Microfinance institutions, in their efforts to improve outreach and expand the range of financial services offered to the poor, have recurred to more and more sophisticated financing instruments, including securitization. The paper explores the advantages offered by this form of funding as well...

Microfinance is a new, varied and intriguing sector for academics, practitioners and regulators. The current debate about financial sector reforms after the global financial crisis, the recent phenomenon of commercialization of microfinance and related criticism including scandals about...