The success of financial inclusion is judged by the number of people who are converted from unbanked to banked. Being ‘banked’ means that the person holds a transaction account in a financial institution (commercial banks, cooperatives, or microfinance institutes). However, simply having an account to your name is not enough. The person should be empowered … Read more
Lebanon as a country is constantly striving to cater to the needs of more than 6 million citizens as the country supports a multicultural society. The open border policy that was initiated by the country was one of the main reasons why there was an influx of refugees who came from Syria. As the country … Read more
Financial inclusion is really important for a country’s overall development. According to reports almost more than half of the population of developed countries is still unbanked. A big reason behind this is the barriers that are present against financial inclusion. Financial inclusion should not only focus on men it should equally include women as well. … Read more
While India as a country is going through the phase of “Emerging India” there are still a lot of areas where technology has not been fully used to serve any basic needs. Especially in the case of the underlooked and underdeveloped regions where people do not even get their basic financial requirements. This is where … Read more
Now you can do everything online, from transferring money to ordering groceries. Also, it is a proven fact that mobile money transfer has made our lives easy. Now you do not need to run to the bank in order to transfer money, make transactions, or deposit money into your bank account. You can do it … Read more
Recent success in the Microfinance industry has influenced a new banking strategy termed Base of the Pyramid. The International Finance Corporation (IFC) has $600 million in funding for a facility called Base of the Pyramid facility. This facility is the provision for affordable financial services from small providers to start-ups, small businesses, private investment loans, … Read more
A stable financial status is equally crucial for people living in rural areas as it is for people living in urban areas. It helps both groups to advance in life towards their long-term or short-term goals while accounting for any unexpected crises like natural disasters, medical emergencies, or death. In fact, financial stability is the … Read more
After 1997, when the internet connection was released for the common public, it ushered in an era where business and transactions became digitized and began to happen more online. Since the internet’s earliest days, more than three billion people have been using the internet, but the Internet growth hasn’t been equal. So naturally, the expansion … Read more
Financial Inclusion is one of the biggest factors for the world economy as more than 2.5 million people around the world are unbanked and devoided of basic financial services. Financial inclusion is necessary for all sectors including the public and private sectors. The reason for the financial exclusion happening is mostly because of poverty, reachability, … Read more
Remittances are the money or goods sent back home by migrant workers living in a foreign country. It is a fast-growing channel of payment that affects a country in various ways. Remittance flows are important to maintain economic stability and generate foreign exchange. However, the method of getting the money to family and friends is … Read more