> Posted by Kelley Mesa
Check out Elisabeth Rhyne’s commentary on MarketWatch.com…
The next banking revolution
Microfinance is not just about loans
“The world is in the midst of a banking revolution that has nothing to do with exotic financial engineering. It’s in microfinance, or the provision of financial services to poor people worldwide.
To most people, microfinance means microcredit, or lending to the owners of very small businesses in the developing world. In recent years, though, efforts to extend a wider range of financial services to reach the nearly three-quarters of the world’s population with per-capita incomes below $3,000 — the so-called “base of the pyramid” — have gained significant traction.” Click here to read the full piece >