Malaysia International Conference On Cooperative and Microfinance Management

Introduction

Microfinance is a revolutionary approach to development finance with the provision of financial services such as credit, savings, insurance, money transfer to poor and low income households and their micro-enterprises.

Microfinance around the world shows that poor people with little education are reliable borrowers. They will invest wisely and are willing to save if given the chance. Experience has shown that women are the best borrowers and are better at repaying their loans.

Microfinance was initially offered by different kind of institutions, informal and traditional systems, local and international NGOs funded by donors, cooperatives and credit unions, local goverment institutions, specialised financial institutuins and ultimately by requlated, formal commercial financial institutions.