scholarly journals FINANCIAL INCLUSION AND INCLUSIVE GROWTH: A CROSS-PROVINCE ANALYSIS IN INDONESIA

2016 ◽  
Vol 18 (3) ◽  
pp. 281-306 ◽  
Author(s):  
I Made Sanjaya ◽  
Nursechafia Nursechafia
Keyword(s):  
Financial Services ◽  
Financial Sector ◽  
Financial Inclusion ◽  
The Other ◽  
Average Level ◽  
Inclusive Growth ◽  
Positive Correlation ◽  
The Poor ◽  
Other Hand ◽  
Equity Index

This paper computes and analyzes the degree of financial inclusion and the inclusive growth in Indonesia. Using provincial data, we calculate the Index of Financial Inclusion (IFI) based on the accessibility, the availability, and the usage of the financial services. On the other hand, the Index of Inclusive Growth (IIG) is developed through the method of social opportunity function by increasing the average level and equity index of opportunities. The result shows that the financial inclusion in Indonesia is largely determined by the accessibility, while the availability and the usage play only small portion. This leads to a conclusion that the group of the poor is limited on using the financial services. Furthermore, we use social opportunity function to measure the inclusive growth, and find a positive correlation with the financial inclusion. These findings call the attention from regulators to push the financial sector to extend their services further beyond their existing market target

scholarly journals THE ROLE OF FINANCIAL SERVICES AUTHORITY IN THE CONSUMER PROTECTION AMID THE GROWTH OF FINTECH INDUSTRY IN INDONESIA

2019 ◽  
Vol 31 (2) ◽  
pp. 297 ◽  
Author(s):  
Johanes Widijantoro
Keyword(s):  
Consumer Protection ◽  
Financial Literacy ◽  
Financial Services ◽  
The Body ◽  
Financial Inclusion ◽  
The Other ◽  
Other Hand ◽  
Financial Technology

The growth of the financial technology (fintech) industry is a necessity as an effort to make financial services more practical and efficient. On the other hand, consumers of financial services are still low in financial literacy levels, especially in considering various risks that can occur in dealing with the fintech industry. Indonesian Financial Services Authority (OJK) is the body responsible for carrying out the protection of consumers of financial services. This article describes how legal matters in the fintech business, which are actually useful and can encourage financial inclusion, but on the other hand have the potential to harm consumers if they are not properly regulated. Existing related OJK Regulations would be examined and what things should be regulated by the OJK so that consumers of financial services are protected amid the development of fintech, will also be elaborated in this article. This article respectively describes the rationality of consumer protection in the financial services, the dynamics of fintech growth and its problems, and an analysis of the role of OJK in the era of fintech industry.

scholarly journals Micro Insurance as a Dimension for Financial Inclusion in India through Jansuraksha Scheme: An Empirical Analysis of Statistical Evidence

2016 ◽  
Vol 2 (12) ◽  
Author(s):  
Rajitha Ramachanran ◽  
Dr. Ps Anuradha
Keyword(s):  
Financial Services ◽  
Secondary Data ◽  
Financial Inclusion ◽  
Inclusive Growth ◽  
Allocation Of Resources ◽  
Poor Growth ◽  
The Poor ◽  
Poor Households ◽  
Micro Insurance ◽  
The Government

Christ University, India Abstract: - Inclusive growth entails comprehensive growth, shared growth, and pro-poor growth. It lessens the fast growth rate of poverty in a country and upsurges the participation of people into the development of the country. Inclusive growth infers an impartial allocation of resources with benefits incurred to every section of the society. But the allocation of resources must be focused on the intended short and long term benefits of the society. Micro insurance is considered as an important instrunment for inclusive growth. With the outset of the Pradhan Mantri Jan Dhan yojana when the government launced the insurance and pension schemes it was considered as a success for the upliftment of the poor and infusing insurance into the lives of the poor. A key aspect of the interest in micro-insurance is to explore ways of significantly increasing the number of poor households belonging to various communities that have access to insurance while enhancing the benefits. This paper is a study to understand how the Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyothi Bima yojana is considered as a success for the upliftment of the poor. It analyses how the progress of both these schemes in terms of the growth and progress has increased the inclusiveness of financial services like micro insurance has increased the outreach of these schemes. It is a statistical analysis of the secondary data on the gross enrollment and how it shows that micro insurance still be considered as a important dimension of financial inclusion.

