Enhancing Financial Capability and Inclusion in Mozambique PDF Download
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Author: World Bank Group
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Category : Electronic book
Languages : en
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Author: World Bank Group
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ISBN:
Category : Electronic book
Languages : en
Pages :
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Author: Weltbankgruppe
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Languages : en
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The key findings and recommendations presented in this report cover 4 main areas: financial inclusion, financial capability, relationship between financial inclusion and capability, and financial consumer protection. The remaining chapters are structured as follows. Chapter one explores the financial inclusion landscape in Mozambique. Chapter two gives an overview of Mozambicans' levels of financial capability, in particular about their financial knowledge, attitudes and behaviors. The relationship between financial capability and inclusion is discussed in chapter three. The last chapter investigates if the products which financially included individuals use are effectively meeting their needs.
Author: World Bank Group
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Languages : en
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Financial inclusion in Zambia has nearly doubled in the last ten years - from 21.3 percent in 2005 to 40.2 percent in 2016. This success was made possible by Zambia's Financial Sector Development Plan that concluded in 2015. And yet, when compared to other lower-middle income countries, Zambia fares less favorably in terms of account ownership, accessibility of bank branches, and usage of financial services. Main cited barriers are lack of funds, high fees, time-consuming travel, and lack of trust in the financial sector. Zambia aims to achieve universal access and has committed to implementing comprehensive national strategies for financial inclusion and financial education to accelerate progress. The World Bank survey covered in this report was requested by Zambian authorities to inform their further strategy work, help formulate quantifiable and concrete targets, and assess the effectiveness of future financial capability enhancing programs. The key findings and recommendations of the report cover areas related to Financial Inclusion, Financial Capability, and Financial Consumer Protection, followed by four chapters. Chapter 1 explores the financial inclusion landscape in Zambia. Chapter 2 reviews financial capability of Zambians in terms of their financial knowledge, attitudes, and behaviors. Chapter 3 analyzes the link between financial inclusion and financial capability in Zambia, and Chapter 4 assesses whether the financial products in Zambia meet consumers' needs.
Author: Weltbankgruppe
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Languages : en
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Approximately 41 percent of Moroccan adults use a formal financial product or service. This places Morocco well above the average level of financial inclusion in the Middle East and North Africa, as well as above the average level in lower middle income countries (18 percent and 28 percent, respectively). Bank accounts are the most commonly used financial product, with 28 percent of adults reporting having a deposit or checking account. Microfinance institutions (MFIs) currently reach about five percent of the adult population, a finding consistent with supply-side data. Insurance is used by around 24 percent of the adult population in Morocco which is mainly due to mandatory insurance classes. Allowing, and advocating for branchless banking offers the potential to further expand the coverage of financial services and to reach the poor, rural dwellers, and women. Moreover, initiatives to bring women into the financial sector need to reveal and take into account, the substantial differences which can exist between men and women in their access, needs, and preferences of financial services.
Author: Weltbankgruppe
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Category :
Languages : en
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Financial inclusion in Zambia has nearly doubled in the last ten years - from 21.3 percent in 2005 to 40.2 percent in 2016. This success was made possible by Zambia's Financial Sector Development Plan that concluded in 2015. And yet, when compared to other lower-middle income countries, Zambia fares less favorably in terms of account ownership, accessibility of bank branches, and usage of financial services. Main cited barriers are lack of funds, high fees, time-consuming travel, and lack of trust in the financial sector. Zambia aims to achieve universal access and has committed to implementing comprehensive national strategies for financial inclusion and financial education to accelerate progress. The World Bank survey covered in this report was requested by Zambian authorities to inform their further strategy work, help formulate quantifiable and concrete targets, and assess the effectiveness of future financial capability enhancing programs. The key findings and recommendations of the report cover areas related to Financial Inclusion, Financial Capability, and Financial Consumer Protection, followed by four chapters. Chapter 1 explores the financial inclusion landscape in Zambia. Chapter 2 reviews financial capability of Zambians in terms of their financial knowledge, attitudes, and behaviors. Chapter 3 analyzes the link between financial inclusion and financial capability in Zambia, and Chapter 4 assesses whether the financial products in Zambia meet consumers' needs.
Author: Banque mondiale
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Category :
Languages : en
Pages : 82
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Author: Weltbankgruppe
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Languages : en
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The existence of a sound financial consumer protection framework is fundamental to increasing access to and usage of financial services, and the quality of those financial services, along with supporting further financial sector deepening. Financial consumer protection is a necessary precursor to building trust in the formal financial sector and thus in encouraging financial inclusion. Further, consumer protection helps ensure that expanded access benefits consumers and the economy as a whole. While increased access can result in significant economic and societal benefits, it can be neutral or even harmful if consumers: (i) cannot exercise their rights as consumers, (ii) cannot select the financial products that suit them best; and (iii) are not protected from mis-selling, fraud, and other market abuses. The main objective of a CPFL Review is to assess the legal, regulatory, and institutional frameworks for financial consumer protection in a country, with reference to the good practices. The following areas are addressed: (i) institutional arrangements, (ii) the legal and regulatory framework, (iii) transparency and disclosure, (iv) business practices, (v) complaints handling and dispute resolution mechanisms and (vi) financial literacy/capability. All parts of a financial sector can be considered, including banking, non-bank credit institutions, insurance, securities, private pensions, and credit reporting.
Author: Weltbankgruppe
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Category :
Languages : en
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Book Description
The existence of a sound financial consumer protection framework is fundamental to increasing access to and usage of financial services, and the quality of those financial services, along with supporting further financial sector deepening. Financial consumer protection is a necessary precursor to building trust in the formal financial sector and thus in encouraging financial inclusion. Further, consumer protection helps ensure that expanded access benefits consumers and the economy as a whole. While increased access can result in significant economic and societal benefits, it can be neutral or even harmful if consumers: (i) cannot exercise their rights as consumers, (ii) cannot select the financial products that suit them best; and (iii) are not protected from mis-selling, fraud, and other market abuses. The main objective of a CPFL Review is to assess the legal, regulatory, and institutional frameworks for financial consumer protection in a country, with reference to the good practices. The following areas are addressed: (i) institutional arrangements, (ii) the legal and regulatory framework, (iii) transparency and disclosure, (iv) business practices, (v) complaints handling and dispute resolution mechanisms and (vi) financial literacy/capability. All parts of a financial sector can be considered, including banking, non-bank credit institutions, insurance, securities, private pensions, and credit reporting.
Author: World Bank Group
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Category : Electronic book
Languages : en
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Author: Thabsile Princess Ntshalintshali
Publisher:
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Category : Consumer education
Languages : en
Pages : 82
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