scholarly journals SOZECOM: Leveraging the Synergy between the Existing Structure and Opportunities in Digital Finance

2019 ◽  
Author(s):  
Muhammad Lawal Maidoki
Keyword(s):  
Mobile Phones ◽  
Rural Areas ◽  
Financial Services ◽  
Global Economy ◽  
The State ◽  
Collection Management ◽  
Urban Centre ◽  
The People ◽  
Land Mass ◽  
Existing Structure

Sokoto State having a land mass of 25,973 km² and located in Northwestern Nigeria has a population of about 5.7 million people. Over 80% of the people are farmers living predominantly in the rural areas. As a consequence of this they are both financially and digitally excluded from participating in the formal and increasingly digitalized global economy. Sokoto State Zakat and Waqf (Endowment) Commission (SOZECOM) Nigeria aims to drastically reduce the widespread prevalence of poverty in the state. SOZECOM utilizes an extensive network of volunteers covering all the districts in the state. Almost 50% of the rural population own or have access to mobile phones. By using this network and the access to mobile phones, SOZECOM aims to bridge the gap in financial services between the mostly rural areas and the urban centre through the development of a framework involving the use of volunteers as agents. This will greatly assist in the collection, management and distribution of both zakat and waqf funds. This paper presents the activities undertaken, for greater rural financial inclusivity and participation in the digital economy, the opportunity and constraints.

scholarly journals Information Asymmetry and Trust: A Framework for Studying Microfinance in India

2005 ◽  
Vol 30 (4) ◽  
pp. 77-86 ◽  
Author(s):  
M S Sriram
Keyword(s):  
Social Networks ◽  
Transaction Costs ◽  
Rural Areas ◽  
Financial Services ◽  
Imperfect Information ◽  
Informal Networks ◽  
The Poor ◽  
The People ◽  
Financial Transactions

In recent times, microfinance has emerged as a major innovation in the rural financial marketplace. Microfinance largely addresses the issue of access to financial services. In trying to understand the innovation of microfinance and how it has proved to be effective, the author looks at certain design features of microfinance. He first starts by identifying the need for financial service institutions which is basically to bridge the gap between the need for financial services across time, geographies, and risk profiles. In providing services that bridge this gap, formal institutions have limited access to authentic information both in terms of transaction history and expected behaviour and, therefore, resort to seeking excessive information thereby adding to the transaction costs. The innovation in microfinance has been largely to bridge this gap through a series of trustbased surrogates that take the transaction-related risks to the people who have the information — the community through measures of social collateral. In this paper, the author attempts to examine the trajectory of institutional intermediation in the rural areas, particularly with the poor and how it has evolved over a period of time. It identifies a systematic breach of trust as one of the major problems with the institutional interventions in the area of providing financial services to the poor and argues that microfinance uses trust as an effective mechanism to address one of the issues of imperfect information in financial transactions. The paper also distinguishes between the different models of microfinance and identifies which of these models use trust in a positivist frame and as a coercive mechanism. The specific objectives of the paper are to: Superimpose the role of trust in various types of exchanges and see how it impacts the effectiveness of repeated transactions. While greater access to information fosters trust and thus helps social networks to reduce transaction costs, there could be limits to which exchanges could solely depend on networks and trust. Look at the frontiers where mutual trust cannot work as a surrogate for lower appraisal costs. Use an example in the Canadian context and see how an entity that started on the basis of social networks and trust had to morph into using the techniques used by other formal nonneighbourhood institutions as it grew in size and went beyond a threshold. Using the Canadian example, the author argues that as the transactions get sophisticated, it is possible to achieve what informal networks have achieved through the creative use of information technology. While we find that the role of trust both in the positivist and the coercive frame does provide some interesting insights into how exchanges with the poor could be managed, there still could be breaches in the assumptions. This paper identifies the conditions under which the breaches could possibly happen and also speculates on the effect of such breaches.

scholarly journals Postal Bank in Ukraine: The Need and Risks of Creation

2021 ◽  
Vol 6 (521) ◽  
pp. 228-234
Author(s):  
D. M. Hladkykh ◽  
Keyword(s):  
Rural Areas ◽  
Financial Services ◽  
The State ◽  
Resource Base ◽  
Banking Services ◽  
Post Offices ◽  
Banking Market ◽  
Target Segment ◽  
Banking Institutions ◽  
Financial Monitoring

