scholarly journals Negotiating debts and gifts: financialization policies and the economic experiences of low-income social groups in Brazil

2014 ◽  
Vol 11 (1) ◽  
pp. 191-221 ◽  
Author(s):  
Lúcia Müller
Keyword(s):  
Everyday Life ◽  
Financial Institutions ◽  
Low Income ◽  
Financial Services ◽  
Social Groups ◽  
The State ◽  
Brazilian Population ◽  
Financial Inclusion ◽  
Financial Resources ◽  
Economic Experience

Over the last decade, the supply of credit and other financial services reached various sectors of the Brazilian population that had previously been marginal to these markets. Through a study of how members of these segments experience so-called "financial inclusion," it becomes evident that while it implies submission to rules, procedures and calculations determined by market-based rationales and moralities, the use of these financial resources and tools does not lead to the prevalence of these principles in the economic experience of their users. In everyday life, these principles are combined with and even subordinated to others (gifts, selflessness) in situations of confrontation and negotiation that involve individuals, groups, networks (family, neighbourhood groups, cohabitation) as well as the state and the financial institutions themselves.

scholarly journals Financial Inclusion of the Region: Analysis of the State and Ways of Ensuring

2019 ◽  
pp. 61-74
Author(s):  
Andrii Matkovskyi ◽  
Vitaliia Skryl ◽  
Ruslana Shtanko
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Rural Population ◽  
The State ◽  
Current Level ◽  
Financial Inclusion ◽  
The Media ◽  
State And Local ◽  
Urgent Action

Financial inclusion of the region is a means of making full use of the financial services industry's tools, which ultimately contributes to the long-term economic growth of the region, as it stimulates innovation, mobilizes savings and supports investment. The paper analyzes the current level of financial inclusion of the Poltava region. The study showed that the current level of financial inclusion of the Poltava region is low. Surveys of the respondents showed that there is a large disproportionate level of financial inclusion among urban and rural population. The rural population is limited in financial services. There is still a significant lack of confidence in financial institutions. All this slows down the processes of full involvement of the population in financial inclusion and creates a shadow sector. However, remediation is observed in urgent action by both the state and local authorities and financial institutions. Continuous information in the media and social networks in the future will be able to restore confidence in financial institutions and thus increase not only the level of financial inclusion, but also every inhabitant of the Poltava region.

scholarly journals A Legal Analysis of the Use of Innovative Technology in the Promotion of Financial Inclusion for Low-Income Earners in South Africa

2021 ◽  
Vol 24 ◽  
pp. 1-27
Author(s):  
Howard Chitimira ◽  
Phemelo Magau
Keyword(s):  
South Africa ◽  
Financial Institutions ◽  
Low Income ◽  
Rural Areas ◽  
Financial Services ◽  
Informal Settlements ◽  
Financial Inclusion ◽  
Innovative Technology ◽  
Financial Exclusion ◽  
The Government

The promotion of financial inclusion is important for the combating of financial exclusion in many countries, including South Africa. Nonetheless, most low-income earners living in rural areas and informal settlements are still struggling to gain access to basic financial products and financial services in South Africa. This status quo has been caused by a number of factors such as the absence of an adequate financial inclusion policy, the geographical remoteness of financial institutions to most low-income earners, rigid identity documentary requirements, a lack of access to reliable and affordable Internet connection by low-income earners living in informal settlements and rural areas, a lack of financial illiteracy, the high costs of financial services, unemployment and poverty, over-indebtedness, and cultural and psychological hindrances to low-income earners in South Africa. Consequently, these factors have somewhat limited the access to financial services offered by financial institutions to low-income earners living in rural areas and informal settlements. In many countries, including South Africa, the financial sector is relying on innovative technology, especially in banking institutions, to aid in the offering of financial services to their customers. It is against this background that this article discusses selected legal and related challenges affecting the regulation and use of innovative technology to promote financial inclusion for low-income earners in South Africa. The article further discusses possible measures that could be adopted by the government, financial institutions and other relevant regulatory bodies to promote the use of innovative technology to combat the financial exclusion of low-income earners in South Africa.

scholarly journals Issues and Challenges of Financial Inclusion Among Low-Income Earners In Rural Areas of Malaysia

