Abstract
Microfinance's worldwide recognition has been credited to Prof. Dr. Muhammad Yunus who is the founder of the Grameen Bank in Bangladesh and recipient of the 2006 Nobel Peace Prize. Most microfinance studies in Bangladesh are limited to either one or two major MFIs or to the overall impact on clients’ poverty reduction, improvement in health and social status, enhancement of women entrepreneurship and empowerment, etc. This study aims at understanding the management part of micro finance and its prospect of application in Bangladesh. The article also looks into the contribution of micro finance in Bangladesh economy together with sources of fund for such micro finance institutes. Different types are: savings and credit cooperatives, NGOs, programs established by international organizations, legally-recognized micro-finance institutions, and micro-finance banks, and their sizes greatly vary, from 100 clients to over 6 million clients for the largest. MFIs offer not only basic financial services but also savings accounts, loan products and insurance.
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