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Liquidity Crisis Grounds Micro-Finance Interbank Money Market.
Byline: Babajide Komolafe
Less than one year after take off, the microfinance interbank money market has collapsed following default by participating microfinance banks.
The microfinance interbank money market initiated by Financial Derivatives Company Limited took off formally April last year off with five microfinance banks, namely Accion Microfinance Bank, Integrated Microfinance Bank, MIC Microfinance Bank, Gapbrige Microfinance Bank and Susu Microfinance Bank.
It was however gathered that the trading banks declined to two. A source close to Kakawa Discount House, which is the clearing house for market, told Financial Vanguard that the along the market …
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