Monday, August 31, 2009

The Next Step for Microfinance: Taking Deposits - TIME

The Next Step for Microfinance: Taking Deposits - TIME:
"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."

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