the mif blog

Stories of inspiring entrepreneurs and organizations, discussion and commentary of new trends in private sector development, and the latest events and publications.

What good is capital without customers? Financial inclusion is necessary for healthy societies

By Tomas Miller

The financial inclusion strategies that several countries in Latin America and the Caribbean are adopting and incorporating into their national development policies aim at increasing access to and use of financial services for segments of the population that have been excluded or underserved by financial systems. These policies assume that achieving a higher level of financial inclusion is a necessary condition for increasing the social inclusion of these excluded people. What good is having a solvent and liquid financial system if it serves only businesses and powerful families? What good is capital without customers? 

Financial Inclusion and Empowerment: MIF at the MasterCard Public Sector Payments Forum

By Tomas Miller

Microfinance has experienced continuous growth in Latin America and the Caribbean over the last 10 years. Nearly 15 million clients receive microcredits totaling nearly US$ 19 billion, as the latest MIF research shows. But as microfinance has grown, there’s evidence that there’s room for other financial services to grow. Innovative savings products have the potential to empower low-income population to become more financially independent, and take part in the financial system.

At the 2013 MasterCard Public Sector Payments Forum held this week in DC, the MIF was asked to present our learnings in financial inclusion and empowerment. I presented some recommendations on how to empower underbanked and unbanked clients, which I would also like to share with you here.

En españolInclusión financiera y empoderamiento