ENTERPRISE IN MANAMA - KINGDOM OF BAHRAIN.

To investigate the social impact of microfinance enterprise in Manama - Kingdom of Bahrain.

Abstract

Poverty and unemployment has been a major problem for developing nations especially in the regions of South Asia, Middle East and North Africa. Several solutions have been suggested over the years to increase the rate of employment and reduce poverty in these countries and different strategies have been implemented to tackle with worsening economic conditions in countries with a large populace living in poor economic conditions. The concept of microfinance and micro credit has proved to be quite effective and this effectiveness has been acknowledged by economists around the globe. The Grameen Bank won the Nobel Prize jointly with its founder Muhammad Yunus for outstanding achievements in poverty alleviation by extending small and medium sized loans to men and women in Bangladesh. This model has been applied by several other countries to promote small home based businesses for coping with rising unemployment and poverty figures. Micro finance and micro credit are one of the best tools to reduce poverty and promote social and economic development in a country. South Asian, Middle Eastern and North African countries have initiated micro finance programs to provide for low-cost small and medium loans to families and individuals and especially to women who work from their homes running small sized businesses. Bahrain is one of the countries to implement the microfinance framework to reduce poverty in the country and the government has also acquired the support of Grameen bank in this regard. The previous researches and books provide a firm foundation for further research to be carried out in the area of microfinance. The current research is based on the concept of microfinance and micro credit and analyses the impact and effects of microfinance on poverty reduction and social development. The research indicates that implementation of microfinance lowers the poverty rate gradually while the rate of social and economic development increases. The research has been carried out using a qualitative approach and the secondary data for this research was collected from books, articles and websites. The research presents a conclusion by accepting the research hypothesis that implementation of a microfinance framework results in poverty reduction and increased social and economic development.

Acknowledgement

This research is quite significant and a highlight of my academic career. This research has proved to be the core of my academic experience and the extensive research required for this dissertation has allowed me to study and absorb the concepts, techniques and theories which I would not have explored if this research had not been performed. I am thankful to several people who have supported me and given me guidance and motivation during the exhaustive process of researching. The first and most important person I would like to thank is my advisor____________________ who served as a beacon throughout the research process. The guidance and motivation provided by my instructor during the different phases of my research such as preparing an appropriate proposal, completing the structure of ...