Microfinance is the provision that provides access to various financial services such as credit, savings, micro insurance, remittances, leasing to low-income clients including consumers and the self-employed, who traditionally lack access to banking and related services. Its main objective is to provide a permanent access to appropriate financial services including insurance, savings, and fund transfer. Micro finance becomes more widely accepted and moves into main stream, the supply of services to poor may also increase, improving the efficiency and outreach while lowering the costs.
The word ‘entrepreneur’ has been taken from the French language where it cradled and originally meant to designate an organiser of musical or other entertainments. Entrepreneurship among women in India is a recently fast growing concept that is applauded in several quarters of our National life. The Central and State Governments have initiated a number of steps taken in recent years for giving a great fillip to the cause of Women Entrepreneurship Development by way of granting a variety of special concessions, incentives, subsidies, rebates and assistance of varied nature, financial, technical, organizational and managerial etc. The Financial Institutions also has been contributing its share to this cause. They have launched a number of schemes of assistance to the favor of women entrepreneurs. Several women's Organisations at national and regional levels have also taken up this cause and sponsored a number of conferences and workshops in recent times, which gave a great moral support and inspiration for the women entrepreneurs to take up viable schemes of business and industry. The present paper in this regard is an attempt to examine the role of financial institutions in promoting small scale and tiny industries in terms of growth of entrepreneurs.
The focus group (target population) for the study was microfinanceinstitutions and small and medium enterprises within the Mbabane-Manzini corridor. Mbabane is the capital of Swaziland and has Swaziland’s biggest urbanized population. Manzini is the economic hub and has the largest population of all the cities and towns in the country. The country’s primary industrial site Matsapha and tourism hub, Ezulwini are all located within the corridor. Except for the agricultural sector, all the other primary sectors and industries are headquartered within the corridor, the major banks, and most MFIs are as well. The distance between the two towns is 40kms, with an estimated population of 330,000 against a total population of one million (Upgrading of low-income settlements country assessment report Swaziland, The World Bank, January 2002). With well-supported infrastructure like; access to electricity, roads (highway) and telecommunications network, makes the corridor very conducive for entrepreneurial growth, and convenient for research study purposes.
According to Islamic Research and Training Institute, 1/3 rd of world‟s poor are Muslims. It was reported that 72% of them did not use formal financial services. About 25-40 percent of Muslims refrain from utilising interest-based finance or conventional financing. Islamic microfinance in the global microfinance programs only represents less than 1%. Microfinance has been acknowledged as an important element tool in boosting the productivity with their principles to help finance micro entrepreneurs and poor by small loan besides the terms and conditions of these loans are generally flexible and easy to understand (Abdelkader, I.B. and A.B. Salem, 2013). This was also highlighted by (Abdul Rahman, A.R., 2007), this type of financing has an important role for promoting socio-economic development of the poor and small entrepreneurs without charging interest (riba). Islamic microfinance emerged as conventional microfinanceis not suitable for the culture and belief of Muslims because of the existence of prohibited non-Islam element (Muhammad, A.D. and Z. Hassan, 2009). The basis of Islamic microfinance is significant to the rapid development of two sectors which are microfinance and Islamic finance (CGAP Khaled Mohamed, 2011). Both sectors are prohibited to implement any sources that are related to interest (riba) a widely known feature in Islamic finance system compared to conventional ones. Therefore Islamic microfinance related institutions can earn profits from three sources which are through trading, leasing and financing (by implementing Profit Loss Sharing contracts (Al-Omar, F. and M. Abdel-Haq, 1996). To make it clear, the mechanism of lending in Islamic microfinance differs from conventional microfinance due to the prohibition of interest. Unlike conventional microfinance, it offers an interest-free way to give small loans to people who are poor and in need.
