Financial Inclusion and Inclusive Development in Indonesia

Inclusive development is the key to general economic growth for any economy. In any place in the world, providing financial services to this overlooked section of society is a testing assignment. The Government in India has concerns about large underprivileged population that is still reluctant to be a part of standard monetary exercises. A slew of innovation in financial services such as technology and a couple of development endeavors are being mooted and implemented. The paper is planned to dissect current status of financial services in rural regions of Uttarakhand and to recognise factors impacting interest of financial services in this area. The study suggests that though access to financial services in rural territorial areas is reasonable, there is still room for improvement in financial infrastructure. The findings confirm the relationship among ancillary, support systems, financial apparatus and intended financial inclusive measures. The exhaustive correlational study also establishes the fact that working on constructive elements and variables would bring positive results in the field of financial inclusion drive in rural and suburban areas of Uttarakhand.

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THE ROLE OF COMMUNICATION IN SACCOS IN PROMOTING FINANCIAL INCLUSION IN KENYA

European Journal of Economic and Financial Research ◽

10.46827/ejefr.v4i2.871 ◽

2020 ◽

Vol 4 (2) ◽

Author(s):

Rose Ndegwa

Keyword(s):

Low Income ◽

Target Population ◽

Financial Inclusion ◽

Inclusive Development ◽

Primary Data ◽

Service Access ◽

Financial Exclusion ◽

Socially Excluded ◽

Descriptive Survey

Financial inclusion is a prerequisite to economic development. This has been echoed by international as well as national bodies. Studies have shown that financial exclusion has its roots in social exclusion. This indicates the depth and importance of financial inclusion in creating inclusive development. Numerous studies have revealed levels of financial inclusion with limited studies performed on the role of SACCO initiatives on financial inclusion. This research examined measures of financial inclusion which include both access and usage of financial products by low income earners and the socially excluded via SACCOs. Since access and usage are supplementary, they reflect a more vivid picture of financial inclusion. The study sought to analyze the role of SACCOs in promoting financial inclusion in Kenya. The study was guided by the three specific objectives: geographical coverage of SACCOs; cost and contribution of SASRA regulations towards enhancing financial inclusion. To achieve the objectives of the study a descriptive survey research was adopted. The target population was the three SACCOs in Meru town. 43 questionnaires were issued to SACCO members to access the level of financial service access. Primary data was analyzed with aid Microsoft excel software to generate frequencies, mean and percentages. Pie charts, graphs and tables were used to present various aspects of the variables. Content analysis was used to analyze qualitative while quantitative data was analyzed using descriptive statistics. JEL: O10; O20; G10; G20 Article visualizations:<img src="/-counters-/edu_01/0663/a.php" alt="Hit counter" />

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Digital Financial Knowledge and Behavior of Generation Z in Indonesia

10.4018/978-1-7998-8447-7.ch007 ◽

2022 ◽

pp. 96-117

Author(s):

Khairunnisa Musari ◽

Sutan Emir Hidayat

Keyword(s):

Future Generation ◽

Financial Inclusion ◽

Financial Knowledge ◽

Technology Literacy ◽

Inclusive Development ◽

Population Census ◽

Digital Era ◽

Generation Z ◽

Survey Results ◽

And Behavior

The Indonesian Population Census 2020 reported that the majority of Indonesia's population is in the productive age group and dominated by Generation Z (27.94%). As the generation that currently dominates the population, Generation Z's characteristics are important to learn. They are the future. Generation Z has the potency to accelerate Indonesia's financial inclusion through digitalization because they are adaptable to technology. Responding to the survey results which put Generation Z in Indonesia in the first rank for the levels of happiness and religious awareness, a survey was conducted for Islamic financial technology literacy to find out how they face challenges as well as opportunities in digital era to be in line with religious values and may accelerate financial inclusion. The great potential of Generation Z for technology as well as religious awareness in turn will support financial inclusion towards inclusive development in Indonesia. Hence, this chapter will describe the survey results of digital financial knowledge and behavior of Generation Z in Indonesia.

