| Abstract: |
The prime objective of this paper is to explain the concept of monetary
payments as a foundation of an analytical construction of microfinance
institutions (microbanks) and official banks (banks) functional
complementarity's in Less Developing Countries (L.D.C's). The second objective
is to show that in L.D.C's production process, part of the non spent generated
income is preserved after the payment operation, in the form of deposits
accounts near microbanks and banks. The share preserved near microbanks, when
it is not used to finance consumer expenditure and the income generating
activities, is often invested in a portfolio of deposits account near banks.
Microbanks are structurally complementary to banks. They are, for this
purpose, a "super deposits accounts de facto" for households which do not have
access to banks financial services. From a functional point of view and taking
into account their role in microfirms production cost funding, microbanks
cause monetary income generation. They are "banks de facto" and are
functionally complementary to banks in L.D.C's. |