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Remarks based on a Transcel/DBJ policy assessment
Microfinance is widely viewed as a potent instrument for reducing poverty, enabling the poor to accumulate assets, and reduce their vulnerability to economic stress.  One of the major challenges the industry faces in Jamaica is the cost of disbursing loans and collecting loan payments.  More significantly it is the single greatest obstacle to MFI’s lowering the comparatively high interest rates they charge on microloans.   Another hurdle to the widespread adoption of microfinance is the difficulty in accessing rural populations.  For both of these challenges - and many others which tend to hobble the expansion of micro-financial services -- a potential solution is Mobile Money...