2021 ◽  
Vol 8 (Special Issue) ◽  
pp. 277-299
Author(s):  
Salihah Sharizan ◽  
Nur Harena Redzuan ◽  
Romzie Rosman
Keyword(s):  
Financial Institutions ◽  
Low Income ◽  
Rural Areas ◽  
Financial Literacy ◽  
Financial Services ◽  
Financial Education ◽  
Financial Inclusion ◽  
Primary Data ◽  
Structured Interviews ◽  
Finance Industry

Financial inclusion (FI) appears to be one of the main global agendas as it is an essential way of reducing poverty and increasing the economic growth of a country. FI is the provision of financial services to all segments of society in a more convenient, quality, and affordable way. In this study, the authors analyzed the issues and challenges faced from the two perspectives of the Financial Institutions (FIs) and the rural B40 group concerning the way of pursuing the exclusive of FI. Primary data was collected by conducting semi-structured interviews with four expert bankers from the Financial Institutions (FIs) in Kuala Rompin, Pahang, and two representatives from the B40 customers in the rural areas of Pekan, Pahang, Malaysia. Based on the findings, barriers faced by the supply sides of the FIs include 1) high risk of cost and security, 2) barriers in communication and lack of financial education, and 3) lack of proof documents. The other challenges are 1) competition with the conventional institutions, 2) default risk due to non-payment, and 3) internet connection problem. On the demand side, the issues and challenges found include 1) lack of confidence, 2) lack of proof documents, 3) misuse of capital, and 4) lack of financial literacy. Henceforth, the findings have significant implications for the Islamic banking and finance industry in exploring the current barriers faced in delivering financial inclusion to the lower segment of the society in Malaysia.

Realising financial inclusion in Islamic finance

2019 ◽  
Vol 11 (1) ◽  
pp. 143-160 ◽  
Author(s):  
Akilu Aliyu Shinkafi ◽  
Sani Yahaya ◽  
Tijjani Alhaji Sani
Keyword(s):  
Financial Institutions ◽  
Low Income ◽  
Financial Services ◽  
Public Awareness ◽  
Financial Inclusion ◽  
Islamic Finance ◽  
Content Type ◽  
Financial Infrastructure ◽  
Islamic Financial Institutions ◽  
Regulatory Commitment

Purpose The purpose of this paper is to evolve a theoretical account that highlights the determinations for achieving financial inclusion in Islamic finance. Design/methodology/approach The methodology used is a library approach where the existing and relevant document remains the sources of concern. Findings The outcome of the study designates that robust technology; microcredit and microfinance services; legal and regulatory commitment of the regulators and policymakers of the Islamic financial institutions; extensive public awareness of Islamic financial services and products; financial proficiency and literacy; and financial infrastructure are some of the imperative drives for realising financial inclusion particularly for women, low income earners and rural poor. Research limitations/implications The paper limited itself to realising financial inclusion in Islamic finance. Thus, anything beyond the stated limitation is outside the scope of our objective. The paper has an inference for the concerned professional bodies, regulators, policymakers, stakeholders and practitioners of Islamic financial institutions. Originality/value The paper is original in its nature, it is also a pearl and a reference to those who may conceive and cherish the relevance of its capacity.

FINANCIAL STABILITY AND FINANCIAL INCLUSION: THE CASE OF SME LENDING

2018 ◽  
Vol 63 (01) ◽  
pp. 111-124 ◽  
Author(s):  
PETER J. MORGAN ◽  
VICTOR PONTINES
Keyword(s):  
Low Income ◽  
Financial Services ◽  
Financial Stability ◽  
Developing Economies ◽  
Empirical Studies ◽  
Bank Lending ◽  
Financial Inclusion ◽  
Nonperforming Loans ◽  
Z Scores ◽  
Negative Impacts

Developing economies are seeking to promote financial inclusion, i.e., greater access to financial services for low-income households and firms. This raises the question of whether greater financial inclusion tends to increase or decrease financial stability. A number of studies have suggested both positive and negative impacts on financial stability, but very few empirical studies have been made. This study focuses on the implications of greater financial inclusion for small and medium-sized enterprises (SMEs) for financial stability. It estimates the effects of measures of the share of bank lending to SMEs on two measures of financial stability — bank nonperforming loans and bank Z scores. We find some evidence that an increased share of lending to SMEs aids financial stability by reducing non-performing loans (NPLs) and the probability of default by financial institutions.

