Comparative Review of an Effective Mfi Ecosystem with Its Financial Services (original) (raw)

Scientific Review Theory and Practice, 2021

Abstract

The banking sector plays an important role in the economy of Armenia and other post-Soviet countries, and MFIs can play an important role in ensuring economic growth, in eliminating indifference to wealth. The traditional mission of MFIs is to provide services to low-income segments of the population to help them fight poverty and create value, but often MFIs provide microloans with higher interest rates for consumer purposes. One of the key negative trends of the microfinance sector is the coexistence of increased stability and mission drift. Currently, taking into account the fact that the microfinance industry plays a key role in reducing poverty in the districts, it is important to study the effectiveness of their work, in particular, the social and financial mission, and find the best financial product that meets these goals. The article uses a mixed methodology of literature review on secondary data and quantitative analysis. In total, 80 respondents took part in the quantitat...

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