An association is formed by the poor in their community to offer microfinance services to them. The associations which can form on the basis of gender religion or political cultural orientation of its members then gather capital and intermediates between banks, MFI, and its member. Greenwood and Jovanovic (1990), in the study titled, “Financial development, growth, and the distribution of Income” addressed two important issues in economic growth theories in a single model: Relationship between economic growth and inequality and relation between financial structures and economic development. On the other hand economic development also provides means to financial development with ROSCAS. Kempson (1998), in the study titled, “Savings and low income and ethnic minority households” argued that possibility of financial exclusion is more likely to occur in the lower income section of society than amongst others.Goodwin et al. (2000), in the study, “Debt, Money management and access to financial services: Evidence from the 1999 PSE Survey of Britain,” emphasized the role of level of employment of a country as another important factor of financial inclusion. Access to affordable financial services especially credit and insurance - enlarges livelihood opportunities and empowers the poor to take charge of their lives. Beck et al. (2000), in the study titled, “Finance and the Sources of Growth” tried to evaluate empirically the relationship between level of financial intermediary development and economic growth. They observed a positive impact of financial intermediary development on the growth of total factor productivity which will lead to economic development. Chavan and Kumar (2002), in their study titled, “Micro-Credit and Rural Poverty : An Analysis of empirical evidence” compared NGO led micro credit programme of various countries with state
Education holds the key to development for any nation. It lays the foundation for a continuous and equitable growth of any country. In India, at the time of independence, less than one-fifth of the population was literate. After independence, many efforts were made to provide access to education to the general public. However, due to lack of educational institutions and teachers as well as poverty, customs and social barriers, there was not much development in education sector. As of today, significant progress has been made by the Government to develop and maintain the education system in the country. From time to time the Government of India has introduced various measures to provide quality education to all. Today, education in India has expanded many folds, bringing a significant increase in the schools, universities, colleges, teaching staff and strength of students. India has made considerable achievement in ‗Green Revolution‘, ‗Space Technology‘, ‗Nuclear Energy‘, ‗Information Technology‘, etc. due to the development of higher education. The success of the Indian education system is nowhere more visible than in the important positions held by Indian professionals, managers and entrepreneurs worldwide in cutting edge sectors such as those driven with the support of information technology, biotechnology and medical sciences.
As Viet Nam evolves toward a market economy, state intervention still continues in the rural financial system (Creusot et al. 1997; Colliot and Ngan 1997; Johnson 1996). The Viet Nam Bank for Agriculture was created by the state in 1990; it is a commercial bank using the classical banking criteria to distribute loans (such as physical guarantees and analysis of risks). By 1996, it had a substantial nationwide outreach with more than 1,800 branches spread over the country. In order to reach the poor, the state created in 1995 a nonprofit branch of the bank, the Viet Nam Bank for the Poor. Relying on subsidized credit and founded on political preoccupations, its capacity to reach financial sustainability is questionable. In spite of the 60 or so microfinance programs recently implemented by NGOs, the formal rural financial system in Viet Nam is still mainly driven by the state. Indeed, the new microfinance programs face financial and legal constraints such as an interest rate ceiling that impedes their development.
The development of microfinanceinstitutions in Ethiopia since 1996 has been a remarkable progress in poverty reduction. Numerous descriptive studies have ensured that microfinance is an effective tool to eradicate poverty in Ethiopia but evidence from quantitative studies is mixed. Derbew Kenubeh (2015), examined with the objective to identify and highlighting the key challenges facing officials of microfinanceinstitutions by taking a case study of Amhara Credit and Saving Institution, Ethiopia and found that the officials of the institutions facing several challenges emanated from system of the organization and from the side of clients and suggested that the policy makers and institution itself should give emphasis to avoid the challenges facing officials. Mohammad (2010), stated in his study that microfinanceinstitutions faced many problems and suggested that the government needs to play an important role to accelerate the sector and provide essential facilities to minimize challenges and strategic policy towards the microfinance
aware them of their rights in the household. The targeted households’ males and females are given awareness of the microfinance programme and the purpose of it. After obtaining the consent of both, loans are disbursed to the woman that has the support from her husband. If a woman wants to start a business then financial (credit) with non-financial support (market links) is provided by the institution and their entrepreneurship skills are polished through trainings. According to Asasah there are three types of woman client: one who has some entrepreneurial skills and willingness to take initiative to support the household, such clients will become entrepreneurs after taking a full package of microfinance; second, one who lacks entrepreneurial skills, or does not have a supportive husband needs 3-7 years to take full advantage of the package; and third the on and off client that takes out a loan in need and then disappear until she needs it, such a client will never get full advantage of the microfinance package provided by Asasah. This full package of credit, awareness to household members, market links, proposing new business ideas, business orientation, cash flow trainings and opportunities to sell products in national markets and to display products in international exhibitions open the eyes of the borrower to a new world with the consent of her spouse. The woman will take advantage of it if she is partially participating or even not participating in the family or husband’s business financed through microfinance. The support from the institution gives them courage; health and life insurance give them security; and regular meetings give them awareness about their rights and increase the personal skills and mobility of the women. She feels much more empowered in making decisions in the household due to the improved economic conditions of the family. Asasah’s aim to increase productivity of the household is achieved by enterprise development by the female client or her husband, more children enrolled in the school and a woman more empowered, aware of her rights and secure in the household. The development of entrepreneurship abilities and expansion of enterprise into small and medium sized businesses is a long term objective that requires many years of effort.
