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Part II examines the process through which micro financial systems were swiftly developed as a microfoundation of the new "democratic" socio-economy.
A burgeoning market for micro financial institutions (MFI) is set to take hold.
Multi-nationals and micro financial institutions are both highly involved with remittances, but as Muhammad stated, "finance is like football".
At the end of the day, the goal of both micro financial institutions and multi-national financial corporations should be full financial inclusion.
Muhammad is a purist and despairs of both the multi-nationals taking advantage of the poor and micro financial institutions earning more than 10% over expenses from the same population.
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In the 1990s we discovered micro-credit and made peace with cash loans, but only if we changed enough interest and service fees to build sustainable micro-financial institutions (MFIs).
However, micro-financial institutions activities are a good source of financing resources, as constrained poor farmers abound these activities should benefit the farmers as well as the nation in its quest for financial inclusion.
Fonkoze, like most micro-financial institutions around the world, is based on Muhammad's work.
I also agree with Muhammad that micro-financial institutions should not strive to be highly profitable multi-national corporation, keeping profits over expenses under 10%.
We also present a rapid and robust numerical procedure for optimizing the control policy; these methods also have wide applicability in engineering, micro-economics and financial economics.
We figured we could learn a lot from their capitalistic ways, so we asked some of these micro-entrepreneurs for financial advice.
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