Microfinance Sector Emerging As A Transformative Force
Role of Microfinance Institutions
A loan is not a burden when invested wisely. Rather, it’s a stepping stone to financial growth. Despite the common perception associating loans with repayments, history reveals numerous instances where loans served as stepping stones for individuals and corporates, propelling them from millionaires to billionaires, and perhaps even more
Before delving into the role of loans as stepping stones to personal dreams, it’s crucial to understand the fundamental significance of credit creation in fostering the growth of a developing nation. Credit creation, a dynamic process led by banks, involves extending loans to individuals and businesses. This process is pivotal for the smooth functioning of the economy, enabling business expansions and empowering individuals to participate in the economic cycle by purchasing goods and services.