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THE ROLE OF COMMUNICATION IN SACCOS IN PROMOTING FINANCIAL INCLUSION IN KENYA

European Journal of Economic and Financial Research ◽

10.46827/ejefr.v4i2.865 ◽

2020 ◽

Vol 4 (2) ◽

Author(s):

Rose Ndegwa

Keyword(s):

Low Income ◽

Target Population ◽

Financial Inclusion ◽

Inclusive Development ◽

Primary Data ◽

Service Access ◽

Financial Exclusion ◽

Socially Excluded ◽

Descriptive Survey

Financial inclusion is a prerequisite to economic development. This has been echoed by international as well as national bodies. Studies have shown that financial exclusion has its roots in social exclusion. This indicates the depth and importance of financial inclusion in creating inclusive development. Numerous studies have revealed levels of financial inclusion with limited studies performed on the role of SACCO initiatives on financial inclusion. This research examined measures of financial inclusion which include both access and usage of financial products by low income earners and the socially excluded via SACCOs. Since access and usage are supplementary, they reflect a more vivid picture of financial inclusion. The study sought to analyze the role of SACCOs in promoting financial inclusion in Kenya. The study was guided by the three specific objectives: geographical coverage of SACCOs; cost and contribution of SASRA regulations towards enhancing financial inclusion. To achieve the objectives of the study a descriptive survey research was adopted. The target population was the three SACCOs in Meru town. 43 questionnaires were issued to SACCO members to access the level of financial service access. Primary data was analyzed with aid Microsoft excel software to generate frequencies, mean and percentages. Pie charts, graphs and tables were used to present various aspects of the variables. Content analysis was used to analyze qualitative while quantitative data was analyzed using descriptive statistics. JEL: O10; O20; G10; G20 Article visualizations:<img src="/-counters-/edu_01/0653/a.php" alt="Hit counter" />

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Does Financial Inclusion Promote Women Empowerment? Evidence from Bangladesh

Applied Economics and Finance ◽

10.11114/aef.v4i4.2514 ◽

2017 ◽

Vol 4 (4) ◽

pp. 169 ◽

Cited By ~ 2

Author(s):

Md. Nur Alam Siddik

Keyword(s):

Rural Women ◽

Family Study ◽

Financial Inclusion ◽

Inclusive Development ◽

Living Standard ◽

Women Empowerment ◽

Policy Makers ◽

The Family ◽

Cross Country ◽

Structured Questionnaire

Financial inclusion empowers individuals and families, especially women and the poor, and well-functioning financial systems enrich whole countries. While a plethora of literature exists in connection between the financial inclusion and women empowerment most of those are cross country studies and findings are mixed. And there is relative dearth of studies examining the nexus of financial inclusion and women empowerment of developing economy, particularly Bangladesh. This study attempted to fill this gap. In order to achieve the objective, a survey, by means of structured questionnaire, has been conducted on 500 rural women living in the Kurigram and Gaibandha district of Bangladesh during January to February 2017. Study reveals that financial inclusion increases women income, purchasing power, living standard and position in the family. Study also reveals that after availing financial inclusion progrmmes, rural women become able to meet their emergencies, give child better education, get better medical facility, reduce dependency on local money lenders which means that financial inclusion programmes promotes women’s economic empowerment. Findings of the study is of greater importance to the academicians, practitioners and policy makers of the country to design such packages as to foster financial inclusion which will lead to more women empowerment which in turn will lead to the inclusive development of the country.

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Measuring impact of financial inclusion on rural development through cooperatives

International Journal of Social Economics ◽

10.1108/ijse-02-2018-0057 ◽

2019 ◽

Vol 46 (3) ◽

pp. 352-376

Author(s):

Tarsem Lal

Keyword(s):

