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Banking Services for Everyone? Barriers to Bank Access and Use around the World

Beck, Thorsten; Demirguc-Kunt, Asli; Martinez Peria, Maria Soledad
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
66.51%
Using information from 193 banks in 58 countries, the authors develop and analyze indicators of physical access, affordability, and eligibility barriers to deposit, loan, and payment services. They find substantial cross-country variation in barriers to banking and show that in many countries these barriers can potentially exclude a significant share of the population from using banking services. Correlations with bank- and country-level variables show that bank size and the availability of physical infrastructure are the most robust predictors of barriers. Further, the authors find evidence that in more competitive, open, and transparent economies, and in countries with better contractual and informational frameworks, banks impose lower barriers. Finally, though foreign banks seem to charge higher fees than other banks, in foreign dominated banking systems fees are lower and it is easier to open bank accounts and to apply for loans. On the other hand, in systems that are predominantly government-owned, customers pay lower fees but also face greater restrictions in terms of where to apply for loans and how long it takes to have applications processed. These findings have important implications for policy reforms to broaden access.

Anti-Money Laundering and Combating the Financing of Terrorism : Niger

World Bank
Fonte: GIABA and the World Bank, Washington, DC Publicador: GIABA and the World Bank, Washington, DC
EN_US
Relevância na Pesquisa
56.44%
The assessment of the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) regime in Niger was conducted on the basis of the Forty Recommendations and the Nine Special Recommendations on the financing of terrorism drawn up in 2003 and 2001, respectively, by the Financial Action Task Force (FATF), and on the AML/CFT Methodology of 2004. The assessment was based on the laws, regulations, and other materials supplied by the national authorities of Niger, as well as the information gathered in the course of the country visit from June 16 to 27, 2008. During its visit, the assessment team met with the managers and representatives of all the relevant government agencies and the private sector The assessment was conducted by an evaluation team from the World Bank and the Intergovernmental Anti-Money Laundering Group in West Africa (GIABA). To this end, they analyzed the institutional framework, the AML/CFT laws and regulations, regulations, guidelines and other obligations, as well as regulatory or other regimes in force in Niger for combating money laundering and the financing of terrorism. The capacity...

The Foundations of Financial Inclusion : Understanding Ownership and Use of Formal Accounts

Allen, Franklin; Demirguc-Kunt, Asli; Klapper, Leora; Peria, Maria Soledad Martinez
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
66.67%
Financial inclusion -- defined here as the use of formal accounts -- can bring many welfare benefits to individuals. Yet we know very little about the factors underpinning financial inclusion across individuals and countries. Using data for 123 countries and over 124,000 individuals, this paper tries to understand the individual and country characteristics associated with the use of formal accounts and what policies are effective among those most likely to be excluded: the poor and rural residents. The authors find that greater ownership and use of accounts is associated with a better enabling environment for accessing financial services, such as lower account costs and greater proximity to financial intermediaries. Policies targeted to promote inclusion -- such as requiring banks to offer basic or low-fee accounts, exempting some depositors from onerous documentation requirements, allowing correspondent banking, and using bank accounts to make government payments -- are especially effective among those most likely to be excluded. Finally...

Mexico : New Technology-Enabled Channels to Scale Up Financial Access

International Monetary Fund; World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
56.54%
This is a technical note for the 2011 the Financial Sector Assessment Program (FSAP) carried out in Mexico. The focus of this document is the new technology-enabled channels to scale up financial access being employed. Key issues such as a pro-inclusion policy environment and harnessing technology for financial inclusion are discussed. Issues relevant to enabling policy framework, such as new banking regulations for branchless banking, types of licenses, types of accounts, electronic transaction mechanisms, use of banking correspondents outsourcing of operations/IT platforms, as well as other regulations affecting branchless banking propositions, are also elaborated on. Segments are devoted to the market, mobile banking schemes and the consequent recommendations as well.

What Regulatory Frameworks are More Conducive to Mobile Banking? Empirical Evidence from Findex Data

Gutierrez, Eva; Singh, Sandeep
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
56.42%
Mobile banking services offer great potential to expand financial services, particularly payment services, to the poor. They also provide a convenient and cost effective way to access bank accounts. This paper constitutes a first attempt to explain statistically what factors contribute to mobile banking usage, with a particular focus on the regulatory framework. The authors construct an index that measures the existence of laws and regulation that support mobile banking activity for 35 countries. Using variations in regulatory environments across these countries and armed with newly released data on mobile banking usage by approximately 37,000 individuals in these 35 countries, the paper sheds light on the importance of laws and regulation in supporting mobile banking. The analysis finds that a supporting regulatory framework is associated with higher usage of mobile banking for the general population as well as for the unbanked.

