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Financial Inclusion as a Tool for Poverty Reduction in the Middle East and North Africa

2016-06-28 Business & Economics
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Release : 2016-06-28
Genre : Business & Economics
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Book Rating : 648/5 ( reviews)

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Book Synopsis Financial Inclusion as a Tool for Poverty Reduction in the Middle East and North Africa by : Stefan Johnson

Download or read book Financial Inclusion as a Tool for Poverty Reduction in the Middle East and North Africa written by Stefan Johnson. This book was released on 2016-06-28. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2014 in the subject Economics - Finance, grade: 3, University of Applied Sciences Osnabrück (WiSo), course: International Business and Management, language: English, abstract: This paper observes the relationship between multiple variables in order to determine whether Financial Inclusion can be used as a tool for poverty reduction in the Middle East and North Africa. There are many reports that identify this to be function to something very likely as a tool around the world; however, there has been limited work regarding financial inclusion and the Middle East and North Africa. Through qualitative and quantitative research, this paper examines the possibility of this theory working in MENA. Wide income disparities, combined with government corruption, religious dispositions, and an overall lack of money are contributing barriers to the unbanked. These factors greatly limit the use of this tool until other issues are tackled and governments commit to more policies that will be conducive to growth; banks must be more open to lending; and people will have to become more financially literate. The World Bank, Gallup, the IMF, and various authors, in addition to the World Bank FINDEX dataset are used to reference information conceded by well-respected authors in the financial-, development-, and in the government sector. Although there seems to be a great deal of promise with the concept of Financial Inclusion as a Tool for Poverty Reduction world wide, it seems to be very limited in MENA, in the poverty-stricken nations. Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, and Yemen are observed in the report. Generally, there are barriers preventing the implementation of inclusiveness, which will prevent the advancement of poverty alleviation. More government commitment is required.

Why is There a Low Financial Inclusion in The Middle East and North Africa Region?

2018
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Release : 2018
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Book Synopsis Why is There a Low Financial Inclusion in The Middle East and North Africa Region? by : Sylvana Selim

Download or read book Why is There a Low Financial Inclusion in The Middle East and North Africa Region? written by Sylvana Selim. This book was released on 2018. Available in PDF, EPUB and Kindle. Book excerpt: Financial Inclusion is one of the most important subjects that recently caught the attention of several international organizations, used as a tool to reduce poverty, achieve economic growth and improves income distribution. The Objective of this study is to assess the reasons behind the low financial inclusion in particular the MENA region by using the World Bank's Global FINDEX database to perform probit estimations on the demand-driven factors and regression on the institutional and country level. We find that being a woman, older, more educated and richer are more likely to be financially included. Determinants differ between formal and informal saving and lending activities. For instance, women and educated households are more likely to resort to formal finance. Cash remains to be the main receiving and sending mean for many transactions. On the supply side, households who have access to the basic infrastructure and utility services, being unemployed and living away from remote areas as well as geographically proximity to institutions' branches, have higher probability to be included. Microfinance is still centered and dominated by credit but offering saving services is the starting point and the roadmap to financial inclusion.

The Global Findex Database 2017

2018-04-19 Business & Economics
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Release : 2018-04-19
Genre : Business & Economics
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Book Rating : 683/5 ( reviews)

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Book Synopsis The Global Findex Database 2017 by : Asli Demirguc-Kunt

Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt. This book was released on 2018-04-19. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. 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. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

Financial Inclusion for Poverty Alleviation

2017-12-12 Business & Economics
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Release : 2017-12-12
Genre : Business & Economics
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Book Rating : 121/5 ( reviews)

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Book Synopsis Financial Inclusion for Poverty Alleviation by : Essam Yassin Mohammed

Download or read book Financial Inclusion for Poverty Alleviation written by Essam Yassin Mohammed. This book was released on 2017-12-12. Available in PDF, EPUB and Kindle. Book excerpt: More than one billion people still live below the poverty line – most of them in South Asia and Sub-Saharan Africa. Financial inclusion is a major issue, as more than three-quarters of the numbers of poor and disadvantaged women and men do not have access to financial products and services, such as bank accounts, affordable and suitable loans, and insurance. The key objective of this book is to provide practical case studies of financial inclusion, rather than focus on academic debates such as the ideological basis of promoting microfinance. Using the recently adopted Sustainable Development Goals as an overall framing of the issues, it shows how poor and disadvantaged women and men can be bankable if the right facilitation for maximizing opportunities and addressing constraints are in place. Case studies confirm that achieving inclusive and sustainable access to financial products and services goes beyond simply enabling poor and disadvantaged women and men to have access to credit, or the ability to open a bank account. Examples from Africa, Asia and Latin America demonstrate encouraging progress in making microcredit accessible to millions of poor people. The foremost challenge, however, has been to ensure that they have access to, and usage intensity of, suitable and affordable financial products and services that meet the needs of their livelihoods as well as risks and mitigation strategies. This requires understanding that poor and disadvantaged women and men do not exist in isolation from complex and interdependent functions in the financial system, which includes a number of actors, diversified services, constraints (not just symptoms) and capacities and incentives. Overall, the book provides a rich source of examples of how building inclusive financial systems can empower the world's poor – by increasing income and employment opportunities, securing livelihoods and reducing poverty.

Natural Resource Abundance, Growth, and Diversification in the Middle East and North Africa

2012-10-01 Business & Economics
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Release : 2012-10-01
Genre : Business & Economics
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Book Rating : 920/5 ( reviews)

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Book Synopsis Natural Resource Abundance, Growth, and Diversification in the Middle East and North Africa by : Ndiame' Diop

Download or read book Natural Resource Abundance, Growth, and Diversification in the Middle East and North Africa written by Ndiame' Diop. This book was released on 2012-10-01. Available in PDF, EPUB and Kindle. Book excerpt: MENA holds more than 60% of oil and nearly 50% of gas reserves, making its economy very vulnerable to price fluctuations. This volume investigates the effect of natural resources and the role of policies on achieving higher and sustained growth through economic diversification.

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