scholarly journals Financial Inclusion Research Around the World: A Review

2020 ◽  
Author(s):  
Peterson K Ozili
Keyword(s):  
Financial Inclusion ◽  
The World

Determinants of Financial Inclusion Gender Gap in Ethiopia: Evidence From Decomposition Analysis

2021 ◽  
Author(s):  
Shemelis Kebede Hundie ◽  
Daniel Tadesse Tulu
Keyword(s):  
Financial Institutions ◽  
Gender Gap ◽  
Decomposition Analysis ◽  
Financial Inclusion ◽  
Gender Mainstreaming ◽  
Economic Activities ◽  
Debit Card ◽  
The World ◽  
Males And Females ◽  
Emergency Fund

Abstract In Ethiopia, the gender gap in financial inclusion is high, and the effect of socioeconomic variables on the gap is not well investigated. As a result, this study uses the World Bank’s Global Findex database from 2017 to analyze magnitude and determinants of the gender gap in financial inclusion in Ethiopia. Using Fairlie decomposition technique, we find statistically significant gender gap in all indicators of financial inclusion under study in Ethiopia. The result shows that the highest financial inclusion gender gap is observed in formal saving followed by formal account holding. The decomposition results show males are 16.5%, 16.6%, 8.9 %, 8.4 %t, and 5.8% more likely to have a formal account, formal saving, borrowing, emergency fund possibility, and debit card ownership, respectively. We further decompose these gaps using Daymont and Andrisani approach and the result reveals that differences in coefficients between males and females explain 57.7% in formal saving, 43.4% in formal account holding, and 110.9% in borrowing from formal financial institutions. About 54.2% of the total gender gap in possibility of raising emergcency fund is attributed to differences in characteristics/predictors between the two genders while gender gap in debit card holding is explained by the iteraction between differences in characterisctics and coefficients. Being older, more educated, and wealthier favor financial inclusion, with age, employment, and education having a greater effect. Furthermore, gaps in coefficients, productivity, and advantage to males and disadvantage to females aggravate the gender gap in financial inclusion in Ethiopia. Gender mainstreaming in economic activities to increase income, employment opportunities and education for females to bridge the gender gap in financial inclusion is important.

scholarly journals Murābaḥah-Taꜥāwun Financing: An Innovation in Islamic Personal Financing

2019 ◽  
Author(s):  
International Journal of Fiqh and Usul al-Fiqh Studies
Keyword(s):  
Financial Inclusion ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Critical Factors ◽  
Distribution Of Wealth ◽  
Financial Products ◽  
Muslim Countries ◽  
The World ◽  
Financial Contract ◽  
Up Scaling

Entrepreneurs, especially in developing societies, which include many Muslim countries among their fold, face a herculean task in up-scaling their businesses due to a lack of capital to procure relevant assets to grow their businesses. The world Islamic banks’ competitiveness report (2016) identified poor financial inclusion as one of the critical factors responsible for the uneven distribution of wealth in the Muslim world. This study presents the Murābaḥah-Taʻāwun financing product as an innovative addition to the range of financial products available on the Islamic banking shelf to reduce the incidence of poverty. Murābaḥah-Taʻāwun is operationalized where a group of entrepreneurs contribute funds together under a recognized Islamic bank while allowing every partner access to the fund on a rotational basis for the purchase of an asset according to a pre-defined arrangement. The study highlighted the importance of Murābaḥah-Taʻ''āwun as an Islamic financial contract by reviewing relevant extant literature. The proposed product shows that greater financial inclusion can be achieved without recourse to riba and thus will reduce poverty among Muslims.

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.

Islamic Financial Inclusion

2020 ◽  
pp. 155-173
Author(s):  
S. M. Sohrab Uddin ◽  
Mohammad Zoynul Abedin ◽  
Nahid Afroz
Keyword(s):  
Banking Sector ◽  
Financial Inclusion ◽  
Islamic Finance ◽  
Islamic Banking ◽  
Policy Makers ◽  
Muslim Population ◽  
Muslim Countries ◽  
The World ◽  
Global Concern ◽  
Empirical Contribution

Financial Inclusion (FI), a global concern of this decade, has been accepted by development agencies, governments, and policymakers as one of the pre-eminent ways to eradicate worldwide poverty and income inequality. Consequently, authorities are looking for possible ways to include the unbanked in formal financial chain. Islamic finance, specifically Islamic banking, with its welfare-oriented principles and unique products, has been able to capture the attention of policy makers. Moreover, a major portion of the Muslim population still exclude themselves from the formal financial chain due to religious prohibition of interest-based transactions for whom Islamic finance is the only way to inclusion. Bangladesh, one of the major Muslim countries in the world, is still to bring one-fourth of its total population under formal financial chain. At this backdrop, this chapter examines the empirical contribution of Islamic banking sector in financial inclusion condition as well as development scenario of Bangladesh.

scholarly journals Halal Money: Financial inclusion and demand for Islamic banking in Norway

2018 ◽  
Vol 5 (1) ◽  
pp. 205316801875762 ◽  
Author(s):  
Torkel Brekke
Keyword(s):  
World Bank ◽  
Research Program ◽  
Financial Inclusion ◽  
Islamic Banking ◽  
The West ◽  
Level Of Education ◽  
The World Bank ◽  
Financial Exclusion ◽  
The World ◽  
Muslims In The West

Financial inclusion is high on the agenda for governments as well as for organizations such as the World Bank. Research has pointed out that Muslims worldwide are less included in the formal financial system than non-Muslims, but there is no knowledge about the extent to which religious norms (most importantly the ban on interest on money) lead to financial exclusion among Muslims in the West. In this article I approach the issue of financial exclusion and inclusion through three interrelated questions that will be answered with data collected in Norway 2015 and 2016. The questions are: (a) To what extent do Muslims see conventional banking as a problem in their own lives? (b) Do level of education, age, national background or level of religiosity predict demand for Islamic banking? (c) Is demand for Islamic banking changing? This article is a first step in what should be a broader research program to find out whether and how religious norms cause financial exclusion of Muslims in the West.

