Very simply put, personal finance looks into how your money is managed. From budgeting to investing and from debt to insurance, personal finance management is often considered challenging, especially when managing a restricted budget.
Over the past decades, financial institutions worldwide or banks, in particular, have had to deal with the pressures of an industry that is continuously changing its game. New, or updated, market regulations, increasing defaults on loans due to unemployment, collapses in the housing market, and rising overhead costs, have all exhausted the banking system. Moreover, the fragmentation between large transaction volume branches and low transaction volume branches has substantially impacted numerous banks all over the world.
Frequently referred to as the blood which fuels an organization’s operations, cash is an economic reality that cannot be overlooked. Fulfilling cash requirements on a short term by either collecting, managing or investing is a fundamental responsibility of business managers and corporate treasurers.
In a recent report, CERISE (Comité d’Echanges, de Réflexion et d’Information sur les Systemes d’Epargne-crédit) presents the progress of social performance assessment during the past few years, being influenced by social audits, social ratings and reporting standards.
Microfinance institutions (MFIs) are mainly private-held companies, whose owners tend to have long-term interests (Ingo, W., Krauss, N. 2008). Most MFIs are strongly related with a social mission. For example, the most common “raison d’être” for MFIs is to broaden access to financial services, reduce poverty, empower women, build community solidarity, or promote economic development and regeneration.