The community based cooperatives model of financial services has - TopicsExpress

The community based cooperatives model of financial services has been proven an effective model for providing financial and and non-financial services for the poorest community living in the hills, mountains and rural areas. Cooperatives are defined as a community based, member owned, managed and controlled organisation. Cooperatives are structured for the sole purpose of providing desired service to members and each member is an owner, shareholder, decision-maker, and client. Therefore, a cooperative can tailor its policies and services specifically to meet the needs of its members in isolated villages of Nepal. Cooperatives operate under the guidelines of seven widely accepted principles prescribed by International Cooperative Alliance. These principles serve as the foundation for good cooperative management.