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Nogent-sur-Marne
Financial Inclusion: New Avatar of Financial Deregulation?
Revue Tiers Monde
The starting point of the proposed analysis is based on the acknowledgement that the growth of microfinance, from 1980 onward, occurred in the liberalization context of lenient states. The sector has organized itself largely outside of any legal and regulatory framework – that of the banking sector in particular – which fostered innovation, but also led to a variety of risks in the emerging organizations such as fraud or bankruptcy. Over thirty years later, there are only a few countries where this activity, in a broad sense, is not governed by specific regulations, sometimes as an exception to the general banking law, sometimes integrated into it.
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