World bank report: 100m adults lack access to banks
This number accounts for about 5% of the world’s unbanked population, which stands at 2 billion
KARACHI:
A World Bank report issued from Washington says about 100 million adults in Pakistan don’t have access to formal and regulated financial services. This number accounts for about 5% of the world’s unbanked population, which stands at 2 billion. Having a formal and regulated transaction account opens access to other financial services, such as savings, payments, insurance and credit, all of which can help people better manage their lives and reduce poverty. In May 2015, Pakistan launched its National Financial Inclusion Strategy (NFIS), a roadmap to help a country achieve its financial inclusion goals.
Published in The Express Tribune, February 11th, 2016.
A World Bank report issued from Washington says about 100 million adults in Pakistan don’t have access to formal and regulated financial services. This number accounts for about 5% of the world’s unbanked population, which stands at 2 billion. Having a formal and regulated transaction account opens access to other financial services, such as savings, payments, insurance and credit, all of which can help people better manage their lives and reduce poverty. In May 2015, Pakistan launched its National Financial Inclusion Strategy (NFIS), a roadmap to help a country achieve its financial inclusion goals.
Published in The Express Tribune, February 11th, 2016.