THE IMPACT OF MICROFINANCE BANK ON THE ECONOMIC DEVELOPMENT OF THE RURAL POPULACE
TABLE OF CONTENTS
Title page i
Table of content vi
1.1 Background of the study
1.2 Statement of the study
1.3 Purpose of the study
1.4 Scope and limitation of the study
1.5 Significance of the study
1.6 Research questions
1.7 Research hypothesis
1.8 Historical background of the case study
1.9 Definition of terms
2.0 Literature review
2.1 Historical development of banking in Nigeria
2.2 Pre-central banking and banking boomera 1952 – 1959
2.3 The era of banking 1958 – 1959
2.4 The era of deregulation (1986 – 1995)
2.5 Community bank of a new dimension in banking
3.0 Research methodology
3.1 Instrumentation and research design
3.2 Sample and sampling techniques
4.0 Data collection
4.1 Data analysis
4.2 Data interpretation
The failure of the mainstream banking has led t o development of specialized bank such as community banks, people’s bank, development bank among others. These institutions constitute the new dimension in banking.
Commercial and merchant bank which are reflected here as mainstream banks are important intermediaries of credit for all sectors of the economy. The Irony of the situation is that the banks re not interested in investing in productive sector of the economy rather they are interesting in investment that will bring a quick return banks for urban center,, their intermediating activities led in the marginalization of the rural centers and their populace in terms of development.
As rightly noted by “Ojo” that the role of the financial system in Nigeria leaves much to be desired sin term of financing economic development and presenting the country’s industrialization process. The maladapted structure and functioning of banks and other financial institutions have not significantly improved since independence three-decade age. These short stated led to conventional banks as earlier stated led to the development of people oriented banks like community with basic needs of majority as the focus.
With high concentration of mainstream banks in urban centers and a programmed which in 1977 to converse mainstream bank establish by the end of phase 3 June 1993 total deposit incred to 1.3 billion and total stood at #5.1 billion despue these statistics actual impact on peasant agriculture and rural development was negligible as banks complain of lack of infrastructure and security.
Hence, the introduction of community banks as one of the institutions designed to current malfunctioning of the rural banking scheme became.