Global Microscope Highlights Gains in Financial Inclusion and Digitization of Financial Services
Thursday, October 27, 2016
Latin America and the Caribbean (LAC) and East and South Asia have the most conducive environments for financial inclusion. India stands out for the most progress in the last three years and is now ranked third globally.
Financial inclusion is now on the global agenda and is understood to be a critical foundation in the improvement of livelihoods, according to The Economist Intelligence Unit’s (EIU) 2016 Global Microscope on Financial Inclusion. More than half of the 55 countries studied improved their enabling environment for financial inclusion in all areas in the past year. This year, India joins longtime leaders Peru, Colombia, and the Philippines at the top of the international country rankings.
The Microscope, a project of the EIU with technical support and oversight from the Center for Financial Inclusion at Accion, the Multilateral Investment Fund at the Inter-American Development Bank, and the MetLife Foundation, is intended to benchmark national progress on financial inclusion and catalyze reform.