Newsletter 151 borrador 3ok

What are financial institutions’ social responsibilities in developing countries? On the one hand, they have the generic responsibilities of all human organizations and business enterprises. On the other, their specific social responsibility is to perform the social function of financial intermediaries, which in the case of emerging countries is mainly to contribute to economic growth and help solve the problem of poverty. In this paper we describe a number of technical-economic and moral problems and consider the performance of banking operations in microfinance, with special reference to Latin America. We also offer a series of recommendations which, in addition to contributing to solving the development and poverty problems in emerging countries, help define financial institutions’ social responsibility