scholarly journals Improving the Use of Islamic Banking Services in Financing Investment Projects in Uzbekistan

2021 ◽  
Vol 11 (2) ◽  
pp. 2205-2220
Author(s):  
Dilmurod Yusupaliyevich Khujamkulov ◽  
Ruhiddin Khusniddin Ogli Zayniddinov ◽  
Dilmurod Rakhmatullayevich Ergashev ◽  
Mamajon Akhmatjonovich Mamatov ◽  
Khusniddin Fakhriddinovich Uktamov
Keyword(s):  
Financial Services ◽  
Financial Inclusion ◽  
The Other ◽  
Islamic Banking ◽  
Major Objective ◽  
Banking Services ◽  
Investment Projects ◽  
Conventional Banks ◽  
Religious Reasons ◽  
Formal Finance

Financial inclusion is remained low level by the majority of households and firms in Uzbekistan, instead of using formal finance, they are more partial to save and borrow informally. In this case, both indicate the high cost of finance as the top reason for not using it. Moreover, households, which are mostly Muslim, declare that religious reasons prevent them from using formal finance, as only conventional finance is available. The result of the survey was passed between a number of households and entrepreneurs that most of them claimed to use Islamic banking products. On the other hand, there are not created main mechanisms, infrastructure, and other important devices to regulate Islamic banking services in the country. The major objective of this study was to investigate there were used some Islamic banking products under some conventional banks for two decades and we have discussed the empirical experiences in Uzbekistan as well as given recommendations for improving the use of Islamic financial services related to foreign experiences and the result of the survey.

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.

The Sucrose-Natural Gypsum Makes the Compound Retarder to the Cement and the Concretes Performance Influence Experimental Study

2011 ◽  
Vol 335-336 ◽  
pp. 1219-1222
Author(s):  
Ru Qin Wang
Keyword(s):  
Experimental Study ◽  
Physical Properties ◽  
Experimental Research ◽  
Mixing Time ◽  
The Other ◽  
Positive Correlation ◽  
Other Hand ◽  
Cement And Concrete

By the experimental research to the effect sucrose-natural gypsum as composite retarder on the performance of cement and concrete. This paper analyzes and summarizes the fact that the influence of this kind of composite retarder is more obvious than the slow setting effect of a single sugar or plaster. And the retardation of cement and concrete the mixing time is basically the amount of sugar a positive correlation. And on the other hand, it will not influence other physical properties.

John Chrysostom on Almsgiving and the Use of Money

1994 ◽  
Vol 87 (1) ◽  
pp. 29-47 ◽  
Author(s):  
Blake Leyerle
Keyword(s):  
Social Status ◽  
Late Antiquity ◽  
The Other ◽  
Rhetorical Strategy ◽  
The Poor ◽  
Other Hand ◽  
John Chrysostom ◽  
The One ◽  
Real Wealth

Few themes so dominate the homilies of John Chrysostom (ca. 347–407 CE) as the plight of the poor and the necessity of almsgiving. His picture of the poor, however, is always set against the prosperous marketplace of late antiquity. It seems therefore scarcely surprising that his sermons on almsgiving resound with the language of investment. With such imagery, Chrysostom tried not only to prod wealthy Christians into acts of charity but also, and perhaps more importantly, to dislodge his rich parishioners from their conviction that an uncrossable social gulf separated them from the poor. The rhetorical strategy he used is typical of all his polemical attacks. On the one hand, he denigrated the pursuit of money and social status as fundamentally unattractive; it is both unchristian and unmasculine. On the other hand, he insisted that real wealth and lasting prestige should indeed be pursued, but more effectively through almsgiving. I shall first examine how Chrysostom effected this recalculation of wealth, and then I shall turn to the question of whether there may have been some advantage for him in pleading so eloquently on behalf the poor.

