Amala App Suite Features

Microcredit is a common form of microfinance that involves an extremely small loan given to an individual to help them become self-employed or grow a small business. These borrowers tend to be low-income individuals, especially from less developed countries (LDCs). Microcredit is also known as "microlending" or "microloan."

‘SIMPLE FACTS’

• Microcredit is a method of lending very small sums to individuals to start or expand a small business.

• Microcredit borrowers tend to be low-income individuals living in parts of the developing world; the practice originated in its modern form.

Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus.

The COVID-19 virus affects different people in different ways.  COVID-19 is a respiratory disease and most infected people will develop mild to moderate symptoms and recover without requiring special treatment.  People who have underlying medical conditions and those over 60 years old have a higher risk of developing severe disease and death.[1]

Financial inclusion is where individuals and businesses have access to useful and affordable financial products and services that meet their needs that are delivered responsibly and sustainably. Financial inclusion is defined as the availability and equality of opportunities to access financial services.

Those that promote financial inclusion argue that financial services can be viewed as having significant positive externalities when more people and firms participate.

Microfinance is constantly facing significant changes: microfinance products are being developed and modified by MFIs; more and more traditional financial institutions, banks, fintech and other organizations, such as credit unions, guarantee funds and mobile operators are getting involved in microfinance; national authorities are developing and tightening up regulations in order to facilitate and speed up further financial sector development.

This study covers a wide range of topics that make this study appealing to MFIs, investors and other industry players from all over the world. It brings on board a unique network of experts and senior level speakers views who shares their experiences and perspectives on current and future trends and challenges in microfinance despite the difficult economic climate and ongoing changes in regulations.