THE DEMAND FOR MODERN MICROFINANCE SERVICES IN BANGLADESH
Keywords:
Digital-based Microfinance, Microcredit, Microfinance, Online Banking ServicesAbstract
For several decades, microfinance services have benefited a variety of low-income households and small businesses in a variety of ways; nevertheless, the digital-based modern microfinance services may provide obstacles to users used to conventional services and those without access to technology. Thus, this study will examine the demand for modern microfinance services in Bangladesh, as well as the variables that influence such demand. The examination was conducted through microfinance clients in Bangladesh via an online survey and the data then were analysed by ANOVA test. The findings show that household income, religion, residence district, current microfinance programme, and loan repayment schedule influence the demand for modern microfinance services. The paper suggests that microfinance institutions should develop microfinance programmes with appropriate loan terms and repayment schedules in order to attract new customers, and should prioritise customers who live in remote areas with restricted access to microfinance services in order for their lives to improve as a result of microfinance assistance.
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