No derivative worksyou may not alter, transform, or build upon. Financial inclusion on the rise, but gaps remain, global findex. The ufa goal envisions that, by 2020, adults globally will be able to have access to a transaction account or. Unsgsa thoughts on financial inclusion in post2015 development. World bank annual report 2017 english the world bank. 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. 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. Measuring financial inclusion in more than 140 economies.
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. 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. Covering more than 140 economies, the indicators of financial inclusion measure how. 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. This policy brief discusses the role that credit reporting systems play in financial inclusion and identifies challenges and solutions to address these issues. 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. An enabling environment that facilitates competition, promotes. It is the protection of a fundamental human right, the right to dignity and a decent life.
Economic analysis suggests that the next impetus for growth in indias economy will come from micro, small, mediumsize enterprises msmes and startups. 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. Policy research working paper 8040, world bank, washington, dc. Overview of global data sources on financial inclusion. Other colleagues, including wei zhang, djauhari sitorus, ashraf bin arshad, mohamed rozani.
The term experienced a revival early in 2015 with a major conference on the topic and publication of a. By february 2017, the pmjdy scheme had registered 273. Washington, april 19, 2018financial inclusion is on the rise globally, accelerated by mobile phones and the internet, but gains have been uneven across countries. 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. Abstract financial sector authorities increasingly prioritize financial inclusion and financial consumer protection, alongside existing priorities of stability and integrity. G20 financial inclusion indicators glossary world bank. 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. This report was requested by the german g20 presidency, and was prepared by the. 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. The global findex database has become a mainstay of global efforts to promote financial inclusion. Isbn 9781912809530, pu2251 pdf, 438kb, 26 pages details the government is publishing its first annual financial inclusion report, taking. Financial inclusion report 2018 financial inclusion report 2017. Financial inclusion event highlights findings of 2017 report.
In addition, 22 percent of adults report having saved at a formal financial. 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. 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. Women, business and the law wbl is a world bank group project that collects data on gender inequality in the law. In 2014, an estimated 2 billion adults lacked access to a transaction account global findex 2014 and were excluded from the formal financial system.
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. 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. 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. The vision for financial inclusion in zambia is to have universal access to and usage of a broad range. In 2011 the world bank launched the world bankgroup account. Financial inclusion global initiative figi symposium. 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. 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. According to the 2017 world bank global findex study, an estimated 1. Table of select indicators 2014 download the little data book on financial inclusion. Financial financial inclusion is critical in reducing poverty and achieving inclusive economic growth.
Opportunities for expanding financial inclusion through digital technology. Covering more than 140 economies, the indicators of financial inclusion measure how people. Produced every three years, the world banks global findex is the. 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. The report will highlight the importance of financial inclusion for development and poverty. Demirguckunt, asli, leora klapper, and dorothe singer. A new world bank report on the use of financial services also finds that men remain more likely than women to have an account. Global financial inclusion and consumer protection survey. World development indicators wdi is the primary world bank collection of development indicators, compiled from officially recognized international sources. Enhancing financial inclusion can improve resistance to economic shocks, boost productivity of businesses, facilitate female empowerment and help eradicate extreme poverty. 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. Drawing on survey data collected in collaboration with gallup, inc. The little data book on financial inclusion world bank. Specifically, the authors find robust evidence that.
Global findex data is utilized to track progress toward the world banks goal of universal financial access by. Lastly, this report discusses opportunities to expand access to financial services. 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. Pdf this paper provides the first analysis of the global financial inclusion. The global findex database 2014 measuring financial inclusion around the world. 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 world bank comprises the international bank for reconstruction and development ibrd and the international development association ida. The global financial inclusion and consumer protection ficp survey 2017 is an effort undertaken by the world bank group to benchmark efforts to improve the enabling environment for financial inclusion and financial consumer protection. 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. New measurement and crosscountry impact assessment. Financial development data tables 20172018 world bank. National financial inclusion strategy bank of zambia. 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 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.
A new world bank report on the use of financial services also finds that men. Noncommercialyou may not use this work for commercial purposes. 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. Financial inclusion open knowledge repository world bank group. 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. The reference citation for the 2014 global financial inclusion global findex data provided in this book is as follows. 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. 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. Interview with queen maxima in the munich re foundation annual report 2012. 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. World global financial inclusion global findex database 2017. The 2017 global ficp survey covers key topics including. In ethiopia, women account for a disproportionate share of the unbanked, and the gap is widening.
Global financial inclusion global findex database 2017. The dataset diagnoses legal barriers limiting womens full economic participation and encourages policymakers to reform discriminatory laws. Policy research working papers are also posted on the web at. Housed at the world bank, cgap is supported by over 30 leading development organizations committed to making financial services meet the needs of poor people. Global financial inclusion and consumer protection world bank. 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. Financial inclusion in india an assessment1 overcoming poverty is not a gesture of charity. 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. From now on, we will report annually in august, starting with this coming august when we will release our report for the 2018. Doing business presents quantitative indicators on business regulations and the protection of property rights that can be. It continues the little data book on financial development series, and includes select measures of. 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. Demirguckunt, asli, leora klapper, dorothe singer, and peter van oudheusden.
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. Doing business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economiesfrom afghanistan. The little data book on financial inclusion 2018 unsgsa. Download the little data book on financial inclusion. The organizations mission is to end extreme poverty and boost shared prosperity in a sustainable way.
Global financial inclusion global findex database world bank. Reserve bank of fiji fiji financial inclusion report. The little data book on financial inclusion 2018 world bank. Measuring financial inclusion and the fintech revolution. 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. Policy research working paper 8205, world bank, washington, dc.
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