Microfinance Institutions: Instrumental for Promoting Financial Inclusion

Abstract

This opinion paper provides a general overview of microfinance / microcredit which is considered one the major program to minimize the poverty, women empowerment and to socioeconomically inclusive society. There are number of success and failure stories mostly from Africa, Asia, and Latin America; however, the microfinance is global agenda of contemporary world. Based secondary sources, and own experience, the paper provides the general overview of microcredit, its success, the obstacles of microfinance and outlines very brief cases of Nepal and Bangladesh. And finally, paper provides a brief recommendation on how microcredit can be successful especially to the developing world.