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Financial Literacy an Imperative for Inclusion in Nigeria
Of the adult population, 17 per cent are served by informal institutions and 46 per cent are completely excluded. These 58 million unbanked Nigerians are the primary targets of Financial Inclusion.
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- Sub-Saharan Africa
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Moving India Toward Universal Financial Inclusion: Part 2 of our Q&A with Nachiket Mor
The Nachiket Mor committee report on financial inclusion in India has sparked excitement and debate domestically and around the world. In part two of our Q&A with Mor, we discuss India’s move toward a cashless economy, the need for responsive regulations, and how the committee’s recommendations could impact India’s economy and low-income communities.
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FinScope reveals significant increase in financial services inclusion in South Africa
FinMark Trust annual FinScope South Africa 2013 survey results reveals a significant increase in financial inclusion compared to last year from 28.9 million people in 2012, to 30.7 million in 2013.
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AmEx Pushes Tech to Bank the Unbanked
America's unbanked and underbanked spent $78 billion on fees and interest in 2011; $30 billion in overdraft fees. Meanwhile, 93% of branch closures over the last five years have been in low-income neighbourhoods.
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United Bank for Africa Strengthens E-banking Channels to Boost Financial Inclusion
The Division head said that UBA’s innovative e-Channels have accorded the customers triple gains of financial control, convenience and security.
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- Region
- Sub-Saharan Africa
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Microfinance Institutions Network Seeks Early Implementation of Mor Panel Report in India
"Our customers are demanding number of banking services from MFIs. They want services beyond loan offerings, including insurance, invesment opportunities, inter-bank trading services, where banks find it difficult to provide services due to various reasons," said Alok Prasad, chief executive officer (CEO), MFIN.
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- Region
- South Asia
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Women in Kenya stay united to reap benefits from micro-loans
Women in Kenya are reaping huge from micro-lending institutions because of their ability to form groups and stay united. The women, majority who are in groups commonly known as chamas, are the biggest beneficiaries of micro-loans in the East African nation.
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Digital financial inclusion is vital to India’s poor citizens, says Gates
India is poised to lead the world in connecting the poor to bank accounts through mobile phones. This is an ambitious goal. According to the World Bank, only 35% of Indians use formal financial services right now. But India can get to 100%, and if it does hundreds of millions of Indians will be able to create better opportunities for themselves and their families.
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