What are Microfinance Institutions?
Like a bank, a microfinance institution is a provider of credit. However, the size of the loans is smaller than those granted by traditional banks.
List Of Microfinance Institutions In Zambia
Bayport Financial Services
Blue Financial Services
Letshego Financial Services
Meanwood Finance Corporation
Mtawila Financial Services
Who regulates microfinance institutions in Zambia?
The process of developing the regulations started in 1999, culminating in the passing of the Banking and Financial Services (Microfinance) Regulations (MFRs) which became law on 30 January 2006.
The responsibility of regulating and supervising the financial sector11 lies with the central bank, the Bank of Zambia.
When did microfinance start in Zambia?
The guarantee scheme was set up in the early 1980s by the government and administered through the Bank of Zambia, to encourage financial services
(Maimbo and Mavro provided to the small-scale farmers through the then Land Bank.