An enabling environment that facilitates competition, promotes innovation and the use. G20 financial inclusion indicators glossary world bank. To gauge progress on this issue, the financial and digital inclusion project at the brookings institution released its 2017 annual report that measures 26 countries along four dimensions. Policy research working paper 8040, world bank, washington, dc. Policy research working papers are also posted on the web at org. A slew of programs announced in recent years have fostered a more favorable business environment for financial technology or fintech models to emerge in the msme. Lastly, this report discusses opportunities to expand access to financial services. The 2017 global ficp survey covers key topics related to the enabling environment for financial inclusion and financial consumer protection, including national financial inclusion strategies, the issuance of emoney by nonbanks, agentbased delivery models, simplified customer due diligence, institutional arrangements for financial consumer. The little data book on financial inclusion 2018 unsgsa. In addition to being widely cited by scholars and development practitioners, global findex data are used to track progress toward the world bank goal of universal financial access by 2020 and the united nations sustainable development goals. Covering more than 140 economies, the indicators of financial inclusion measure how people. Equal opportunity for all, a world bank group flagship publication, is the 14th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. It continues the little data book on financial development series, and includes select measures of.
Policy research working papers are also posted on the web at. The global findex database 2014 measuring financial inclusion around the world. In addition, 22 percent of adults report having saved at a formal financial. Doing business presents quantitative indicators on business regulations and the protection of property rights that can be. From the end of 2018 to early 2019, the survey task force of the secretariat of the national council for inclusive finance dnki conducted the nationally representative financial inclusion insights survey to measure access to formal financial services in indonesia as of the end of 2018. The organizations mission is to end extreme poverty and boost shared prosperity in a sustainable way. Noncommercialyou may not use this work for commercial purposes. The database provides nationally representative, demandside data on access to and use of accounts, credit, payments, and savings by adults age 15 and above in 144 economies. Download the little data book on financial inclusion. An enabling environment that facilitates competition, promotes. In ethiopia, women account for a disproportionate share of the unbanked, and the gap is widening. New measurement and crosscountry impact assessment. National financial inclusion strategy 20172022 xi executive summary this national financial inclusion strategy nfis is a renewed commitment to financial inclusion in zambia and builds on previous efforts and ongoing initiatives by government. Access to a transaction account is a first step toward broader financial inclusion.
The organizations mission is to end extreme poverty and boost shared prosperity in a. Opportunities for expanding financial inclusion through digital technology. The financial development data tables 2017 2018 is a concise edition of the global financial development database published as part of the work on the global financial development report 2017 2018. Covering more than 140 economies, the indicators of financial inclusion measure how. Policy research working paper 8205, world bank, washington, dc. Figure 2 fintech solutions that can be applied at each step of the value chain sourcewbg study on fintech for msmes in india, 2017 in india, the world bank group has been supporting fintech for msme lending through the financing and knowledge partnership with the small industries development bank of india sidbi. Creative commons attributionnoncommercialnoderivatives 3. And it adds new data on the use of financial technology fintech, including the use of mobile phones and the internet to conduct financial transactions. Financial inclusion in india an assessment1 overcoming poverty is not a gesture of charity. Between 2014 and 2017, the share of adults who have an account with a financial institution or through a mobile money service rose globally from 62 percent to 69 percent. The financial development data tables 20172018 is a concise edition of the global financial development database published as part of the work on the global financial development report 20172018. Proceedings of the bank of morocco cemla ifc satellite seminar at the 61st isi world statistics congress, marrakech, morocco, 14 july 2017 created date. The document has been prepared for the international committee on credit reporting chaired by the world bank and composed by central banks and financial supervisory authorities, international financial institutions and industry.
This report, which relates to the 2017 financial year, includes comprehensive disclosure of our targets and the progress we have made on our diversity and inclusion strategy, which we commenced implementing in 2015. Measuring financial inclusion in more than 140 economies. The report will highlight the importance of financial inclusion for development and poverty. Isbn 9781912809530, pu2251 pdf, 438kb, 26 pages details the government is publishing its first annual financial inclusion report, taking stock of the governments progress on financial.
No derivative worksyou may not alter, transform, or build upon. The global findex database has become a mainstay of global efforts to promote financial inclusion. Global standardsetting bodies and financial inclusion the evolving landscape gpfi 2016 in the financial inclusion context, crowdfunding refers to a marketbased financing technique where funds are raised from large numbers of individuals or legal entities in small amounts, bypassing traditional financial intermediaries, and us. According to the 2017 world bank global findex study, an estimated 1. World bank annual report 2017 english the world bank. Binyam teshomeworld bank the world bank group wbg, with private and public sector partners, set an ambitious target to achieve universal financial access ufa by 2020. The dataset diagnoses legal barriers limiting womens full economic participation and encourages policymakers to reform discriminatory laws.
Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs transactions, payments, savings, credit and insurance delivered in a responsible and sustainable way. Global findex data is utilized to track progress toward the world banks goal of universal financial access by. The term experienced a revival early in 2015 with a major conference on the topic and publication of a. Oct 31, 2018 the indicators in the 2017 global findex database are drawn from survey data covering almost 150,000 people in 144 economiesrepresenting more than 97 percent of the worlds population see table a. Specifically, the authors find robust evidence that. The world bank on april 19, 2018 released the global findex report 2017 indicating that 55 percent of new bank accounts opened globally are from india itself. Demirguckunt, asli, leora klapper, dorothe singer, and peter van oudheusden. The report will benefit from new rich sources of data and information on financial inclusion around the world, including the global findex dataset, the global payment system survey and national financial capability surveys, produced by the world bank. From now on, we will report annually in august, starting with this coming august when we will release our report for the 2018. The reference citation for the 2014 global financial inclusion global findex data provided in this book is as follows. By february 2017, the pmjdy scheme had registered 273.
Interview with queen maxima in the munich re foundation annual report 2012. Financial inclusion global financial development repor t financial inclusion 2014 financial inclusion global financial development repo r t 2014 global financial development report 2014 is the second in a new world bank series. In 2014, an estimated 2 billion adults lacked access to a transaction account global findex 2014 and were excluded from the formal financial system. Financial development data tables 20172018 world bank. The little data book on financial inclusion 2018 world bank.
Global financial inclusion global findex database world bank. Financial inclusion on the rise, but gaps remain, global findex. Economic analysis suggests that the next impetus for growth in indias economy will come from micro, small, mediumsize enterprises msmes and startups. Overview of global data sources on financial inclusion. Measuring financial inclusion and the fintech revolution english.
Financial inclusion open knowledge repository world bank group. Financial inclusion global initiative figi symposium. It is the protection of a fundamental human right, the right to dignity and a decent life. National financial inclusion strategy bank of zambia. Financial inclusion event highlights findings of 2017 report. The 2017 global ficp survey covers key topics including. Doing business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economiesfrom afghanistan. The indicators in the 2017 global findex database are drawn from survey data covering almost 150,000 people in 144 economiesrepresenting more than 97 percent of the worlds population see table a. Jun 18, 2018 the world bank group wbg, with private and public sector partners, set an ambitious target to achieve universal financial access ufa by 2020. Global financial inclusion and consumer protection survey. Unsgsa thoughts on financial inclusion in post2015 development.
Pdf this paper provides the first analysis of the global financial inclusion. The little data book on financial inclusion 2018 the data represent a third round of data collection since the global findex database was launched in 2011. Abstract financial sector authorities increasingly prioritize financial inclusion and financial consumer protection, alongside existing priorities of stability and integrity. Cgap consultative group to assist the poor is an independent think tank that works to empower poor people to capture opportunities and build resilience through financial services. It contributes to financial sector policy debates, building on new data, surveys, research, and country experience. Innovation in financial inclusion 6 bank account penetration current state cvg current state potential banking revenues calculated on additional loans and increased consumption of financial services bank account penetration target state cvg target state 65% 74% apac pers anking e analysis c c p xpect at evenue or 3 espectively. Reserve bank of fiji fiji financial inclusion report. The little data book on financial inclusion world bank. A new world bank report on the use of financial services also finds that men remain more likely than women to have an account. The ufa goal envisions that, by 2020, adults globally will be able to have access to a transaction account or electronic instrument to store money, send and receive payments. The ufa goal envisions that, by 2020, adults globally will be able to have access to a.
World global financial inclusion global findex database 2017. Washington, april 19, 2018 financial inclusion is on the rise globally, accelerated by mobile phones and the internet, but gains have been uneven across countries. Table of select indicators 2014 download the little data book on financial inclusion. Drawing on survey data collected in collaboration with gallup, inc. The world bank comprises the international bank for reconstruction and development ibrd and the international development association ida. Women, business and the law wbl is a world bank group project that collects data on gender inequality in the law. Financial sector authorities increasingly prioritize financial inclusion and financial consumer protection, alongside existing priorities of stability and integrity. Measuring financial inclusion and the fintech revolution. World development indicators wdi is the primary world bank collection of development indicators, compiled from officially recognized international sources. Global financial inclusion and consumer protection world bank. Commonwealth bank diversity and inclusion report 2017. Financial inclusion report 2018 financial inclusion report 2017. The vision for financial inclusion in zambia is to have universal access to and usage of a broad range. Washington, april 19, 2018financial inclusion is on the rise globally, accelerated by mobile phones and the internet, but gains have been uneven across countries.
Sep 01, 2017 to gauge progress on this issue, the financial and digital inclusion project at the brookings institution released its 2017 annual report that measures 26 countries along four dimensions. Other colleagues, including wei zhang, djauhari sitorus, ashraf bin arshad, mohamed rozani. This policy brief discusses the role that credit reporting systems play in financial inclusion and identifies challenges and solutions to address these issues. Enhancing financial inclusion can improve resistance to economic shocks, boost productivity of businesses, facilitate female empowerment and help eradicate extreme poverty. Produced every three years, the world banks global findex is the. Global financial inclusion global findex database 2017. How credit reporting contributes to financial inclusion. When people can participate in the finan cial system, they are better able to start and expand businesses, invest in their childrens education, and absorb financial shocks. In response, the world bank group wbg with private and public sector partners set an ambitious target to achieve universal financial access ufa by 2020.
Financial financial inclusion is critical in reducing poverty and achieving inclusive economic growth. In 2011 the world bank launched the world bankgroup account. A new world bank report on the use of financial services also finds that men. Demirguckunt, asli, leora klapper, and dorothe singer.
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