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Savings Mobilisation: Tenets of Micro-credit for Poverty Reduction
One of the more common requirements of most MFIs is to encourage savings amongst the clients so that they develop an attitude of savings first and borrowing on that amount, and also to empower them, in the long term, to be independent of borrowing from external sources.
Working Her Way Out of Poverty
Kishwar's story - Pakistan

3.4 Making money work for poverty reduction: Working Out of Poverty
The incomes of working people living in poverty are not only low, but also volatile. Poor people, aware of the risks of not having sufficient earnings to meet daily needs, tend to save proportionally more than families with more secure, higher incomes. However, most banks do not offer savings and loan facilities to poor people. Many must hide their savings in cash somewhere and, when they need a loan, resort to the local moneylender for credit at onerous rates of interest. Microfinance is the provision, on a sustainable basis, of financial services such as credit, savings, insurance, payments and guarantees to poor people generally outside the reach of the formal financial market.

Other moneylender Related Articles

3.4 Making money work for poverty reduction: Working Out of Poverty
The incomes of working people living in poverty are not only low, but also volatile. Poor people, aware of the risks of not having sufficient earnings to meet daily needs, tend to save proportionally more than families with more secure, higher incomes. However, most banks do not offer savings and loan facilities to poor people. Many must hide their savings in cash somewhere and, when they need a loan, resort to the local moneylender for credit at onerous rates of interest. Microfinance is the provision, on a sustainable basis, of financial services such as credit, savings, insurance, payments and guarantees to poor people generally outside the reach of the formal financial market.
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