Microfinance in Asia

This work is a commendable effort in the exploration of the conceptual framework of microfinance and its various mechanisms for the alleviation of poverty in some Asian countries. It is a book teeming with first-hand information because most chapters emanate from academic and field research backed by statistical data. Microfinance gained prominence because it provides an outlet for the poor who saffer from financial exclusion. Banks usually do not help poor people because, as financial intermediation, they need proper data to mitigate the credit risk they would face. There is also the problem of getting appropriate guarantees for any loan given. For this reason, the microfinance sector is in place to help people in the lower strata of society. The book details many microfinancial attempts in Asian countries to address poverty alleviation. The book is divided into eleven chapters, eight of which address the microfinance experiences of eight different countries. The remaining chapters are reflections on microfinance and microcredit issues, which explains certain overlapping of products in a few chapters.