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Philippines offers insight into future of mobile banking and the poor

James I Davison's picture

It’s now evident that people in developing countries have access to the internet and mobile phones like never before, which (as I recently wrote about) may lead to increased economic growth, job creation and good governance. A huge piece of this broad puzzle is mobile banking, and utilizing mobile phones to bring financial services to people who wouldn't otherwise have access to banks ("unbanked").

A new study, released last month by the Consultative Group to Assist the Poor (CGAP) and GSMA, estimates that there are more than one billion people worldwide who are unbanked, yet have access to mobile phones. And by 2012, that number is expected to grow to 1.7 billion people.

Regional roundup: Finance in East Asia - Jul. 10

James Seward's picture

This is the latest installment of the regional round-up and it has been a while.  However, there has not been much groundbreaking news related to the financial crisis to report, with a few exceptions (more to come later). 

East Asian governments take action in time of financial crisis

James Seward's picture

In my last post, I discussed how emerging Asia is getting hit by the financial storm and the early signs of stress in the financial systems across the region. The intensity of this storm appears to be getting worse, but governments across East Asia are taking a wide range of measures to bolster their financial systems.

Is there a wave of bad debt on the horizon in Asia?

James Seward's picture

You may want to grab your surfboard to be prepared even though this wave may not yet be visible now.  There is little (public) focus on this question in Asia at the moment and I suspect that the reason is simple – over the past ten years we have witnessed a relatively long period of stability and rapid economic growth across Asia.  Such a situation can too easily breed complacency and high levels of risk-taking by banks,