Financial Inclusion in India

2016 ◽  
pp. 95-104
Author(s):  
Rohit Bhattacharya
Keyword(s):  
Financial Services ◽  
Poverty Reduction ◽  
Significant Proportion ◽  
Financial Inclusion ◽  
Vulnerable Groups ◽  
Working Paper ◽  
Road Map ◽  
The Poor ◽  
Financial Exclusion ◽  
The World

The concept of Financial Inclusion is not a new one. It has become a catchphrase now and has attracted the global attention in the recent past. Lack of accessible, affordable and appropriate financial services has always been a global problem. It is estimated that about 2.9 billion people around the world do not have access to formal sources of banking and financial services. India is said to live in its villages, a convincing statement, considering that nearly 72% of our population lives there. However, a significant proportion of our 650,000 odd villages does not have a single bank branch to boast of, leaving swathes of the rural population in financial exclusion. RBI has reported that the financial exclusion in India leads to the loss of GDP to the extent of one per cent (RBI, Working Paper Series (DEPR): 8/2011). Financially excluded people, consistently, depend on money lenders even for their day to day needs, borrowing at excessive rates to finally get caught in a debt trap. In addition, people in far-off villages are completely unaware of financial products like insurance, which could protect them in adverse situation. Therefore, financial inclusion is a big necessity for our country as a large chunk of the world's poor resides here. Access to finance by the poor and vulnerable groups is a prerequisite for poverty reduction and social cohesion. Present paper is an attempt to highlight the present efforts of financial inclusion in India its future road map, its challenges etc.

Mobile Financial Services

2020 ◽  
pp. 96-119
Author(s):  
Alexander Maina Kimari ◽  
Eric Blanco Niyitunga
Keyword(s):  
Financial Services ◽  
Developing World ◽  
Service Providers ◽  
Customer Experience ◽  
Financial Service ◽  
Financial Inclusion ◽  
The Poor ◽  
Financial Exclusion ◽  
Mobile Financial Services

The chapter explores financial exclusion, its causes, and consequences in society. The chapter found that the existing discrepancy in financial inclusion between the developed and developing world is driven by financial exclusion that makes it difficult for financial service providers to expand outreach to the poor at affordable prices. The chapter aims to investigate the role of mobile financial service design and development in dealing with financial exclusion. It was found that mobile financial services are promoting financial inclusion in various markets. However, few studies have been undertaken on the benefits of mobile financial services in dealing with the high rates of financial exclusion. The chapter recommended that to achieve financial inclusion, there is need for mobile financial services providers to take into account customer experience through the ease of using the phone interface. The chapter concluded that there is need for scholars in the fields of finance and economics to conduct research in the areas of mobile financial services and their role in society.

scholarly journals Can coercion be justified when it benefits the poor? The case of commercial surrogacy industry in India

2018 ◽  
Vol 8 (3) ◽  
pp. 9-17
Author(s):  
Packiaraj Asirvatham
Keyword(s):  
Life Stories ◽  
The Other ◽  
Crucial Question ◽  
Commercial Surrogacy ◽  
The Poor ◽  
Other Hand ◽  
Women's Participation

Commercial surrogacy in India is a booming industry however the raising number of poor illiterate women's participation as commercial surrogate poses serious question of coercion, on the other hand it economically empowers them. In this context, this article analyses the crucial question, can coercion be justified when it benefits the poor by investigating commercial surrogates’ life stories and looking into the various types of coercion discreetly operates. It concludes with few recommendations which can help in empowering poor commercial surrogates who involved in commercial surrogacy industry in India.

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