Promoting Indigenous Financial Inclusion

2018 ◽  
Vol 9 (2) ◽  
pp. 1-11
Author(s):  
Michael D'Rosario
Keyword(s):  
Social Services ◽  
Financial Services ◽  
Potential Role ◽  
Banking Sector ◽  
Indigenous Communities ◽  
Financial Inclusion ◽  
Banking Services ◽  
Geographic Dispersion ◽  
Financial Exclusion

This article describes how the majority of Australia's indigenous communities live within isolated regions and are typically characterized by levels of disadvantage not evidenced within mainstream Australian society. While there are a number of reasons for the evidenced disadvantages, access to financial services and social services are acknowledged as key contributors. The article outlines the role of banking sector competition and changing banking structures on the exclusion of indigenous people from banking services. It is claimed herein that access, marketing, price, and self-exclusion all serve to promote financial exclusion. It is posited that forms of access exclusion such as bank branch access and geographic dispersion have served as the key structural impediments to indigenous financial inclusion. Specifically, this article considers the potential role of adaptive cellular technologies and community telecentres in addressing financial exclusion within indigenous communities. Detailing successful ‘social banking' models adopted in several developing countries, it is asserted that m-banking could serve as a powerful tool for inclusion.

Promoting Indigenous Financial Inclusion

2020 ◽  
pp. 348-360
Author(s):  
Michael D'Rosario
Keyword(s):  
Social Services ◽  
Financial Services ◽  
Banking Sector ◽  
Indigenous Communities ◽  
Financial Inclusion ◽  
Banking Services ◽  
Australian Society ◽  
Geographic Dispersion ◽  
Financial Exclusion

This article describes how the majority of Australia's indigenous communities live within isolated regions and are typically characterized by levels of disadvantage not evidenced within mainstream Australian society. While there are a number of reasons for the evidenced disadvantages, access to financial services and social services are acknowledged as key contributors. The article outlines the role of banking sector competition and changing banking structures on the exclusion of indigenous people from banking services. It is claimed herein that access, marketing, price, and self-exclusion all serve to promote financial exclusion. It is posited that forms of access exclusion such as bank branch access and geographic dispersion have served as the key structural impediments to indigenous financial inclusion. Specifically, this article considers the potential role of adaptive cellular technologies and community telecentres in addressing financial exclusion within indigenous communities. Detailing successful ‘social banking' models adopted in several developing countries, it is asserted that m-banking could serve as a powerful tool for inclusion.

scholarly journals (The Role of Financial Inclusion in Providing Protection to Beneficiaries of Financial Services in the Palestinian Banking Sector (2013/2017: دور الشمول المالي في توفير الحماية للمستفيدين من الخدمات المالية في القطاع المصرفي الفلسطيني- الفترة (2013- 2017)

2019 ◽  
Vol 3 (6) ◽  
Author(s):  
Yasser Ahmed Shaheen
Keyword(s):  
Consumer Protection ◽  
Financial Services ◽  
Financial Stability ◽  
Banking Sector ◽  
Secondary Data ◽  
Financial Education ◽  
Financial Inclusion ◽  
Banking Services ◽  
Degree Of Protection

  The study aimed at examining some of the indicators of financial inclusion in the Palestinian banking sector through published secondary data on the Palestinian banking sector during the period (2013- 2017), as well as to measure the degree of protection for beneficiaries of financial services in the Palestinian banking sector. The researcher used the descriptive analytical method to suit the purposes of the study. The secondary data published and prepared by the researcher were used to examine the state of financial coverage in the banking sector. A questionnaire has been designed for the purpose of collecting preliminary data regarding the level of protection provided by the banking sector to users of financial banking services through 8 areas of protection developed after reference to literature and previous studies. The study population consisted of all the beneficiaries of banking financial services in the West Bank. In view of the large size of the study society, a soft sample of (100) conditional on the characteristics of the respondents was used in terms of (banking culture, years of experience in dealing with banks, Sectoral& banking diversification).The researcher reached the following results: - The Palestinian banking sector promotes the reality of financial inclusion, which contributes significantly to enhancing financial stability. Where banks are strengthening protection for users of banking services, although the level of protection was average (2.78) overall score through the eight areas covered by the study. - The regulatory and supervisory role of the Palestinian Monetary Authority in this important sector was medium. Consumer protection bodies are required to have an active and proactive role to organize the required protection. The researcher recommended the importance of financial education to improve the financial personality of individuals and institutions, help them understand their rights and duties in dealing with the services discharged, the importance of the consumer protection associations roles in enhancing banking protection.    

scholarly journals Digital Banking and Financial Inclusion of Women Enterprises in Narok County, Kenya

2020 ◽  
Vol 2 (1) ◽  
pp. 28-41
Author(s):  
Kisotu David Melubo ◽  
Salome Musau
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Target Population ◽  
Online Banking ◽  
Financial Inclusion ◽  
Primary Data ◽  
Mobile Banking ◽  
Banking Services ◽  
Financial Exclusion ◽  
The Many

