Microfinance is a banking service provided to unemployed or low-income individuals or groups who otherwise would have no other access to financial services. Microfinance allows people to take on reasonable small business loans safely, and in a manner that is consistent with ethical lending practices.

What are the services of micro finance?

Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance initially had a limited definition: the provision of microloans to poor entrepreneurs and small businesses lacking access to credit.

What are the core principles of microfinance?

KEY PRINCIPLES OF MICROFINANCE

• The poor need a variety of financial services, not just loans.
• Microfinance is a powerful instrument against poverty.
• Microfinance means building financial systems that serve the poor.
• Financial sustainability is necessary to reach significant numbers of poor people.

What are the benefits of micro finance?

The benefits of microfinance include: Small loans enable entrepreneurs to start or expand micro, small and medium enterprises. Savings help families build assets to finance school fees, improve homes (e.g., install power or running water) and achieve goals. Insurance products can offset the cost of medical care.

What are the duties of a microfinance manager?

Develop and support diverse strengthening activities for microfinance, including forums, focus on compliance and internal audit, and a forum on women in finance. Provide leadership in building a library in microfinance texts, in both hard copy and soft copy.

What is the job description of a finance manager?

As a crucial member of the finance team, a typical Finance Manager job description should include, but not be limited to: Collecting, interpreting and reviewing financial information Predicting future financial trends Reporting to management and stakeholders, and providing advice how the company and future business decisions might be impacted

What is the job description of a business unit manager?

His/her job description involves record keeping, information management, facilities maintenance and planning, mail distribution, and other office support duties. In increasing trend of corporate performance like we have today, one of the prevalent influences is traced to the performance of the unit- level.

Who is the manager of the Afghanistan Microfinance Department?

Be responsible for developing, maintaining and strengthening relationships with MFIs, MISFA, Afghanistan Microfinance Association (AMA), FAIDA, relevant international and domestic institutions and/or Ministries. Develop strategy and work plan for the Microfinance Department, in consultation with MISFA and FAIDA.