scholarly journals Challenges Facing Financial Inclusion Due to the COVID-19 Pandemic

2020 ◽  
Vol 3 (2) ◽  
pp. 50
Author(s):  
Tea Kasradze
Keyword(s):  
Low Income ◽  
Small And Medium Enterprises ◽  
Financial Inclusion ◽  
Financial Resources ◽  
Financial Products ◽  
The Poor ◽  
Wide Range ◽  
Medium Enterprises ◽  
The Impact ◽  
Poor Population

Financial inclusion is often considered as an access to financial resources for the wide public and small and medium-sized businesses, although it is a much broader concept and includes a wide range of access to quality financial products and services, including loans, deposit services, insurance, pensions and payment systems. Mechanisms for protecting the rights of consumers of financial products and services are also considered to be subject to financial inclusion. Financial inclusion acquires great importance during the pandemic and post-pandemic period. The economic crisis caused by the pandemic is particularly painful for low-income vulnerable population. A large part of the poor population who were working informally has lost source of income due to lockdown from the pandemic. Remittances have also been reduced / minimized, as the remitters had also lost jobs and are unable to send money home. Today, when people die from Coronavirus disease, it may be awkward to talk about the financial side of a pandemic, but the financial consequences can be far-reaching if steps are not taken today to ensure access to and inclusion of financial resources. The paper examines the impact of the pandemic on financial inclusion and the responses of the governments and the financial sectors to the challenge of ensuring the financial inclusion of the poor population and small and medium enterprises.

scholarly journals The Nexus between Mobile Money Regulation, Innovative Technology and the Promotion of Financial Inclusion in Zimbabwe

2021 ◽  
Vol 24 ◽  
pp. 1-33
Author(s):  
Howard Chitimira ◽  
Elfas Torerai
Keyword(s):  
Low Income ◽  
Rural Areas ◽  
Financial Services ◽  
Banking Sector ◽  
Regulatory Framework ◽  
Financial Inclusion ◽  
Innovative Technology ◽  
Technological Innovations ◽  
Mobile Money ◽  
The Poor

The advent of mobile money innovations has given people in rural areas, informal settlements and other poor communities an opportunity to participate in Zimbabwe's mainstream financial economy. However, the technology-driven money services have presented some challenges to the traditional banking sector in general and the regulation of financial services in particular. Firstly, most mobile money services are products of telecommunication corporations, which are not banks. Telecommunication companies use their network reach to provide mobile money services via mobile devices at a cheaper cost than banks across the country in Zimbabwe. As such, banks face unprecedented competition from telecommunications companies that are venturing into financial services. It also appears that prudential regulation of banks cannot keep up with the fast pace at which technological innovations are developing and this has created a disjuncture between the regulation and the use of technological innovations to promote financial inclusion in Zimbabwe. The Banking Act [Chapter 24:20] 9 of 1999, the Reserve Bank of Zimbabwe Act [Chapter 22:15] 5 of 1999 and the National Payment Systems Act [Chapter 24:23] 21 of 2001 have a limited scope in terms of the regulation of mobile money services in Zimbabwe. The Ministry of Finance and Economic Development launched the National Financial Inclusion Strategy (NFIS) 2016-2020 to provide impetus to the financial inclusion of the poor, unbanked and low-income earners in Zimbabwe. However, the NFIS appears to push more for bank-led financial inclusion than it does for innovation-driven initiatives such as mobile money services. This article highlights the positive influence of mobile money services in improving financial inclusion for the poor, unbanked and low-income earners in Zimbabwe. The article also seeks to point out gaps and flaws in the financial services regulatory framework that may limit the potential of mobile money services to reach more people so that they actively participate in the Zimbabwean economy. It is submitted that the Zimbabwean mobile money services regulations and the financial regulatory framework should be carefully amended in line with the recent innovations in mobile money to adequately regulate the use of mobile money services and innovative technology to address the financial exclusion of the poor, unbanked and low-income earners in Zimbabwe.

scholarly journals Customers‟ Perception of India Post Towards Financial Inclusion Services with Reference to Ariyalur District