Financial inclusion is an important step in development, as access to finances can help the women to build money and lift themselves out of poverty. Lack of financial inclusion among women in Narok County is one of the many factors leading to financial exclusion and an introduction of digital banking is the remedy to its problems. Financial inclusion of women contributes immensely in empowering them. Digital banking in Kenya has been characterized by rapid technological change in the finance sector that has led to the development of mobile banking, online banking, ATMs and agency banking. The banking sector has undergone substantive transformation particularly from the year 2007. This study sought to establish the effects of digital banking and financial inclusion of Women Enterprises in Narok County, Kenya. Financial inclusion includes the provision of affordable financial services, which includes; access to payments and remittance facilities, savings, loans and insurance services by the formal financial system to those who tend to be excluded The study was anchored on finance growth theory and financial asymmetric theory. This study used descriptive research design and data was collected from the target population of all the 184 women owned enterprise in Narok County, Kenya. For this study census sampling was adopted to where all the population will be included in study since the number of target population is 184. Primary data was collected using a semi structured questionnaire to be administered to the women business owner through face to face interviews. The collected data was analysed using descriptive statistics methods; mean, mode, median, standard deviation, percentages and frequencies. Inferential statistical methods included multiple regression analysis was used to establish the relationship among variables. It was established that digital banking services significantly and positively influenced financial inclusion of women enterprises in Narok County. The study concluded that agency banking, mobile banking, online banking and ATM services significantly influenced the access and use of banking services by the locally based women enterprises in Narok County. It was further concluded that the women enterprises did not adequately use online banking due to limited literacy level, computer proficiency and internet availability. The study recommends that the available financial sector players in Narok County needs to sensitize SMEs especially women-owned to ensure that they are aware of the digital services available to be in the loop to enhance financial inclusion. The study recommends that the available digital banking providers need to improve formation of groups among the users of the services to enable improve usability. The study recommends further that the women enterprises managers and proprietors need to be in groups to develop each other and assist access, use and improve digital banking and financial inclusion.

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.

Banking or Under-banking: Spatial Role of Financial Inclusion and Exclusion

2021 ◽  
pp. 097300522110371
Author(s):  
Rajat Singh Yadav ◽  
Kalluru Siva Reddy
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Social Inclusion ◽  
Probit Model ◽  
Financial Inclusion ◽  
Spatial Density ◽  
Bank Account ◽  
Banking Services ◽  
Economic Agents

Access to bank account is only a part of the problem when we talk of financial inclusion because several people with a bank account are not necessarily using them to deposit their savings or carry out transactions. This article makes an attempt to examine the reasons for low utilisation of banking facilities. It employs financial inclusion insights (FII) data for Indian population to find out an outcome of financial inclusion (and thus social inclusion as well) based on the usage of banking services with covariates like financial literacy, the probability that any financial service is accessible to the respondent in terms distance, type of mobile phone and spatial density. We use truncated probit model to measure the incidence of under-banking. Our findings show that there is a negative association between supply-side constraints and usage of banking services, implying that low access to financial services in time and space stands as a hindrance to financial inclusion. Further, we find from the financial inclusion and exclusion map at the district level that even though economic agents intend to participate in the space in which he/she is living is not much inclusive.

Islamic Banking in Indonesia

2020 ◽  
pp. 38-60
Author(s):  
M. Luthfi Hamidi ◽  
Andrew C. Worthington
Keyword(s):  
Central Bank ◽  
Financial Services ◽  
Banking Sector ◽  
Islamic Banking ◽  
Credit Allocation ◽  
Banking Services ◽  
The Past ◽  
The Government ◽  
Market Pressures

The Indonesian banking sector has been stable and generally sound over the past decade, partly through efforts by the Bank of Indonesia as Indonesia's central bank and Otoritas Jasa Keuangan as its financial services regulator. This chapter identifies important issues that remain for both conventional and Islamic banking in Indonesia. Authors suggest the government continue its efforts to reform what remains a geographically concentrated industry, to increase the role of bank credit in the economy, and to widen the provision of banking services through technology. Authors highlight the vulnerability of smaller banks in Indonesia to ongoing competitive market pressures and the necessity of creating larger banks through merger or capital raising and improving credit allocation to small and medium-sized businesses. Islamic banking has an important role to play in these developments, and those relating to Islamic social banking.

scholarly journals Financial inclusion as a factor for socio-economic development

2019 ◽  
Vol 2019 (3) ◽  
pp. 59-77 ◽  
Author(s):  
Kateryna Anufriieva ◽  
Andrii Shkliar
Keyword(s):  
Economic Development ◽  
Financial Market ◽  
Social Relations ◽  
Financial Services ◽  
Financial Inclusion ◽  
Alternative View ◽  
Stage Of Development ◽  
Financial Exclusion ◽  
Socio Economic Development