The article is aimed at substantiating the feasibility of creating a specialized postal bank in Ukraine, to define the list of related risks and possible directions for their reduction. The following key risks that hinder the establishment of a postal bank in Ukraine are identified: risk of lack of full control over the directions of investment of accumulated deposits of the population on the part of the NBU; liquidity risk; risk of non-compliance by the postal operator with economic standards that are mandatory for banking institutions; risk of capital deficit; risk of inability to support the postal operator with refinancing; risk of mass withdrawal of deposits by customers; risk of insufficient competence of «Ukrposhta» employees to comply with the requirements of financial monitoring; risks associated with the collection of large amounts of cash; risk of further growth of the share of the State-owned institutions in the banking market; risk of shortage of funds to close the agreement on the purchase of «Ukrposhta» by an already operating bank. Possible directions of minimization of these risks are proposed, in particular: implementation of key elements of successful experience in the banking services market of JSPPB «Aval»; defining as the target segment of clients of the new postal bank of the pensioners, who are currently customers of post offices, and as the basis of its resource base – the future pension and current accounts of individuals; use by «Ukrposhta» of the so-called «agency» model of financial services provision; association of «Ukrposhta» and «Oschadbank» into the State-owned Postal Bank; development of a list of key performance indicators for employees and branches of the new postal bank; development of a list of measures directed towards significantly improving the level of qualification of personnel of «Ukrposhta» branches; installation of POS-terminals and payment terminals in all post offices located in rural areas; establishment of individual economic standards for the new postal bank for the period of its full adaptation to activities in the banking market.

The Spiritual Land Rush: Merit and Morality in New Chinese Buddhist Temple Construction

2008 ◽  
Vol 67 (1) ◽  
pp. 143-170 ◽  
Author(s):  
Gareth Fisher
Keyword(s):  
Rural Areas ◽  
Mainland China ◽  
The State ◽  
Buddhist Temple ◽  
The People ◽  
History Of

This article explores factors contributing to a boom in Buddhist temple construction in contemporary mainland China. In contrast to recent studies focusing on struggles between religious believers and the state over the revival of local temples and churches, this article examines the culture of merit making and morality building that leads clergy and lay practitioners to form translocal networks with the aim of constructing temples in rural areas where they have few or any cultural ties. The author explores how temple building is driven by differing moral visions within the urban Buddhist community, but with little consideration for the culture and history of the people in the localities where the temples are constructed.

Implementation of Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) in Manipur (2015-16): An Assessment

2017 ◽  
Vol 8 (4) ◽  
pp. 55
Author(s):  
Khundrakpam Romenkumar Singh
Keyword(s):  
Rural Areas ◽  
Poverty Alleviation ◽  
Rural Households ◽  
The State ◽  
Mahatma Gandhi ◽  
Rural Employment ◽  
The People ◽  
Employment Guarantee ◽  
Employment Guarantee Scheme

Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) is demand driven , self targeting employment generating poverty alleviation scheme which was launched by the UPA government in 2005 with full of hope to eradicate the problems of poverty and unemployment in the rural areas of India by targeting to provide at least 100 days of employment at each rural households. It is the only employment-generating programme, that a beneficiary can claim legally. The scheme was introduced in Manipur in the year 2008 with lot of hope to minimise the problem of poverty and unemployment in the state but after the eight years of implementation, the programme failed to deliver the expectations the people had on it. In this paper, an assessment of the performance of MGNREGS in Manipur of the year 2015-16 has been made.

scholarly journals REVEALING THE POVERTY ERADICATION EFFORTS THROUGH AGRICULTURE SECTOR IN SABAH

2021 ◽  
Vol 6 (23) ◽  
pp. 186-199
Author(s):  
Romzi Ationg ◽  
Mohd Sohaimi Esa ◽  
Mohd Azri Ibrahim ◽  
Irma Wani Othman ◽  
Mohd Nur Hidayat Hasbollah Hajimin ◽  
...  
Keyword(s):  
Economic Development ◽  
Rural Areas ◽  
Agricultural Sector ◽  
Well Being ◽  
The State ◽  
Standard Of Living ◽  
Poverty Eradication ◽  
Agriculture Sector ◽  
The People

Poverty eradication through the agricultural sector has been one of the most important agendas in Sabah. To understand this matter, an examination of poverty eradication history in Sabah is immensely valuable. Accordingly, by examine the documents such as books, official government reports journals, and newspapers, this paper discusses the poverty eradication efforts in Sabah. Based on the information obtained, it shows that the rural areas' economic development in Sabah through the agricultural sector has been the focus of both the state and the federal governments. This was carried out due to the need of ensuring the people of Sabah be able to improve their standard of living, particularly in terms of socio-economics well-being as they generally linked with the issue of poverty.

scholarly journals MELAKA IN MALAYSIAN GEOPOLITICS ON PRE GE-14, GE-14 AND POST GE-14

2021 ◽  
Vol 6 (24) ◽  
pp. 144-176
Author(s):  
Junaidi Awang Besar
Keyword(s):  
State Government ◽  
Rural Areas ◽  
Urban Areas ◽  
The State ◽  
General Election ◽  
The Political ◽  
Secondary Sources ◽  
Ethnic Chinese ◽  
The People ◽  
First Time

