Microfinance aimed to foster prosperity but stoked hardship for those borrowers who took on debt they couldn’t afford.

Microfinance—which started as microcredit after independence—now covers a range of financial products and services, such as savings, credit, insurance, payments, and money transfers. The core, however ...

The internal watchdog of the International Finance Corp. found that the lenders pressured borrowers to keep paying back loans ...

For millions of people without access to traditional banking, the internet is a lot more than a place to share the latest family photos. It’s an opportunity to tell their stories and gain access to ...

Dhaka—In August, Bangladeshi police broke up a ring of human organ dealers operating in Joypurhat, a district in the north of the country. Investigators say that three local “brokers” preyed on a ...

The revocation of the operating licenses of 13 microfinance banks in Kano has raised concerns among customers and small ...

The Central Bank of Nigeria has revoked the operating licences of 46 microfinance banks across the country, citing their failure to meet key regulatory requirements for continued operations. The apex ...

On the list of the 46 microfinance banks whose licences were revoked, Kano State accounted for the highest number with 13 banks, followed by Lagos with eight.The Central Bank of Nigeria (CBN) has ...

The Central Bank of Nigeria, CBN, has revoked the operating licences of 46 microfinance banks across the country for failing to meet regulatory requirements.