Whither Financial Inclusion? Performance of Bangladesh in the 2017 Global Findex

  • Sajid Amit Director, CES, University of Liberal Arts, Dhaka, Bangladesh
Keywords: Financial Inclusion Global Findex, Bangladesh.

Abstract

On April 19, 2018, the third Global Findex Database was released by the World Bank at the Bank’s Spring Meetings. According to CGAP, this dataset is “the financial inclusion community’s best demand-side measure of financial inclusion globally.” Overall, the dataset points to an increasingly inclusive financial world that is also transitioning to a digital economy. Bangladesh, too, made impressive gains in certain yardsticks for financial inclusion based on this dataset. For instance, the share of people with financial accounts increased from 29 percent to 41 percent, in three years. However, financial inclusion yardsticks should go beyond opening of bank and financial accounts and also encompass usage of accounts. It is only when people are actively using their accounts will we have meaningful financial inclusion.

References

CGAP (the Consultative Group to Assist the Poor) is a global partnership of more than 30 leading organization that seek to advance financial inclusion. It is housed at the World Bank.

Bull, Greta. (2018). New Global Findex: What You Need to Know. CGAP Blog. Available at: http://www.cgap.org/blog/new-global-findex-what-you-need-know

Her Majesty Queen Máxima of the Netherlands is UN Secretary-General’s Special Advocate for Inclusive Finance for Development and Honorary Patron of the G-20’s Global Partnership for Financial Inclusion.

Demirgüç-Kunt, Asli, Leora Klapper, Dorothe Singer, Saniya Ansar, and Jake Hess. 2018. The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. Washington, DC: World Bank.

Data on adults with a financial institution account include respondents who reported having an account at a bank or at another type of financial institution, such as a creditunion, a microfinance institution, a cooperative, or the post office (if applicable), or having a debit card in their own name

Bull, Greta. (2018). New Global Findex: What You Need to Know. CGAP Blog. Available at: http://www.cgap.org/blog/new-global-findex-what-you-need-know

Published
2018-08-15
How to Cite
Amit, S. (2018). Whither Financial Inclusion? Performance of Bangladesh in the 2017 Global Findex. Asian Finance & Banking Review, 2(2), 14-18. https://doi.org/10.46281/asfbr.v2i2.12
Section
Original Articles/ Review Articles/ Case Reports/ Short Communications