Factor Analysis ◽

Rural Development ◽

Structural Equation ◽

Financial Inclusion ◽

Inclusive Development ◽

Primary Data ◽

Inclusive Growth ◽

Content Type ◽

Depth Analysis ◽

The Impact

PurposeThe purpose of this paper is to measure the impact of financial inclusion on rural development through cooperatives.Design/methodology/approachThe primary data were collected from 540 beneficiaries of Cooperatives banks operating in three northern states of India, i.e., J&K, Himachal Pradesh and Punjab using purposive sampling during January to June 2016. Exploratory factor analysis, confirmatory factor analysis, ANOVA,t-test and structural equation modelling were used for scale purification and data analysis.FindingsThe findings of the study revealed that financial inclusion through cooperatives has direct and significant impact on rural development. Further, the results support the notion that financial inclusion is a strategy of inclusive growth, but inclusive growth itself is a subset of a larger set of inclusive development which means that the benefit must reach the all, particularly the women and the children, minority groups, the extremely poor and those pushed below the poverty line by natural and human-made disasters.Research limitations/implicationsThe research has certain inescapable limitations. First, the in-depth analysis of the study is restricted to three northern states of India only because of time and resource constraints. Second, the study is confined to the perception of financial inclusion beneficiaries only, which in future could be carried further on the perception of other stakeholders such as SHGs, banking correspondents, etc. Third, possibility of subjective interpretation in some cases cannot be ruled out.Originality/valueThe study makes contribution towards financial inclusion literature relating to sustainable rural development and fulfils the research gap to some extent by assessing the impact of financial inclusion on rural development through cooperatives.

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Financial inclusion in Ethiopia: Using core set of financial inclusion indicators

The International Journal of Social Sciences and Humanities Invention ◽

10.18535/ijsshi/v8i03.01 ◽

2021 ◽

Vol 8 (03) ◽

pp. 6396-6404

Author(s):

Tirngo Dinku

Keyword(s):

Financial Institutions ◽

Low Income ◽

Financial Institution ◽

Financial Inclusion ◽

Sub Saharan Africa ◽

Inclusive Development ◽

Low Income Countries ◽

World Bank Group ◽

Bank Account ◽

Sub Saharan

Financial inclusion is the key to inclusive development throughout the world. It is the access to get financial services such as saving, loan, insurance and others easily at an affordable cost, this study aims at evaluating the level of financial inclusion in Ethiopia in comparison with Sub Saharan Africa and low income countries. World Bank group 2017data on financial inclusion is used.The result shows access to have a bank account and account at other financial institution has been realized improvement to the year, where as it is far below the Sub Saharan African average. The major reason for not having a bank account or account at financial institutions in Ethiopia areinsufficient fund and financial institutions are too far away, while religious reasons and lack of trust on financial institutions are the least. No one pays utility bill digitally, the use of digital payment is very poor in Ethiopia; only three out of hundred individuals in Ethiopia used an account to receive government payments.

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Status and Priorities of Financial Inclusion in Ukraine

Business Inform ◽

10.32983/2222-4459-2020-10-294-300 ◽

2020 ◽

Vol 10 (513) ◽

pp. 294-300

Author(s):

I. V. Abramova ◽

Keyword(s):

Financial Literacy ◽

Financial Services ◽

Financial Education ◽

Financial Inclusion ◽

Inclusive Development ◽

Current Status ◽

Slow Development ◽

Economic Method ◽

Payment Cards ◽

The Status

The article is aimed at theoretical and methodological substantiation of the status and priorities of financial inclusion in Ukraine. The theoretical analysis of the issues raised in the research was carried out in accordance with the general methodological scheme of the system approach. In solving certain problems, the statistic and economic method was used – to assess the current status and tendencies of financial inclusion in Ukraine, as well as methods of comparative analysis and analogy – to determine the prospects for inclusive development of the financial system of Ukraine. It is substantiated that the status of implementation of financial inclusion in Ukraine during 2015-2019 is characterized by an increase in the number of non-cash transactions using payment cards, dynamic development of payment infrastructure in both the trade and the service networks. The author advances arguments that the important tasks of development and inclusiveness of the financial sector of Ukraine are the development of the National payment system «Ukrainian payment space», expansion of payment infrastructure and improvement of conditions for settlement transactions using payment cards, including in the Internet. It is proved that low incomes of the population, limited access to financial services, underdevelopment of payment infrastructure, low level of financial education and financial literacy of Ukrainians are the key reasons for the slow development of financial inclusion in Ukraine. It is determined that the prospects for the development of financial inclusion are connected with the creation of effective mechanisms for protecting the rights of consumers of financial services, conditions for increasing financial literacy of the population and its awareness of the services of both the banking and the non-bank financial and credit institutions, the development of payment infrastructure and digital technologies in the financial sphere.

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