A study of people taking out microfinance loans in Benin,Georgia, Pakistan and Peru has found that too many people are borrowing blind’With 700m recent accounts opened between 2011 and 2014, and more people than ever hold a bank or mobile money account. But many of the recent consumers are in poor countries,and people with low incomes are often more vulnerable to abuses when they borrow, save or send money.
The Smart Campaign, and a consumer movement,surveyed 4000 microcredit borrowers in four countries. Their responses were documented in a report, It’s My Turn to Speak. Continue reading...
Source: theguardian.com