According to Yunus , microfinance involves making financial services available to the poor, who are usually not served by traditional financial institutions. A micro-finance institution (MFI) is one that offers microfinance services, spanning from minor non- organizations to large Deposit Money Banks . These informal credit institutions offer loan and savings services to their members. Kirkpatrick , Microfinance is broader than micro-credit as it comprises of savings, credit, insurance amongst others. Opara  stated that unofficial financial services comprise of rotating savings and credit associations (ROSCAs), thrift associations, savings enlistment groups customarily called Esusu, bambam, ado and adashi by diverse societies, day-to-day savings, or donation organizations, cooperative societies, religious institutions, social clubs as well as village and town alliance The Yoruba tribe regards it as Esusu or Ajo, the Igbos call to it Isusu or Uto and the Hausa refer to it as Adashi’. According to Onaolapo  the non-conventional formal MicrofinanceInstitutions (MFIs) are working alongside with the informal institutions. The development of the microfinanceinstitutions came as a consequence of the inability or reluctance of the traditional banks to draw from the financial assets in the rural areas. All through the whole universe, the underprivileged are often exempted from the formal financial system either partly in developed countries or full exemption in Less Developed Countries (LDCs) .
Abstract:-This paper presents the results of qualitative study on micro enterprises in Bangladesh that examines how microfinanceinstitutions (MFIs) influence the starting and scaling up of the microenterprises (MEs). By analyzing both successful and failure microenterprises this paper also tries to identify why microenterprise starts as well as scales up and vice versa. This paper finds credit support of MFIs plays catalyst role for MEs development. It is key factor for both expansion and contraction but not the primary cause of MEs’ success. Entrepreneurial mind and previous working experience play significant role for starting and skills training accelerates success of MEs. Other than financing, MFIs do not have significant role in promotion of MEs. Further, MFIs are rational financing organizations and usually finance in the ventures where recovery rate is higher. When they are in doubt about the recovery rate, especially during idiosyncratic shock of MEs venture they usually do not finance.
Islamic banks become the best solution to the crisis of the global financial system at present.in addition, it become also a real player in dealing with economic crises and the financial complexities of the traditional banking system prevailing in the world today. moreover, countries and governments in both developed and developing countries have become increasingly interested in the issue of microfinance because of their close association with the development in various countries and may be interested in supporting countries and governments for microfinance by enacting the necessary laws and legislation. And the establishment of institutions and bodies specialized in financing and support these microfinance in addition to the microfinance in many developed countries have become a specialty taught in universities and specialized institutes. Scientific seminars and conferences are held in order to support and develop it so that it achieves the objectives set for it and thus meets the aspirations of society in development. This study focus on the role of Islamic banks that can play an active and influential role in generating wealth and reducing poverty through financing for Microfinanceinstitutions where the study showed the social role of the nature of contracts in Islamic banks through which Islamic banks can be the best in Microfinance.
MicrofinanceInstitutions be an institution that is very strategic for the economic development of the people. Due to the presence of MFIs in the midst of micro-entrepreneurs who are currently still so nimin presence felt, both in terms of quality and quantity standpoint. Conceptually the activities of financial institutions always leads to the existence of institutional self embryos. Institutional independence, not only in activities but also in human resources. The presence of micro-finance institutions which can be managed well, also touch social cohesion among members of social groups was based on the confidence (trust). Close relations among members of the group and also the leadership of the successful, bringing them to help each other, share each other so that there is a reciprocal process. This is the basis for the existence of social capital in the community and at the same as the initial capital of financial institutions mikro. In order to realize the goals of local economic development is needed framework design community empowerment as a support for local economic development can be seen in the following picture:
It has been argued that although the housing finance sectors in most DCs are growing steadily, access to low-income housing finance by low-income groups remains a fundamental challenge (Köhn and von Pischke, 2011). Bolebano (2014) observes that this situation persists due to certain stringent financial regulations that lack consistent strategies to support the housing finance systems that best fit the poorest segment of the population, who rely on the incremental building process. In the case of Ghana, the provision of housing is mostly through outright purchase, self-build and rental from private estate developers, housing companies, individuals and others. Conventional housing finance institutions are commercial banks which dominate in the provision of housing finance in the country (Boamah, 2011). These organisations, such as the home finance company (HFC), support all kinds of property investment, including development, commercial, industrial and residential houses (Nsiah- Gyabaah, 2013). However, the focus of the other commercial institutions is on mortgage financing schemes for residential properties, while other banks offer mixed portfolios (Konadu‐Agyemang, 2000). They usually exclude those at the bottom end of the housing market. Therefore, such income groups require efficient and innovative financial mechanisms that best fit into their housing development efforts and process.
