Financial inclusion
Rajan urges ‘direct cash transfers' to poor people
RBI governor says transfer system would give the poor ‘choice and respect' and break the links between poor public service, patronage and corruption
Financial inclusiveness and financial stability are key to success
Bangladesh has achieved growth in excess of 6% for the past decade, aided by its focus on financial inclusion. The next step is to modernise finance, writes Atiur Rahman
Tanzania hits financial inclusion target early due to mobile surge
Benno Ndulu says the number of adults with access to financial services has doubled in five years; describes mobile phones as ‘critical link’ between the unbanked and the formal system
Lagarde says financial inclusion has key role in closing gender inequality gap
IMF managing director says women face extra cultural and educational hurdles in tapping into financial services, but financial inclusion can empower them
Zambia governor opens conference on financial inclusion for women
Michael Gondwe says deliberate policies and a long-term commitment will be needed to ensure financial inclusion for all Zambia's women
Rajan predicts ‘revolution’ in banking industry
The Indian banking sector is ‘on the cusp of revolutionary change’ as new developments and growing competition are breaking down the ‘grand bargains’ that once dictated its structure
Mexican deputy says financial system must be broadened and deepened
Bank of Mexico deputy governor Manuel Sánchez says the country's financial system must extend its reach geographically and across income strata
Banxico deputy wants 'prudent' deepening of credit markets
Bank penetration in Mexico remains low compared with other emerging markets, but 'prudence is sine qua non' for expanding financial inclusion, says Manuel Sánchez
IMF statisticians create composite index of financial inclusion
A working paper outlines the design of the index and then applies it to a sample of 31 countries; Maldives comes out on top while Chad gets the wooden spoon
One in five Albanians has never heard of current or savings accounts
According to survey data analysed in Bank of Albania working paper, less than half of respondents know the concept of interest rates, but 80% understands the workings of inflation
Governors grapple with regulatory implications of African mobile money growth
African central bank heads agree to develop comparative surveys of mobile money regulation, as mobile banking takes off
RBI’s Joshi calls for ‘revamped’ bank structures
Deepali Pant Joshi tells Indian banks to enhance their financial inclusion efforts by hiring a ‘separate cadre of staff’ to provide banking services to far-flung rural areas
MAS' Menon warns Myanmar over ‘big bang' liberalisation
Singapore monetary authority managing director says Myanmar must liberalise its financial sector, but at a measured pace
RBI committee wants a bank account for every adult by 2016
A report on financial inclusion released by the Reserve Bank of India calls for all residents to have a universal bank account, and an electronic payment point within a 15-minute walk
Macedonian central bank launches financial literacy drive
Joint initiative with the government and other state agencies aims to improve understanding of, and involvement in, the financial system; agencies will also seek to promote cross-border co-operation
Bank of Tanzania launches financial inclusion framework
East African country is aiming for 50% formal financial inclusion by 2016, up from 22% today; strategy will tackle supply side, demand side and structural obstacles
RBI's Joshi on the bank's wide-ranging strategies to raise financial awareness
RBI executive director says strategy is to raise financial literacy through initiatives like outreach visits and financial literacy centres, but also through 'comic books, plays and skits'
Developing countries focused on financial inclusion are reshaping central banking
Efforts in developing and emerging economies to promote financial inclusion for the world’s 2.5 billion unbanked population offer lessons to their developed world peers
Inclusion begets stability, Bangladesh Bank governor says
Atiur Rahman argues loans to diverse small-sized firms make for lower aggregate credit risk than big loans to ‘a few large borrowers'
Africa leads growth in financial inclusion, finds IMF study
Most comprehensive financial inclusion data set to date highlights rapid expansion of financial access in Africa; emphasises close links between growth and SMEs' access to finance
Digital payments key to financial inclusion, says Gates report
New report into financial inclusion says digital payments are the way forward – but financial service providers will need to charge fees in order to cover the cost of serving the poor
Downsides of technology-driven financial system highlighted at AFI conference
Bank Negara Malaysia governor Zeti Akhtar Aziz says in opening remarks that financially marginalised groups could suffer as everyday financial activities become increasingly sophisticated
RBI's Rajan sets out vision for ‘inclusive development'
India's new central bank governor hits the ground running, outlining several concrete policy measures ranging from a short-term forex swap window to national savings instruments
Bank Negara Malaysia strikes deals with AFI and HKMA
Malaysian central bank joins forces with the Alliance for Financial Inclusion to develop global capacity-building programmes; will work with HKMA on offshore renminbi business development