What determines financial inclusion in Sub-Saharan Africa?

2017 ◽  
Vol 8 (1) ◽  
pp. 8-18 ◽  
Author(s):  
Sydney Chikalipah
Keyword(s):  
International Development ◽  
World Bank ◽  
Financial Inclusion ◽  
Sub Saharan Africa ◽  
Data Set ◽  
Content Type ◽  
The World Bank ◽  
The World ◽  
Sub Saharan ◽  
Ssa Countries

Purpose The purpose of this paper is to investigate the determinants of financial inclusion (FI) in Sub-Saharan Africa (SSA). Design/methodology/approach The paper uses the World Bank country-level data from 20 SSA countries for the year 2014. Findings The empirical findings in this study indicate that illiteracy is the major hindrance to FI in SSA. The findings provide useful information to government agencies and international development organisations. Also, the findings can help accelerate and strengthen FI strategies among SSA countries. Research limitations/implications Some countries were excluded from the final analysis due to lack of data. Practical implications In the last two decades, there has been renewed interest in fighting financial exclusion in Africa. Therefore, this study provide evidence which clearly shows that enhancing literacy levels in a country can immensely contribute towards building the financially inclusive societies in the SSA region. Originality/value To the best of the author’s knowledge, this is the first study to empirically test the determinants of FI in SSA using the World Bank FI data set. Furthermore, this is the first attempt to estimate the determinants of FI with a combined data of SSA countries.

Unique Identification: Inclusion and surveillance in the Indian biometric assemblage

2012 ◽  
Vol 43 (5) ◽  
pp. 457-474 ◽  
Author(s):  
Elida K. U. Jacobsen
Keyword(s):  
Homeless People ◽  
Number System ◽  
Financial Inclusion ◽  
Biometric Identification ◽  
Biometric Technology ◽  
Security Governance ◽  
Technology Project ◽  
Massive Growth ◽  
The World ◽  
Multiple Actors

The last decade has seen an increased focus on secured forms of identification in security governance, leading to a massive growth and standardization in the application of biometric technologies globally. This article examines what is currently the largest biometric technology project in the world: the nationwide Unique Identification (UID) number system in India. It emphasizes the importance of investigating the postcolonial contexts of governance in which biometric technology is currently being applied. Approaching the Indian scheme as a discursive/practical assemblage of multiple actors and rationales, the article investigates three contexts within which the biometric project emerged: India’s Home Ministry, the Unique Identification Authority of India and a project focusing on the biometric identification of homeless people in Delhi. In particular, the article examines the various targets of intervention constructed in the discourses and practices of the national ID scheme. It is argued that the practice of biometric identification is produced as a solution to a wide array of problems of governance, both as a means of financial inclusion and as a method of surveillance.

scholarly journals Whither Financial Inclusion? Performance of Bangladesh in the 2017 Global Findex

2018 ◽  
Vol 2 (2) ◽  
pp. 14-18
Author(s):  
Sajid Amit
Keyword(s):  
World Bank ◽  
Digital Economy ◽  
Financial Inclusion ◽  
Demand Side ◽  
The Third ◽  
The World Bank ◽  
The World

On April 19, 2018, the third Global Findex Database was released by the World Bank at the Bank’s Spring Meetings. According to CGAP, this dataset is “the financial inclusion community’s best demand-side measure of financial inclusion globally.” Overall, the dataset points to an increasingly inclusive financial world that is also transitioning to a digital economy. Bangladesh, too, made impressive gains in certain yardsticks for financial inclusion based on this dataset. For instance, the share of people with financial accounts increased from 29 percent to 41 percent, in three years. However, financial inclusion yardsticks should go beyond opening of bank and financial accounts and also encompass usage of accounts. It is only when people are actively using their accounts will we have meaningful financial inclusion.

scholarly journals The Effect of Economic Digitization on Financial Inclusion and International Trade in Southeast Asia

2021 ◽  
Vol 1 (3) ◽  
pp. 115-122
Author(s):  
Rini Dwi Astuti ◽  
Purwiyanta Purwiyanta
Keyword(s):  
Economic Growth ◽  
International Trade ◽  
Southeast Asia ◽  
Rapid Development ◽  
Financial Inclusion ◽  
Analysis Tool ◽  
Vector Autoregression Model ◽  
The World ◽  
Autoregression Model ◽  
Causality Relationship

The rapid development of information technology has made economic digitization a necessity throughout the world, including Southeast Asia. This study aims to analyze the effect of economic digitization on financial inclusion and international trade using the Vector Autoregression Model analysis tool for ten countries in ASEAN for the 2017-2019 period. The results showed that international trade and financial inclusion variables could respond quickly to shocks in the variable of economic digitization. Economic growth can respond quickly to shocks in global trade variables and financial inclusion variables. There is no causal relationship between economic growth and international trade. However, there is a one-way causality relationship between economic growth and financial inclusion, where inclusion affects economic growth but not vice versa.

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