The Evolution of Microfinance
Meme, Joy, Alhassan, Yahaya and Bellamy, Lawrence (2025) The Evolution of Microfinance. In: Microfinance, Financial Innovation, and Sustainable Entrepreneurship in Economics. IGI Global, pp. 1-22. ISBN 9798369366226
Item Type: | Book Section |
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Abstract
This chapter explores the evolution of microfinance by reviewing existing literature. The chapter reviews the development of microfinance to understand how the concept emerged and the extent to which it has evolved. It specifically explores the history of microfinance and how it evolved in some countries before and after the emergence of Muhammad Yunus's microfinance era. The chapter concludes that the evolution of microfinance is a testament to its adaptability and resilience which started as a tool for poverty alleviation and has since transformed into a multifaceted industry that empowers marginalised individuals and communities while contributing to economic development. However, there are variations in opinions regarding the origins of microfinance as some researchers argue that it started in the 15th century, while others claim it was in the 17th or the 19th century. This analysis provides insights into how microcredit evolved into modern microfinance.
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Identifiers
Item ID: 18774 |
Identification Number: https://doi.org/10.4018/979-8-3693-6622-6.ch001 |
ISSN: 2327-5685 |
ISBN: 9798369366226 |
URI: http://sure.sunderland.ac.uk/id/eprint/18774 | Official URL: https://www.igi-global.com/chapter/the-evolution-o... |
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Date Deposited: 18 Mar 2025 11:20 |
Last Modified: 18 Mar 2025 11:20 |
Author: |
Joy Meme
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Author: |
Yahaya Alhassan
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Author: | Lawrence Bellamy |
University Divisions
Faculty of Business, Law and Tourism > Sunderland Business SchoolSubjects
Business and Management > Business and ManagementActions (login required)
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