Malacca is a state that has a mix of voters of 58 percent of voters are ethnic Malays. Malay voters in the state known for its rigid and fanatical supporters of UMNO makes the majority of Malays in the country contributed to a major victory for the BN/UMNO in the general election. The state is known for its legendary Hang Tuah with the slogan "Tak Melayu Hilang Di Dunia" has loyal voters who support UMNO is also a sacred Malay party since before independence. But since the 2008 general election, Chinese voters who originally also supported BN have turned to DAP and other opposition component parties. Urban areas and the majority of ethnic Chinese voters continue to be dominated by DAP and its allied opposition parties. The culmination of the 14th General Election (GE), 2018, finally the state fell to the opposition party pact, Pakatan Harapan (PH) with a slim majority with 15 DUNs won by PH compared to 13 DUNs controlled by BN. Therefore, the purpose of writing this article is to analyze the State of Melaka in Malaysian geopolitics in the pre-GE-14, GE-14, and post-GE-14. Based on the analysis of GE 2018 results data, field observations and analysis of secondary sources such as journal articles and conference papers, the findings show that PH's success in capturing the Melaka from BN is an amazing event and beyond the expectations of all parties. However, the political change was due to national issues and the determination to bring down BN by voters, especially the young or first-time voters. Although PH managed to capture the Melaka PH only won with a slim majority of only 2 DUNs. PH win in urban areas and the majority of ethnic Chinese and the BN/UMNO continues to excel in the rural areas and the majority ethnic Malays. Then when BERSATU left PH and formed the National Alliance (PN) together with BN/UMNO, PAS, GPS, and GBS which controlled the Federal Government in March 2020 then the Melaka State Government also fell from PH to PN led by BN as a result of the party jump by two BERSATU assemblymen, one PKR assemblyman and one DAP assemblyman made PN controls 17 DUN seats while PH only has 11 DUN seats left. Such is the science of politics, nothing is impossible and politics itself is dynamic, artistic, and sometimes difficult to anticipate. Therefore, all parties must accept the political decision of the people of Melaka and give the opportunity to the leadership of the State Government to carry out their responsibilities as rulers in this state to implement the manifesto or 'commitment' during the five years of their rule in this historic state.

scholarly journals Cultural value as the basis for the microfinance development of the Farmer’s Group Association

2019 ◽  
Vol 32 (4) ◽  
pp. 346
Author(s):  
Bernard Edheney Huruta ◽  
Yulius Pratomo
Keyword(s):  
Rural Areas ◽  
Financial Services ◽  
Qualitative Method ◽  
Group Discussion ◽  
Cultural Value ◽  
The People ◽  
Savings And Loan ◽  
The Government ◽  
Depth Interviews ◽  
Group Association

This study aims to describe the form of local wisdom (cultural value) in rural microfinance — this study conducted from October until December 2018 in Wangga Village, East Sumba. A qualitative method was used to picture the phenomenon of local wisdom-based microfinance development in communities. The authors used in-depth interviews with eight informants from the Rinjung Pahamu Farmer’s Group Association. The eight informants were determined purposively. Also, the data collection was carried out through a focus group discussion with the Rinjung Pahamu Farmer’s Group Association. The results of the study show that the local wisdom experienced by the members of the Rinjung Pahamu Farmer’s Group Association was used to overcome the limited access to formal financial services. The forms of microfinance developed on the Island of Sumba could not be separated from the appreciation of the noble values (Marapu) adopted by the community, such as the philosophy of Pawandang, Hillu Kandutuku, and Rotu Padang. Furthermore, savings and loan activities carried out in the management of the Farmer’s Group Association always consider the aspects of justice and survival. Based on the successful experience of the Rinjung Pahamu Farmer’s Group Association, in the future, the cultural value as the basis for the microfinance development can be applied to other groups as a means to improve financial access among the poor, especially for those living in rural areas. Marapu’s belief that was adopted by the people in Wangga Village still used as the basis for carrying out various activities in people’s lives. Marapu’s view is the belief that the government acknowledges pride, and it strengthens the community to maintain survival and balance. It practised through the Pawandang, Hillu Kandutuku, and Rotu Padang activities.

scholarly journals Rural Bus Connectivity and Quality of Services under Assam State Transport Corporation (ASTC)

2019 ◽  
Vol 8 (6) ◽  
pp. 3322-3327
Keyword(s):  
Rural Areas ◽  
Road Transport ◽  
The State ◽  
Primary Data ◽  
Transport Sector ◽  
Quality Of Services ◽  
Transport Services ◽  
The People ◽  
Bus Services

