The Village Bank

Paper Summary:

This paper discusses the topic of village banking in developing countries. Africa is examined as a case study/example because it is involved with many village banking ideals and these are spreading into both developed and developing countries. Village banking is also discussed in the literature review as is the banking concept in general, small businesses, and developing countries, as it is important to see how all of these issues come together. Furthermore, the paper attempts to ascertain the success rate of village banking in developing countries with a focus on the organizational culture of village banking, non-village banking, and the people in developing countries. All of these cultures and their differences are then analyzed and compared to determine the success of the village banking system in developing countries.

Table of Contents:
Introduction
Small Businesses and Globalization
Conflict and Diversity
The Digitalization of the Economy
Developing Nations, Foreign Investors, and Global Trade Issues - Mergers and Acquisitions
Chart: Sectoral Distribution of FDI Inward Stock 1990 and 2000
Village Banks
Conclusion

From the Paper:

"Many people liken village banking to Islamic banking, largely because "religious laws in Islam govern all aspects of life." In writing about Islam, it has been explained that Islam is often seen as a very complete and comprehensive way of life, and that this way of life is both religious and secular. Islam is, therefore, not only a set of beliefs and way of worship but also an integrated and very vast system of laws. Islam is also a civilization and a culture, a commercial norm and an economic system, and a governance method for all that belong to it."

Sample of Sources Used:

• Calderon, C., Loayza, N., & Serven, L. (2004). Greenfield foreign direct investment and mergers and acquisitions: feedback and macroeconomic effects. World Bank Policy Research Working Paper 3192. http://www.rpi.edu/~leshcd/classes/MBA-2/Greenfield_and _Mergers.pdf.
• Carruthers, B. 1995. Accounting, ambiguity, and the new institutionalism. Accounting, Organisations and Society 20, 313-28.
• Carruthers, B. & W. Espeland 1991. Accounting for rationality: double-entry bookkeeping and the rhetoric of economic rationality. American Journal of Sociology 97, 31-69.
• Chapra, M.U. 1992. Towards a just monetary system. Leicester: The Islamic Foundation.
• Choudhury, M.A. 1997. Money in Islam: a study in Islamic political economy. London: Routledge.

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