Unlocking innovation in the Middle East through financial inclusion
May 2, 2016 Editor 0
I recently attended an SME Conference in Jordan around SME Finance and Employment – extremely important issues in a troubled region. All participants agree that much more needs to be done to address the lack of jobs in the region and to increase financial access at all levels, to individuals, households and small and medium scale enterprises (SMEs).
The Middle East remains the most financially excluded region in the world despite being a middle income region.
Only 4% of unbanked adults in the Middle East say that they don’t have an account because they don’t need one. In other words, it is clear there is widespread unmet demand for financial services.
A person living in the Middle East is less likely to have a bank account than is a low-income person living in Africa or South Asia, and significantly less likely than a person living in Latin America, Eastern Europe or East Asia from comparable middle income country or region. This poses a dilemma – why?
- Key lessons for policymakers from China’s financial inclusion experience
- Leveraging ‘suptech’ for financial inclusion in Rwanda
- Can ‘fintech’ innovations impact financial inclusion in developing countries?
- Championing interoperability for financial inclusion: carrot or stick?
- New G20 White Paper explores the fast-evolving role of standard-setting bodies for financial inclusion
- Developing a financial inclusion strategy: 5 lessons from Paraguay
Categories: World Bank PSD
Subscribe to our stories
- SL Crowd Green Solutions September 21, 2020
- Digital transformation in the banking sector: surveys exploration and analytics August 3, 2020
- Why Let Others Disrupt You? Take the Smart Self-Disruption Journey! August 3, 2020
- 5 Tips for Crowdfunding During the Pandemic August 3, 2020
- innovation + africa; +639 new citations August 3, 2020