"Early adopters of what's sometimes called savings-led microfinance find that the demand for savings accounts far outstrips the demand for loans. Bank Rakyat in Indonesia, for instance, has 10 savers for every one borrower. 'Low-income people need a variety of financial services,' says Bob Christen, director of the financial services group at the Gates Foundation, which has given tens of millions of dollars in grants to savings initiatives."
Monday, August 31, 2009
The Next Step for Microfinance: Taking Deposits - TIME: