Financial inclusion is a topic of increasing interest on the international policy agenda. Last week the Universal Postal Union (UPU) hosted the 2013 Global Forum on Financial Inclusion for Development. With over a billion people using the postal sector for savings and deposit accounts and a widespread presence in rural and poor areas, post offices (or “posts”) can play a leading role in advancing financial inclusion. In Brazil more than 10 million bank accounts were opened between 2002 and 2011 after the post established Banco Postal in partnership with an existing financial institution. However, leveraging the large physical network of the post is not without challenges. Posts generally have little or no expertise in running a bank and the business model that a government pursues in providing financial services through the postal network may be critical to its success.
What percentage of Sub-Saharan women under age 30 with a formal account use a community-based group to save? The answer is 26 percent, but until today you would have had difficulty finding that statistic. Not anymore. Today, the Development Research Group is publishing the complete micro dataset of the Global Financial Inclusion (Global Findex) dataset. This translates to over 150,000 individual-level observations, representing adults in 148 economies and 97 percent of the world’s adult population. Users can download the complete worldwide dataset, or datasets by country.
- Global Findex
I'll be hosting a one-hour live Question & Answer discussion on a new report I co-wrote with Asli Demirguc-Kunt titled "Measuring Financial Inclusion: The Global Findex Database," and will discuss its data methodology and main messages.
The post orginally appeared on All About Finance.
The facts are in. 50 percent of adults worldwide have an account at a formal financial institution. 21 percent of women save using a formal account. 16 percent of adults in Sub-Saharan Africa use mobile money. These are just a few of the thousands of data points now available in the Global Financial Inclusion (Global Findex) database, the first of its kind to measure people’s use of financial products across economies and over time.