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Financial Services (105)

Local microcredit

Local microcredit

The Russian post office has launched a new financial product for consumers. They can get a microcredit loan (between $100-200 USD) in any post office branch simply by presenting a piece of identification.

Why it matters

Microcredit is something that has really taken off in underdeveloped countries and is usually associated with business development. Will this niche offering attract local customers considering the small amounts loaned?

Instant Gratification
Financial Services
Russia
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