The Role of microfinance banks in the economic development of a Nation:
Date
2013
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Gombe state,
Abstract
The Role of Microfinance Banks in National Economic Development; Microfinance Banking in North-East Zone; The Role of NDIC in Re-positioning MFBs;
Description
The paper has attempted to discuss the role of MFBs in the economic development of Nigeria. Empirical evidence has affirmed that microfinance banks are at the heart
of the poverty alleviation programmes and national economic development. Microfinance has filled certain gaps which the conventional banks have neglected, viz. provision of financial services to the active poor and under privileged, undertaking financial literacy at the grassroots level and provision of business raining skills.
Microfinance banks have, thus far, helped in reducing poverty and financial exclusion and could achieve greater strides if more efforts are made by all and at all levels. There is also the need for closer collaboration by all stakeholders to ensure human and institutional transformation, provision of incentives and a conducive operating environment for the microfinance banks.