Growth with Equity Through Microfinance Network: A Conceptual View
Published: 2018
Author(s) Name: Mohammad Badruddozza Mia |
Author(s) Affiliation: School of Business and Economics, United International University, Dhaka, Bangladesh.
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Abstract
As one of the largest poverty interventions microfinance
has been covering a significant proportion of people
in poverty for a long period of time. In recognition
of its poverty alleviation potentiality and bringing
peace in borrowing households and their community,
microfinance has been awarded with world famous
awarding bodies. Besides recognitions, microfinance
has been facing strong criticism for the adverse
implications of this development program on different
economic and social aspects of the community it
serves. This paper depicts the development concept of
microfinance and its genesis. It identifies the claimed
positive impacts and the criticisms that the conventional
microfinance has been facing, and proposes an
alternative approach of equitable development through
microfinance network for the economically and socially
marginalized community that can avoid most of the
adverse consequences of conventional microfinance.
Keywords: Conventional Microfinance, Impact, Drawback, Equitable Development Model
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