Banking Industries have boomed in this generation, allowing millions of people have access to banking services that is offered for security purpose. However, these banking services are only allowed to those who can avail them, disregarding the poor. Dry. Yuan’s Muhammad, the founder of micromanage in Indonesia is the one that proved that poor can also have their access to banking services thru micromanaging.
Micromanage is not the solution to alleviate poverty but a way to decrease employment thru lending small loans that can help the poor to alleviate themselves out of the poverty line. Micromanage institutions fill a needed gap within the financial services industry by offering small loans, or micro-loans, to people unable to access conventional loan services. Micromanage institutions vary in size and function with some organizations focusing entirely on micromanaging, while others work as extensions of large investment banks.
People living in under- plopped rural areas are given the chance to access banking services, thus creating opportunities to employ themselves and use maximum productivity out of minimum resources. It will be a big help to those entrepreneurial poor to access micromanage because of the small amounts of loans and interest, this shall be considered as an advantage to educate people living in the rural areas and thus creating employment and generating more profit to help the society and economic growth of the country.
It s evident that micromanage sectors have reached their customers by giving them the security likes for example the adding up of insurance every time an individual avails the loan. Micromanage industry should not perish in our technological era, because it somehow improved the living and well-being of the entrepreneurial poor, agricultural poor. It helped a lot of people by giving their products and services, creating world a better place to live. ROLE OF MICROMANAGE IN THE ECONOMIC GROWTH OF SOCIETY By Xiii-Gaming