Publications

Publications

Financial Inclusion in Developing Asia: Transactional Accounts, Savings, and Borrowing

Financial Inclusion in Developing Asia: Transactional Accounts, Savings, and Borrowing

Both theory and evidence suggest that financial inclusion can be a powerful tool for empowering the poor, for augmenting their earning potential, and for improving the quality of their lives.

 

As a result of growing concerns over rising inequality in Asia, inclusive growth that spreads productive opportunities and the fruits of growth more evenly across the entire population has emerged as a top regionwide strategic priority.

One key ingredient of inclusive growth is a financial system that expands access to financial services to poor  households. Access to finance enables the poor to protect themselves against adverse shocks and to balance their consumption and thus improve their welfare. It also expands their human capital and productive opportunities.

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