Version:0.9 StartHTML:0000000105 EndHTML:0000007216 StartFragment:0000000141 Micro finance institutions carry on the business of financial institutions on commercial basis, which entails, among others, acceptance of deposits/savings, and withdrawal by cash, cheque or otherwise participation in inter-bank clearing systems on behalf of the customers (Microfinance Support Center Journal, 24th November 2006) Personal and business savings and revenue stream comprise, transactional products which include products associated with various points of contacts channels with clients such as automated teller machines(A TMS) and branches, including deposit taking activities, electronic banking and cheque accounts.(Grave,1999)
Hence for micro finance institutions to realize the net impact of saving on the growth of their market share they ought to adopt the following strategies, among others, introduction of a new and unique saving product, including personal asset loans pegged to it, the refinement of residential and mortgage finance, the re-introduction of current accounts and their related services, the introduction of executive and private banking to facilitate customized solutions to individuals, the introduction of visa debit cards which allow globe access to card holders when traveling. lt also creates a financial interface to tourists visiting Uganda via the technology
installed on all automated teller machines and the introduction of the point of sale services which aims to revolutionize the Manner in which business will be conducted. This will increase the security and integrity of transactions. (Altman, 2005)