Road Transport Sector (RTS) is crucial for the people living in rural areas because other modes of transportation are hardly available in these regions. People are basically dependent on road transport services to run their day to day works in rural areas. Assam is a state of India where majority of the population is living in rural areas. The state comprises different geographical locations such as remotest of the remote locations, flood affected areas etc. and on the other hand, other modes of transportation such as trains, flights etc. are not adequately available in all places of the state. Thus, road transport plays a crucial role in moving goods and services in the state. So far as the welfare states are concerned, Public Road Transport Corporations (PRTCs) play a major role in delivering bus services to the people so all sections of the people can travel comfort journey at reasonable prices. Assam State Transport Corporation (ASTC) is only the Public Sector Road Transport Corporation (PSRTC) in Assam which provides bus services to the people of the state and in its connected regions. Here, the present study has been made to understand the status of services provided to the people living in rural areas of Assam under ASTC. Total 100 respondents from the group of passengers travelled by ASTC’s buses (Lakhimpur Division) have been purposively contacted for collecting primary data and the data collected from passengers would help to understand the availability/unavailability and the quality of services provided by ASTC to the passengers. Apart from the passengers, 8 ASTC’s officials (four from each station) and 2 higher officials from ASTC’s headquarters have been interviewed to understand the challenges faced by them in operating buses. Based on the collected data, the study finds that the corporation has failed to provide quality services to the passengers in many regards. The findings of the study highlight unavailability of push back system in seats in many buses, absence of a/c connections in buses allotted to rural areas, unhygienic bus stations etc. The study also reveals that service delivery is affected by the problems which are related to operation of buses such as rigid official procedures, financial deficiency, dissatisfaction of employees etc. Based on the findings, the study suggests concerned authority to take necessary steps to improve the quality of services regarding different aspects and to introducing such rules and regulations wherein employees feel comfort to discharge their duties. The study also suggests concerned authority to keeping proper surveillance over the properties of ASTC, focusing on proper maintenance of buses and bus stations etc.

scholarly journals STATUS OF FINANCIAL INCLUSION IN HILLY RURAL AREAS OF UTTARAKHAND: A COMPARATIVE STUDY OF PAURI, CHAMOLI AND RUDRAPRAYAG DISTRICT

2020 ◽  
Vol 15 (1) ◽  
Author(s):  
Prashant Kandari
Keyword(s):  
Rural Areas ◽  
Financial Services ◽  
Uttar Pradesh ◽  
The State ◽  
Financial Inclusion ◽  
Primary Data ◽  
Area Deprivation ◽  
Rural Regions ◽  
Financial Exclusion ◽  
The Status

Hill Rural regions of Uttarakhand are inherent part of the state and were the prominent reason on the basis of which Uttarakhand state was carved out of Uttar Pradesh. Unfortunately the underdevelopment of these regions due to the aspect of ‘Area Deprivation’ associated with them has led to emergence of prominent problems like unemployment, lack of income generating opportunities and poverty leading further to a major problem of rural outmigration from them. To raise the economic condition of households of these regions it is important to enhance the income generating opportunities and to provide financial services which could cover up the majority of population with the social security net. The major way out to achieve them is through increase in financial inclusion. The present study through help of primary data examines the level of financial inclusion in the hill rural regions of Uttarakhand for which FII is computed on the basis of 4 dimensions of financial inclusion. The FII of the rural regions of development blocks of hill districts is compared with the FII of the all Indian rural households to examine the status of financial exclusion in hill rural regions of the state.

English in rural Bangladesh

English Today ◽  
2014 ◽  
Vol 30 (4) ◽  
pp. 15-21 ◽  
Author(s):  
Elizabeth J. Erling ◽  
Philip Seargeant ◽  
Mike Solly
Keyword(s):  
International Development ◽  
Rural Areas ◽  
Global Economy ◽  
English Language ◽  
Local Community ◽  
Language Education ◽  
English Language Education ◽  
Rural Bangladesh ◽  
The People ◽  
Economic Markets

English's elevated status within a global economy of languages means that English-language education is increasingly promoted in international development initiatives in countries such as Bangladesh. This is partly due to a growing conviction that English is able to play an important role in helping people participate in global economic markets from which they have previously been excluded (Seargeant & Erling, 2011). Despite the strong associations made between English-language ability and development, there is at present only limited evidence showing a causal relationship between the two (Erling, forthcoming), while a complex of other issues surrounding the cultural politics of the language also play a role in the social implications of its promotion in such contexts. The aim of this article is to examine how English is perceived in rural Bangladesh by the people at whom such international development programmes are targeted. A broad assumption of such programmes is that English is a positive and, in some sense, necessary resource for development. The article investigates whether this matches the perception of those at whom such projects are aimed, and what it is that these communities feel the language can offer both in practical and in socio-cultural terms for the developmental challenges they face. In order to examine these questions the article draws on results from an ethnographical survey of two rural areas in Bangladesh which investigated the attitudes and aspirations of local community members to the potential impact of English-language education on their social prospects and cultural identities.

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