Research on the Rapid Growth of International Microfinance

Abstract

The financial strategies developed over the last two decades, with many organizations and groups benefiting from financial success in various ways. Microfinance has been around for centuries. Across the world, savings and loans and various credit unions provide financial services to underserved populations who are often overlooked by commercial institutions. The history of international financial institutions began in South Asia and Latin America in the mid-1800s. At this time, many savings and loan associations were merging to form institutions that were more profitable than banks. These actions lay the foundations for an international microfinance sector, demonstrating that it cannot only support the diverse financial needs of individuals but also generate international projects. Over the past two decades, the global microfinance industry has grown rapidly and influenced global financial markets. According to statistics, the business has now grown to serve more than 200 million customers worldwide.