5 Questions
What are some examples of other financial services beyond traditional banking?
Microfinance, startups, digital wallets, and mobile money.
What is microfinance?
Microfinance refers to the financial services provided to low-income individuals or groups who are typically excluded from traditional banking. It includes credit in the form of small working capital loans, insurance, money transfers, and savings accounts.
Why are low-income people often neglected by traditional financial systems?
Low-income people are neglected because they are considered uneconomical to serve or too difficult to reach by the traditional financial systems.
What do most microfinance institutions focus on offering?
Most microfinance institutions focus on offering credit in the form of small working capital loans, sometimes called microloans or microcredit.
What types of services do regulated microfinance banks provide?
Regulated microfinance banks provide savings accounts, in addition to credit, insurance, and money transfers.
Test your knowledge of other financial services with this quiz! Explore topics like microfinance, startups, digital wallets, and mobile money. Learn about real-life examples and gain a deeper understanding of the diverse financial services landscape.
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