Financing of Panchayati Raj Institutions in World Bank-Financed Operations

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
56.5%
The Government of India (GOI) is committed to strengthening Panchayati Raj Institutions (PRI) with a concerted effort to integrate and secure a central role for the village to district-level governments in World Bank-financed operations. The World Bank is actively seeking ways of achieving a greater degree of internal coherence between Bank-financed operations and consistency with the GOI approach to decentralization. With these objectives as backdrop, the report financing of panchayati raj institutions in World Bank-financed operations provides advice to World Bank task teams and clients for designing appropriate fiduciary mechanisms for PRI financing, ones that are consistent with the GOI constitutional framework and comply with World Bank operational policies and procedures. The report uses findings from a mapping exercise of ongoing Bank-financed operations in Panchayati Raj Institutions, analyzing the public financial management and accountability (PFMA) and procurement arrangements to determine what has or has not worked well and whether any can be replicated or mainstreamed. The report also covers the efficiency issues of panchayati raj institutions dealing with multiple financing sources with a resulting heavyload of reporting requirements; the extent to which existing PRI systems are being utilized or could have been utilized...

Egyptian National Postal Organization : Postal Financial Services and Access to Finance

World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
56.56%
ENPO is an organization employing 48,000 staff and operating a network of more than 9,000 access points (of which 3,500 post offices, 6,500 agencies, of which 1,500 are currently active). A commercial entity with management autonomy, ENPO is primarily a provider of basic financial services. Other services are mail (regular and express), parcels and Government services. Postal financial services, with three main business lines (savings, payments and giro services) and 15 million savings accounts, generate around 50% to 60% of ENPO s total revenue, and occupy an estimated 15% of ENPO s staff. Although available accounting and financial information are limited, it seems that postal financial services are operated at a profit. For ENPO which is currently in a transition phase from an administration-type of organization, moving towards a corporate-type of organization, the strategic option will play as an accelerator of change (in case the Government decides for a drastic move towards bancarization) or as a consolidator of incremental reform (in case the Government opts for a progressive approach...

World Bank Corporate Scorecard, April 2014

World Bank Group
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
56.41%
The World Bank Group Corporate Scorecard is designed to provide a high-level and strategic overview of the World Bank Group s performance toward achieving the two goals. It is the apex from which indicators cascade into the monitoring frameworks of the three World Bank Group institutions. The Scorecard is structured into three tiers. These three tiers are the components of a unified results and performance monitoring framework with indicators grouped along the result chain as follows: the Scorecard monitors, at an aggregate level, how the World Bank Group implements its Strategy and improves its performance (Tier III) in order to support clients in achieving results (Tier II) in the context of global development progress (Tier I).

Enhancing Financial Capability and Inclusion in Morocco : A Demand-Side Assessment

World Bank Group
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
56.52%
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...

Paraguay Diagnostic Review of Consumer Protection and Financial Literacy : Volume 2. Comparison with Good Practices

World Bank
Fonte: World Bank Group, Washington, DC Publicador: World Bank Group, Washington, DC
EN_US
Relevância na Pesquisa
56.44%
This review of the Consumer Protection and Financial Literacy Framework (CPFL) in Paraguay was undertaken in response to a request for technical assistance in this area made by the Central Bank of Paraguay (BCP). The objectives were: (i) to assess the existing consumer protection and financial literacy framework by reviewing laws, regulations, and actual practices in Paraguay, and comparing it with international good practice; and (ii) to provide recommendations on ways to improve the level of financial consumer protection and financial literacy in the country. The Diagnostic Review provides a detailed assessment of the institutional, legal and regulatory framework for consumer protection in four segments of the financial sector: (i) banks and finance companies, (ii) financial cooperatives, (iii) insurance companies, and, - in reflection of the important role they play in Paraguay - (iv) non-bank agents and mobile payment providers. Its findings and recommendations cover six thematic areas: (i) Institutional Arrangements...

World Bank Group and World Bank Corporate Scorecards, October 2015

World Bank Group
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Report; Publications & Research; Publications & Research :: Annual Report
ENGLISH; EN_US
Relevância na Pesquisa
66.47%
In July 2013, the World Bank Group launched its Strategy, outlining how it will partner more effectively with clients to help them achieve the ambitious goals of eradicating extreme poverty and boosting shared prosperity through economic growth, inclusion, sustainability and resilience. In April 2014, the World Bank Group Corporate Scorecard was launched for the first time and the World Bank Scorecard revised to monitor the implementation of the strategy. The World Bank Group Scorecard provides view of the results and performance indicators of the three World Bank Group institutions: the World Bank (WB), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). This brochure presents the scorecards, updated with the latest data available in fiscal year 2015. The scorecards are structured in three tiers. A tier one and two presents indicators monitoring aspects of growth, inclusiveness, and sustainability and resilience. Tier three captures the progress in implementing the World Bank Group strategy and includes measures of both operational and organizational effectiveness.