the Bangalees by the Pakistan military was like the head hiding camel bird. It was Pakistani Propaganda which was mainly responsible for their attitude like this. Yahya was able to sell his ideas to the Arab leaders that Islam and the Muslims were on the verge of destruction in Pakistan due to the secessionist activities of some miscreants like Sheikh Mujibur Rahman who was directed by India. The Pakistanis used the name of a great religion of Islam for mischievous purposes to mislead the Arab countries. The animus role of the Arab world, who believed Pakistan’s campaign, was an unexpected surprise for the Bangalees. Bangladesh expected that as the liberation war of Bangladesh was totally against discrimination, despotism and injustice, which might be supported in regard to the logic of Islamic ideology. Its thinking was not building a castle in the air. But, they disappointed 7.5 million Muslims of Bangladesh. Can an innocent Muslim child be butchered by a Muslim? Can the innocent Muslim girls be raped by the Muslim soldiers of West Pakistan in the name of unity? What type of Islam it was! The Bangalees revolted against such type of Muslims and their allies.
referred to in the starting phrase of the UN Charter.Article 7 of the Charter enlists the Secretariat as one of the principal organs of the UN.The acquisition of such a status must entail significant consequences, for it is the principal organs which are primarily responsible for the attainment of the UN objectives and for the observance of the principles of the Charter. Thus, the leitmotif of this paper is to ascertain the role that the Secretariat is mandated to play in the international arena in light of the Charter principles, international political external code and the role expectations. The paper provides a legalistic description of the administrative, political and diplomatic role of the Secretariat as envisaged by the UN Charter. According to Article 97, the Secretariat is composed of the Secretary-General and the staff, and as the latter is appointed by the former and as the Secretary-General is alone responsible to the UN for the work of the Secretariat,the paper will aim to highlight the trend to structure the role of the Secretariat around the traits of the Secretary-General holding the office. The paper will also attempt to study the effect of personal qualities, work ethics, ethical framework and perceptions of the Secretary-General on the role expectations from the office of the Secretariat. The paper will attempt to analyse the expansionist interpretation of the Secretariat‟s role stamped on the office by the successive Secretary-General‟s. The paper also aims to identify the political constraints that the office of the Secretariat is endowed with. An attempt is made to demonstrate how these political constraints can be overcome, as they have been viewed as influencing the handling of the position. The paper concludes with certain overarching observations.
The College's role in motivating his student became young entrepreneur is very important. It is seen from some of the discussions of the field of entrepreneurship that has been presented above. The problem is how the College parties able to perform its role properly and capable of producing scholars who are ready to entrepreneurship. The role of College party in providing a container that provides the opportunity start a business since college is important, in accordance with the opinion of Thomas Zimmerer that starting a business, it could at the time college running, but more how important is the role of the College in terms of motivating its student to incorporated in the container. Because without giving any clear picture of the benefits of entrepreneurship, then likely the students no one is motivated to deepen skills doing business.
diffused Link ages: This relationship is the most difficult to identify because they include stakeholders who do not have any interaction with the organization, but engaged based on the actions of the organization. A public that often arises in times of crisis. Included in the category of linkage is diffused media, NGOs or other special interest groups. The emergence of linkages diffused out of the role of mass media. The mass media have a role in conveying all relevant information Parliament to other audiences. Sufficient public interest group influence as an example of the media. Social media also included a great influence institutionally as it sounds netizen affect the performance of the Parliament itself. In addition a kind of institutional association in the community, in accordance with the interests of its issue as Laboror PGRI.
The asthma and depressive status in asthma was induced in mice by frequent exposure of trypsin and egg-albumin, which causes significant reduction of respiratory functions. Trypsin and egg albumin exposure significantly (p<0.05) lower tidal volume and air flow rate as compare to the normal control group. The depressive asthmatic group showed further decrease in tidal volume and air flow rate as compared with only asthmatic group and normal control group. In contrast to the tidal volume and air flow rate, significantly (p<0.05) higher respiratory rate was observed in asthmatic group as compared with normal control group. The depressive asthmatic group showed further increase in respiratory rate as compared with asthmatic group and normal control group. There was no significant difference found in tidal volume, airflow rate and respiratory rate in mice having depression without asthma. Memantine-treated mice showed improvement in tidal volume, airflow rate and respiratory rate as compared to depressive asthmatic mice (Table 2). It was also found that increased number of exposures of egg albumin (as in case of group IV) was associated with development of depression and further declining of respiratory functions.
Leptin resistance and aging seem to be strongly intertwined. Both in the brain and in the periphery, the physiological actions of leptin experience a decrease during advancing age. The redistribution of adipose tissue and increased percent body fat observed during middle and old age contribute however to an increase in circulating leptin. This suggests that leptin resistance in aging is not overcome by an increase in leptin levels. Once established, leptin resistance increases adipose tissue inflammation through preadipocytes activation and seems to negatively impact cognitive function. When comparing the effects of leptin resistance to the metabolic dysfunctions observed in aging, leptin resistance appears to be an early contributor to the development of metabolic abnormalities in old age. Leptin resistance also exerts important functional impairment on