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Monetary Financial Institutions (MFIs), as in a definition provided by the European Central Bank, are defined as central banks, resident credit institutions as defined in Community Law, and other resident financial institutions whose business is to take deposits or close substitutes for deposits from entities other than MFIs and, for their own account (at least in economic terms), to grant ...
Non-Banking Financial Company (NBFC) is [1] a company registered under the Companies Act, 1956 of India, engaged in the business of loans and advances, acquisition of shares, stock, bonds, hire-purchase insurance business or chit-fund business, but does not include any institution whose principal business is that of agriculture, industrial activity, purchase or sale of any goods (other than ...
Village banking is a microcredit and saving methodology whereby financial services are administered locally in a community bank rather than in a centralized commercial bank. Village banking has its roots in ancient cultures and was most recently adopted for use by micro-finance institutions (MFIs) as a way to control costs.
Microfinance initially had a limited definition: the provision of microloans to small scale entrepreneurs and small (informal sectors) businesses lacking access to credit. [4] The two main mechanisms for the delivery of financial services to such clients were: (1) relationship-based banking for individual entrepreneurs and small businesses; and
A Multilateral Development Bank (MDB) is a development bank, created by a group of countries, that provides financing, technical assistance and professional advice to enhance development. An MDB has many members, including developed donor countries and developing borrower countries. MDBs finance projects through long-term loans at market rates ...
A money market account (MMA) is a middle ground between checking and high-yield savings accounts. They're offered by traditional banks, online banks and credit unions as a way to earn higher ...
MFI Foundation Inc., non-profit science foundation in the Philippines; MFI Group, British furniture retailer; Media Factory, Inc., anime company; Messiah Foundation International, a spiritual organization; Microfinance institution, alternate form of bank in developing countries which provides microcredit lending
On September 28, 2012 at the Alliance for Financial Inclusion's Global Policy Forum 2012, the bank made a commitment under the Maya Declaration to promote agent and mobile banking, implement consumer protection initiatives, and establish a credit bureau for the MFI sector. [1]