Analysis of the Strategy of Microfinance for Financial Inclusion of Refugees

Microfinance has brought a change in the economic life of participants of the society by providing an opportunity to the financially challenged individuals to become financially independent. Microfinance is a financial instrument that can be utilized to combat poverty and other challenges hindering the progress of countries. As of 2017, the global figures of microfinance confirm that microfinance has impacted the lives of more than 139 million people and has distributed more than $114 billion throughout the world. In Turkey, microfinance has radically transformed the lives of more 180.000 financially challenged individuals. Turkey continues to be home to the world’s largest refugee population which is approximately 4 million. Therefore, the objective of the research is to research the feasibility of microfinance as an appropriate strategy for the financial inclusion of refugees in Turkey.KeywordsMicrofinance, Poverty and RefugeeValueThe research paper aims to analyze different aspects of the microfinance system for the Syrian refugees with the purpose to provide a model for financial inclusion and social integration for the microfinance organizations.Key resultsThe results and recommendations of this research will contribute to better policy-making strategies for the nonprofit organizations to assist the refugees.Design/Methodology/ApproachThe research paper provides a microfinance model of financial inclusion and social integration for the refugees in Turkey.