Paper dwells upon approaches to understanding the concept and role of financial inclusion. It is established that financial inclusion is one of the factors for economic development; the study of the role of financial inclusion among the factors for socio-economic development is substantiated. The evolution of the term “inclusion” has been traced from the area of social processes analysis at the social groups’ level, including various social relations, to the macroeconomic level. It has been revealed that a consistent definition of “financial inclusion” by key standards-setting institutions has been extended by financial market experts: interpretations of the term “financial inclusion” include its definition as “process”, “stage” (of development) or “state” (of development). Authors define the concept of financial inclusion as a process of interaction between financial market entities and financial services’ consumers, which, by providing equal access to financial services, offers a level of participation of financial services’ consumers in the financial relations, which contributes to the sustainability of financial institutions and increase of social welfare. There is an alternative view of the financial inclusion definition through its opposite concept of financial exclusion, which is either voluntary or forced, and is determined by four groups of reasons. It has been found that the most crucial is the need to reduce the fourth group of reasons, which are subject to compulsory exclusion, since this category of users is excluded from the financial system because of regulatory deficiencies or market barriers. Authors analyses consensus offered in the scientific literature regarding the three main aspects of financial inclusion: coverage, use and quality of financial services. Positive factors and risks of financial inclusion development, as well as negative aspects of financial exclusion are highlighted.

scholarly journals Financial Inclusion Disclosure: Empirical Evidence From Banking Industry Of Bangladesh

2021 ◽  
Vol 11 (1) ◽  
pp. 27-41
Author(s):  
Shaily Das
Keyword(s):  
Financial Services ◽  
Commercial Banks ◽  
Banking Sector ◽  
Stock Exchange ◽  
Financial Inclusion ◽  
Annual Reports ◽  
Commercial Development ◽  
Banking Services ◽  
Rural Credit ◽  
Bank Disclosure

Financial inclusion refers to the procedure of making financial services accessible to all individuals and businesses at reasonable costs. Financial inclusion strives to address the constraints that retard people from participating in the financial sector. It has been drawn much attention for its contribution to economic and commercial development, raising inclusive growth, minimizing income inequality all over the world, especially in developing countries like Bangladesh. Central Bank of Bangladesh (Bangladesh Bank) formulated a financial inclusion policy in 2009 intending to make banking services available to unbanked people. This study examines the Financial Inclusion Disclosure by 30 Banks (5 state-owned banks and 25 private commercial banks) of Bangladesh, which are listed in the Dhaka Stock Exchange during the period 2015-2019. The objective of the study is to analyze the activities of the banking sector of Bangladesh for making banking services available to unbanked people. For that purpose, annual reports of the selected banks have been studied, and findings are demonstrated through graphs. According to the study findings, priority areas of financial inclusion include school banking, agent banking, street children account,10 taka farmers account, SME financing, rural credit, women entrepreneur loan, etc.  This study also shows the prospects of financial inclusion, financial inclusion issues that are highly emphasized, barriers to financial inclusion, and initiatives needed to overcome these barriers.  This study findings depict that the financial inclusion performance of state-owned banks of Bangladesh is relatively better than those of private commercial banks, and inclusion actions are increasing with time. Policymakers might use these findings and also the banks to ensure no eligible person remains unbanked.   Keywords: Bangladesh Bank; disclosure; financial inclusion; unbanked people

scholarly journals Examination of the Status of Financial Inclusion and Its Determinants in Tanzania

2018 ◽  
Vol 10 (8) ◽  
pp. 2873 ◽  
Author(s):  
Josephat Lotto
Keyword(s):  
Gender Gap ◽  
Financial Services ◽  
Banking Sector ◽  
Telecommunication Network ◽  
Financial Education ◽  
Financial Inclusion ◽  
Financial Access ◽  
Banking Services ◽  
Level Of Education ◽  
Mobile Financial Services

The primary motive of this paper is to examine the determinants of financial inclusion in Tanzania. The paper borrows data from a household survey conducted by TWAWEZA. Employing the probit regression, the findings of this paper reveal that gender, education, age and income are the pertinent factors which affect the financial inclusion in Tanzania. The paper further shows the following: First, if you are a man, financially stable, have a good education and are relatively older, you then stand better chances of being financially included. The results show that, as the level of education increases, the individual is more likely to be financially included. The possible reason for this observation may be clearly linked with the financial ability of educated individuals to afford holding bank accounts and presenting personal guarantees when required by the banks during loan application because the level of education goes parallel with the income level. In addition, the results confirm a gender gap in formal financial inclusion, and this may be due to the factors such as inability of women to show collateral, their poor financial education awareness and lower business experience. Second, the paper also shows that the factors which affect traditional banking services are the same as those affecting mobile banking services (gender, age, income and education), and that there is a negative trend and a clear departure of customers’ usage from banking retail services to mobile financial services. Although this gap has been narrowed recently, the best option with the banking sector is to create more new delivery channels while using mobile financial services as an infrastructure to deepen financial access reaching more un-banked population. The paper, therefore, recommends banks to create more delivery channels while using mobile telecommunication network as an infrastructure to deepen financial access reaching more unbanked people rather than competing with mobile network operators. The findings of this paper may also be used as a wake-up call for policy makers to put more emphasis on women and young people who are often left behind during Government’s effort toward reaching the entire population as far as financial inclusion is concerned.

Mobile Financial Services

2021 ◽  
pp. 212-230
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.

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