Microfinance Should Have Started with Savings
Much of the world is in trouble today because of debt, too much borrowing, presumably not enough saving, by individuals, companies, countries and groups of countries.
Can Collecting Savings in Rural Areas Be Profitable?
The importance and role of savings with respect to the economic and social development of developing countries and of African countries in particular have long been recognized.
Does Savings Help Protect MFIs from Political Interference?
Until recently, microfinance in India (really microcredit) had been driven by innovators and entrepreneurs, but also enabled by government policies such as of priority sector lending and regulatory restrictions prohibiting deposit mobilization for most MFIs.
A Little Willpower Can Have a Big Impact
When Women’s World Banking (WWB) started our savings and financial education program for girls in 2008, we were excited about the potential to provide a sustainable, scalable way to encourage girls to build assets and become better money managers.
From Basel to Bujumbura: Why Deposit Insurance Matters
Broad access to safe and affordable small savings accounts promotes financial inclusion and helps households prepare for unexpected expenses and plan for a more secure financial future.
Reaching the Poor and Very Poor with Appropriate Savings Services
More and more people understand that even the poorest save. But, reaching the poor and very poor does not happen automatically.
Postal Banks Have Potential to Open 1 Billion Savings Accounts
Toward the end of the 19th century, postal services began to contribute to the development of a savings culture in many of today’s industrialized countries. And they are playing a similar role in developing and emerging countries at the dawn of the 21st century.
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From a policy perspective, if we could find a way to help individuals use savings rather than debt to make large expenditures, many would have more money for food, festivities, investment and mitigating risks in the long run.
Saving Up Is Hard to Do
The financial lives of the poor are dominated by the need to build usefully large sums of money for immediate expenditure.