What’s gone wrong with microcredit? asked Brian Keeley on this blog last month, in response to the growing furore in India and Bangladesh surrounding the activities of micro finance institution. Muhammad Yunus and the Grameen Bank are under attack from politicians in Bangladesh. In turn, Professor Yunus has become more vocal in his criticism of […]
Choosing a high-interest loan is a price worth paying
As government support for financial inclusion is due to end in April, campaigners, politicians and practitioners have been examining how to stop or replace high-cost credit. Read the rest by Faisel Rahman of Fair Finance in The Guardian
High-cost lenders are cashing in on spending review cuts
The spending review did nothing to protect public sector workers facing redundancy from high-cost lenders, who spot a business opportunity Read the rest by Faisel Rahaman of Fair Finance in The Guardian
Citi Supports Fair Lending in the UK
Citi’s commitment to boosting communities in need includes bringing microfinance lending to communities in need — even in developed countries. It’s been working with grassroots organizations including Fair Finance, a London-based social enterprise founded by Faisel Rahman, a former World Bank staffer. The goal of the partnership: support fair lending and financial services for local […]
Leading social lender faces eviction from deprived borough
Thousands of people in the deprived borough of Tower Hamlets could be forced into the hands of loan sharks if the council’s eviction of a successful social lender goes ahead. Read more by Gemma Hampson
How can we encourage poor people to save?
In the US banks and communities work together to promote saving. Why can’t the UK follow suit, asks Faisel Rahman. Read the rest by Faisel Rahman of Fair Finance in The Guardian
Microfinance sees demand leap
Small business owners in the UK are turning to microfinance, a system of credit more readily associated with helping people in developing countries escape poverty, as a result of high street banks continuing to refuse loan applications. Read more By Jonathan Moules, enterprise correspondent
Alternatives to payday lending need banks’ support
While banks charges remain punitive and non-profit alternatives small scale, there are few viable alternatives to payday lenders, Read the rest by Faisel Rahman of Fair Finance in The Guardian
