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Faith In Lending: The Effects Of Religion On Microfinance
Yarnell, Tyler
Yarnell, Tyler
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2014
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2014-05-02
Abstract
Religion plays a distinct role in microfinance. This paper seeks to identify, through an inductive case study of two microfinance institutions (MFIs), the impacts of religion on development through a religious financial analysis. The study concludes there are positives and negatives, and the differences can be powerful. The differences are powered by a set of shared values and core principles that religion promotes, making the religion-microfinance nexus distinct and unique; the two weigh heavily upon each other. Religion brings an emphasis on universally applicable values and development is a vehicle for value fulfillment. In the microcosm of the study, religion promotes lowered borrowing costs, connects the organization to the community on a deeper level than in its absence, and encourages microcredit+ services that work to alleviate needs that are non-economic. However, there are lowered rates of return and portfolio yields because lower interest rates are charged and financial profitability is often held in question.
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Finance