2019 ◽  
Vol 8 (12) ◽  
pp. 1119-1128
Keyword(s):  
Low Income ◽  
Financial Services ◽  
Financial Inclusion ◽  
Primary Data ◽  
Post Office ◽  
Customer Perception ◽  
Aged Person ◽  
The Mean ◽  
Convenience Sampling ◽  
One Way Anova

Financial Inclusion can be influenced by the customer perception such as availability of all financial inclusion services in all branch, reliable and prompt services, Affordable price, Post office staffs interact With friendly ( Accessible ) Safety and security transaction, affordable financial services, Simplicity procedure, Responsible to query, conveniently service under convenience sampling method were adopted. The primary data were collected with 50 Respondents of post office customers with the help of well structure close ended and 5 point likert scale questionnaire which consists of parameters to measure the perception variables. The collected data were analyses with the help of the mean rank and one way ANOVA analysis for validating the assumptions made by researchers. The study therefore done found that customers perception variable of post towards financial Inclusion processes were confirmed that the customers perception India variables had some effect on satisfaction of India post towards financial inclusion services. But, aged person, illiterate people, women , low occupation person and low income person have to attention and be conducted awareness camp. This may increase the financial inclusion in post office

scholarly journals FINANCIAL INCLUSION AND POVERTY ALLEVIATION AMONG SMALLHOLDER FARMERS IN ZIMBABWE

2020 ◽  
Vol 8 (3) ◽  
pp. 168-182
Author(s):  
David Mhlanga ◽  
◽  
Steven Henry Dunga ◽  
Tankiso Moloi ◽  
◽  
...  
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Poverty Reduction ◽  
Smallholder Farmers ◽  
Financial Education ◽  
Financial Inclusion ◽  
Strong Impact ◽  
Development Goals ◽  
The Government ◽  
The Impact

The study sought to investigate the impact of financial inclusion on poverty reduction in Zimbabwe among the smallholder farmers. It is alleged that financial inclusion can help in achieving seven of the seventeen sustainable development goals (SDGs), which include poverty eradication in all its forms everywhere, ending hunger, achieving food security, ensuring improved nutrition as well as promoting sustainable agriculture and many others. Using the simple regression method, the study discovered that financial inclusion has a strong impact on poverty reduction among smallholder farmers. The study went on to discover that, for the government to tackle poverty especially among the smallholder farmers, it is important to ensure that farmers do participate in the financial sector through saving, borrowing and taking out insurance among other services. So, it is important for the government of Zimbabwe to fully implement policies that encourage financial inclusion such as making sure that farmers find it easy to access financial institutions and encouraging financial institutions to review transaction costs like bank account opening charges periodically, implementing financial education programs among the farmers because these variables are important in influencing farmers to participate or preventing them from using financial services.

scholarly journals An Empirical Analysis of the Impact of Agency Banking on Financial Inclusion in Benue State, Nigeria: Implications for Economic Activities

2022 ◽  
Vol 14 (2) ◽  
pp. 75
Author(s):  
David Terfa Akighir ◽  
Tyagher Margaret ◽  
Jacob Terungwa Tyagher ◽  
Tordue Emmanuel Kpoghul
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Structural Equation ◽  
Structural Equation Models ◽  
Survey Design ◽  
Secondary Data ◽  
The State ◽  
Financial Inclusion ◽  
Economic Activities ◽  
The Impact

Twelve (12) out of the Twenty-three (23) local government areas (LGAs) in Benue State do not have the presence of banks over a long period of time. This situation has deprived the inhabitants of these LGAs of access to formal financial services until the advent of agency banking. This study therefore, investigates the impact of agency banking on financial inclusion and economic activities in Benue State focusing on the agency banking activities of First Bank Ltd. The study is anchored on the agency theory and it used a survey design. The study has utilized both primary and secondary data that were analyzed using descriptive statistical tools and structural equation models. Findings of the study have revealed that agency banking activities of First Bank Ltd have immensely enhanced financial inclusion and economic activities in Benue State. However, challenges such as shortages of cash, security problems, network failures, and lack of financial literacy are militating against the smooth operations of the agency banking in the State. On the basis of these findings, the study has recommended among others that, other banks operating in the State should be encouraged to venture into agency banking in the state so as to have a wider coverage of agency banking in the State. Also, government should provide security and partner with the private sector to provide national carrier communication network system to overcome the network failure challenge. Finally, banks should intensify efforts to educate the masses about the validity and potency of agency banking.

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