustainable Finance for the Poor', focuses on the shift from government- and donor-subsidized credit systems to self-sufficient microfinance institutions providing voluntary savings and credit services.


Microfinance and Poverty Reduction: An Empirical Evidence from Benin Metropolis South-South of Nigeria

Microfinance and Poverty Reduction: An Empirical Evidence from Benin Metropolis South-South of Nigeria

Author: Uyi Benjamin Edegbe

Publisher: Anchor Academic Publishing (aap_verlag)

Published: 2013-10

Total Pages: 89

ISBN-13: 3954891735

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This book is an empirical study of how microfinance impacts on poverty reduction in Nigeria. The book examined conceptual issues in poverty and microfinance with focus on the nature and incidences of the poverty phenomenon, justification for the establishment and growth of microfinance in Nigeria. This book with theoretical and empirical findings investigates the previous attempts by the governments in alleviating poverty and specifically how microfinance have helped in reducing the poverty menace especially since the promulgation of the microfinance banking act in 2005 by the Central bank of Nigeria.


Microfinance

Microfinance

Author: Kennedy Wainyaragania

Publisher: LAP Lambert Academic Publishing

Published: 2012-04

Total Pages: 76

ISBN-13: 9783659108907

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Today, almost half of the world's 7 billion people live on US$2 a day or less. Polak in his book "Out of Poverty," argues that what the poor need to get out of poverty is money. Following this, the UN declared 2005 the Year of Microcredit to achieving the Millennium Development Goal of halving poverty by 2015. Since that time, microfinance has received much attention. Access to finance for production and consumption is one of the solutions suggested by theory and empirical studies to alleviate poverty in rural Africa. Such financing has been seen to work best through households and self-help groups. Tanzania as one of the poorest countries in the World with rural populations taking the largest proportion of poverty incidence has been struggling to reduce poverty as with other developing countries. One of the interventions has been the introduction and implementation of the National Microfinance Policy. Evidence from policy documents seem to suggest that VICOBA stands out among MFIs in poverty reduction. This study used empirical analysis to investigate the actual role of VICOBA project in Tanzania and the extent to which their operations contribute to poverty alleviation.


The Political Economy of Microfinance

The Political Economy of Microfinance

Author: Philip Mader

Publisher: Springer

Published: 2016-01-12

Total Pages: 297

ISBN-13: 1137364211

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According to the author, rather than alleviating poverty, microfinance financialises poverty. By indebting poor people in the Global South, it drives financial expansion and opens new lands of opportunity for the crisis-ridden global capital markets. This book raises fundamental concerns about this widely-celebrated tool for social development.


Microfinance and Poverty Reduction in Nigeria

Microfinance and Poverty Reduction in Nigeria

Author: Uyi Benjamin Edegbe

Publisher: GRIN Verlag

Published: 2013-06-07

Total Pages: 90

ISBN-13: 3656444242

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Master's Thesis from the year 2013 in the subject Sociology - Miscellaneous, University of Freiburg (Global Studies Program, Institute fur Soziologie.), language: English, abstract: [...] The poverty question is a global phenomenon. It is perhaps one of the greatest challenges facing Mankind today, especially in most parts of the developing world. This Perhaps explains why the eradication of poverty was listed as the first of the eight issues of the millennium development goals. The problem of poverty is more disturbing giving the fact that there is abundant and enormous wealth in the world to adequately meet the needs of every one. Poverty may be defined as a condition of lack and inability to meet adequately the basic needs of life such as Shelter, food, education and health care. Similarly, according to a United Nations statement: Poverty is a denial of choices and opportunities, a violation of human dignity. It means lack of basic capacity to participate effectively in society. It means not having enough to feed and clothe a family, not having a school or clinic to go to; not having the land on which to grow one’s food or a job to earn one’s living, not having access to credit. It means insecurity, powerlessness and exclusion of individuals, households and communities. It means susceptibility to violence, and it often implies living on marginal or fragile environments, without access to clean water or sanitation.(UN,2008 quoted in Ucha,2010). 2 In other words, the problems of poverty is more worrisome in Sub-Saharan Africa with 47.5% of the people living on less than $1.25 and 70% living on less than $2 per day in Sub-Sahara Africa (World Bank, 2008).The figure may have become worse considering the drought that hit parts of horn of (East) Africa in 2011 and the problem of maladministration or poor governance bedeviling the region. In Nigeria the high level of corruption, poor leadership has contributed to exacerbate the problem of poverty. Ucha, 2010 puts it thus: “Unemployment, corruption, non diversification of the economy, income inequality, laziness and a poor educational system can be considered to be some of the key factors contributing to poverty in Nigeria”(p.46). Given the fact that Nigeria is a country with rich human and natural resources, it is disturbing that majority of her citizens are still very poor. The government has over the years formulated a lot of programs and policies geared towards poverty reduction; however it remains a controversy whether those programs and policies have actually achieved their desired objectives.[...]


Microfinance in Africa

Microfinance in Africa

Author: S. Rajagopalan

Publisher:

Published: 2009

Total Pages: 220

ISBN-13:

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Africa is home to some of the poorest and vulnerable populations in the world. The ten poorest countries in the world are in Africa. Sub-Saharan Africa is the region with the highest incidence and greatest depth of poverty in the world. Fewer than one in five adults in Africa has access to the services of a formal or semi-formal financial institution. Microfinance in Africa is growing, though. A broad range of diverse institutions offer financial services to the poor and low-income clients in Africa. These include non-governmental organizations, non-banking financial institutions, cooperatives, credit unions, rural banks, Rotating Savings and Credit Associations (ROSCAs), postal financial institutions and an increasing number of commercial banks. Increasingly, technology is being used to expand microfinance outreach mobile phone banking is one such example. This book provides an overview of the microfinance sector in Africa, reviews the performance and impact of microfinance institutions in the region, and outlines some of the opportunities and challenges that African microfinance has on hand.