Economics · Financial Institutions

Which of the following statements best defines a Micro Finance Institution (MFI)?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1MFIs are regulatory government agencies that govern the microfinance sector.
2MFIs are commercial banks that provide corporate loans exclusively to large corporations.
3MFIs are financial institutions that provide financial services to low-income individuals and small businesses.✓
4MFIs are investment firms that cater exclusively to high-net-worth individuals.

Correct answer

MFIs are financial institutions that provide financial services to low-income individuals and small businesses.

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