Financial Inclusion in Brazil : Building on Success

International Monetary Fund; World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Financial Sector Assessment Program (FSAP); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
56.56%
The development of a far reaching correspondent banking network is one of the key factors behind Brazil's success story in financial inclusion. Between 2005 and 2011, the number of correspondents approximately doubled to more than 160,000. The Central Bank encouraged financial institutions to reach out to more distant consumers and to communities where they had not previously been active, including lower income areas, through partnerships with a variety of retail establishments including some with public ties such as the post office network and lottery agencies. Regulators have gradually reduced restrictions on correspondent banking, such as individual approval processes, in response to early successes with this program. The legal framework also facilitated healthy expansion by putting the onus on regulated institutions to train and monitor their correspondents. This Technical Note (TN) does not include an analysis of the causes underlying Brazil's continued high credit cost but many of the issues discussed here may be contributing factors. These include the lack of savings and related dependence on credit which may reduce price elasticity in credit markets; information asymmetries which add to the cost of credit evaluation and increase risk for lenders; and competition issues (as with mobile payments and the so-called no-surcharge-rule on payment methods). The Aide Memoire for the FSAP mission provides further discussion of these important issues.

Malaysia : Sustainable Adoption of Innovative Channels for Financial Inclusion

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Financial Sector Assessment Program (FSAP); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
56.46%
This note focuses on the regulatory and market environment relevant to the emergence and adoption of innovative delivery channels to promote greater financial inclusion in Malaysia. Financial inclusion is defined here not only as providing access to financial services, but also as enabling and promoting increased usage of those services. Achieving higher levels of access and usage requires an extensive and efficient retail payments infrastructure, affordable financial products that meet the needs of customers, and actions to address cultural and social factors that influence customers' choices. This note therefore considers the implications for financial inclusion of Malaysia's evolving retail payments landscape and the country's potential to go beyond providing physical access to services. Malaysia has achieved remarkable progress in providing access to basic bank accounts to the majority of the population and credit to small and medium enterprises. Increasing access and usage will depend, to a large extent...

World Bank Group and World Bank Corporate Scorecards, October 2014

World Bank Group
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Publications & Research :: Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
56.47%
The 2014 World Bank Group Corporate Scorecard for the fall Annual Meetings is designed to provide a high-level and strategic overview of the World Bank Group's performance toward achieving the two goals. It is the apex from which indicators cascade into the monitoring frameworks of the three World Bank Group institutions. The Scorecard is structured in three tiers: 1) The Goals and Development Context tier provides an overview of progress on key development challenges faced by World Bank Group client countries; 2) The Results tier reports on the key sectoral and multi-sectoral results achieved by World Bank Group clients with support of World Bank Group operations in pursuit of the goals; and 3) The Performance tier captures World Bank Group performance in implementation of the World Bank Group Strategy and includes measures of both operational and organizational effectiveness. These three tiers are the components of a unified results and performance monitoring framework with indicators grouped along the result chain as follows: the Scorecard monitors...

Protecting Mobile Money against Financial Crimes : Global Policy Challenges and Solutions

Chatain, Pierre-Laurent; Zerzan, Andrew; Noor, Wameek; Dannaoui, Najah; de Koker, Louis
Fonte: World Bank Publicador: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
ENGLISH
Relevância na Pesquisa
56.46%
There has been significant discussion on the potential power of mobile-based technologies to provide unbanked populations with access to financial instruments and channels. Through the specific use of mobile money (m-money) services, for example, customers have accessed informational services, such as balance inquiries in their bank accounts, and transactional services, such as sending remittances to other people or paying for goods and services via their mobile phones. M-money has also been used by national governments to pay employee salaries and benefits. A key objective of this report is to discourage use of informal systems through the creation of a proportionate and not overly burdensome regulatory framework. Overly restrictive identification and verification processes in know-your-customer (KYC) policies, for example, may push users back to the informal financial system. The evolution of m-money in Africa and in non-African, low-income countries means that low-income and low-capacity countries are grappling with ways to ensure compliance with international Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) standards. Thus...

Turkey : Non-Bank Financial Institutions and Capital Markets Report

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Other Financial Sector Study; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
66.33%
Longstanding macroeconomic instability, and inflation in Turkey, have discouraged investment in financial assets, and a persistently high public sector borrowing requirement has crowded funding for the private sector. Notwithstanding, the Government's ongoing stabilization, and structural reforms, are improving the prospects for the development of financial services, though a series of policy issues should be addressed. This study identifies such issues, and formulates recommendations to better address them. Chapter I outlines the advantages of a broad based, diversified financial services industry, lays out the evidence of a clear correlation between financial system development, and per capita income, and, analyzes the outlook for such financial services industry over the next five years. Chapter II, in addressing the mobilization of savings, describes the extent to which macroeconomic uncertainty, chronically high inflation, and ill-suited tax policies have driven significant savings into real estate, gold...

