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Banking on Financial Inclusion to Promote Economic Opportunity

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Transferring funds or making online payments is second nature for many, yet millions of people globally struggle to access basic financial services. Financial inclusion — improving access and availability of financial services for the poor — can reduce inequality and promote social mobility. When the poor have access to formal financial products such as savings accounts, insurance, and payment services, their economic opportunities are vastly improved. Financial inclusion can assist young entrepreneurs to build small businesses, and it can help mothers set aside funds for emergencies.

For more on this story visit the following link: Banking on financial inclusion to promote economic opportunity

Source: IDRC

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