Microfinance and Financial Inclusion

Who is considered a pioneer of modern microfinance, particularly known for their work with Grameen Bank?

• Charles Darwin

• Lysander Spooner

• Mohammad Yunus

• Akhtar Hameed Khan

A core principle of microfinance is:

• Providing subsidized loans to the poor.

• Enabling the poor to increase incomes and build assets.

• Focusing solely on providing loans.

• Relying on government funding for sustainability.

Financial inclusion primarily aims to:

• Increase the profits of financial institutions.

• Promote the use of complex financial instruments.

• Eliminate the need for traditional banking.

• Make financial services available to more people at a reasonable cost.

Which of the following is NOT a typical service offered by microfinance institutions (MFIs)?

• High-risk investment products

• Savings accounts

• Insurance

• Marketing and distribution support

What is the significance of the G20 in the context of financial inclusion?

• They provide direct funding to MFIs.

• They endorse principles on SME financing and promote financial inclusion globally.

• They regulate all microfinance institutions worldwide.

• They primarily focus on developed countries' financial systems.

What is a significant trend observed in global financial inclusion over the last decade?

• A significant increase in the percentage of adults with access to an account.

• A shift away from focusing on the needs of marginalized populations.

• A decline in the use of mobile technology for financial transactions.

• A decrease in the number of adults with access to a financial account.

What is the role of financial technology (fintech) in financial inclusion?

• It complicates access to financial services.

• It primarily benefits large corporations.

• It replaces the need for traditional financial institutions entirely.

• It provides innovative tools to address inaccessibility and reduce costs.

According to the information provided, what percentage of the world's adults have access to a financial account?

• 76%

• 50%

• 90%

• 24%

Which of the following is NOT a reason cited for Filipinos not using mobile phones for financial transactions?

• Preference for branch or ATM transactions

• Lack of trust

• Strong mobile signal

• Lack of awareness

What percentage of poor people are women according to the text?

• 50%

• 70%

• 20%

• 90%