Improving Access to Banking : Evidence from Kenya

Allen, Franklin; Carletti, Elena; Cull, Robert; Qian, Jun; Senbet, Lemma; Valenzuela, Patricio
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
56.51%
Using household surveys and bank penetration data at the district-level in 2006 and 2009, this paper examines the impact of Equity Bank -- a leading private commercial bank focusing on microfinance -- on access to banking in Kenya. Unlike other commercial banks in Kenya, Equity Bank pursues distinct branching strategies that target underserved areas and less-privileged households. Equity Bank presence has a positive and significant impact on households' use of bank accounts and bank credit, especially for Kenyans with low income, no salaried job, and less education and those who do not own their own home. The findings are robust to using the district-level proportion of people speaking a minority language as an instrument for Equity Bank presence. It appears that Equity Bank's business model -- providing financial services to population segments typically ignored by traditional commercial banks and generating sustainable profits in the process -- can be a solution to the financial access problem that has hindered the development of inclusive financial sectors in many African countries.

Banking the Poor : Measuring Banking Access in 54 Economies

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Publications & Research :: Publication; Publications & Research
EN_US
Relevância na Pesquisa
56.65%
Banking the Poor presents new data collected from two sources: central banks, and leading commercial banks in each surveyed country. It explores associations between countries' banking policies and practices, and their levels of financial access measured in terms of the numbers of bank accounts per thousand adults. It builds on the previous work of measuring financial access through information obtained from regulators, banks, and household surveys. It explores associations between countries' banking policies and practices, and their levels of financial access, measured in terms of the numbers of bank accounts per thousand adults. The extent to which people are banked depends primarily on how wealthy they are. Even in the poorest countries, rich urban customers get access to good banking. Although there are a range of financial services used by the poorest, these are usually provided outside the formal banking system. Banks are used by those above this threshold, usually by salaried employees who have the steady income. Naturally banks are more likely to seek out users with a steady, predicatable income. Expanding credit for enterprises leads to the creation of a salaried class that wants to bank: this is the primary way to increase bank access. While bank clients make up the largest part of those using financial services in most countries...

Extending Financial Services with Banking Agents

Siedek, Hannah
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
ENGLISH
Relevância na Pesquisa
56.39%
Banking agents are retail vendors, lottery outlets, and post offices-trusted local establishments that can double as a kind of bank branch for their customers, processing everything from bill and pension payments to deposits, withdrawals, and money transfers. Banking agents' lower set-up and running costs promise to help banks and microfinance institutions reach more and poorer people living far from the nearest branch, with more financial products, at lower cost, than traditional microfinance or banking channels. Banking agents process transactions with point-of-sale (POS) card readers, barcode scanners, and sometimes personal computers that connect with the bank's server using a dial-up or other data connection. The clerk at the retail or postal outlet collects and disburses cash and, in some cases, opens bank accounts for new clients and fills in credit applications. The retail outlets earn a portion of the transaction fee. Some generate so much business from handling these transactions that they dedicate an employee to operating the POS device. Some banks use management companies to identify...

Anti-Money Laundering and Combating the Financing of Terrorism : Mali

World Bank
Fonte: GIABA and the World Bank, Washington, DC Publicador: GIABA and the World Bank, Washington, DC
Tipo: Economic & Sector Work :: Other Financial Accountability Study; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
56.44%
This assessment of the Anti-Money Laundering and Combating the Financing of Terrorism (AML-CFT) regime in Mali was conducted on the basis of the Forty Recommendations of 2003 and the Nine Special Recommendations on the financing of terrorism drawn up in 2003 and 2001, respectively, by the Financial Action Task Force (FATF), and on the AML-CFT Methodology of 2004. The assessment was based on the laws, regulations, and other materials supplied by community institutions (in particular the Central Bank of West African States (BCEAO), the Banking Commission of the West African Economic and Monetary Union (BC-WAEMU) and the Inter-ministerial Group for Action Against Money Laundering in West Africa (GIABA)) and by the national authorities of Mali, as well as the information gathered in the course of the country visit from February 4 to 14, 2008. During its visit, the assessment team met with the managers and representatives of all the relevant government agencies and the private sector. This report provides a summary of the AML/CFT measures in force in Mali as at the date of the on-site visit or immediately thereafter. It describes and analyzes those measures...