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GFDR

Bank ownership: Trends and implications

Bob Cull's picture

In the wake of the Global Financial Crisis (GFC), many wondered whether the strong pre-crisis trend toward greater internationalization in banking would be reversed and, more immediately, whether local state-owned banks had to assume a larger role in restoring banking stability and ensuring the delivery of credit. We revisit those conjectures in the light of new data on bank ownership and research on the post-Crisis period (Cull, Martinez Peria, and Verrier, 2018).

The Promise of Financial Inclusion

Mahmoud Mohieldin's picture

The following post first appeared on the Huffington Post.

Half the world's adults, approximately 2.5 billion individuals, do not have an account with a formal financial institution. Lack of access to finance is disproportionately skewed towards the poor, women, youth, and rural residents. Defined as the proportion of individuals and firms that use financial services, financial inclusion is increasingly seen as critical for ending extreme poverty and supporting inclusive and sustainable development. It provides people with the tools to invest in themselves by saving for retirement, investing in education, capitalizing on business opportunities, and confronting shocks (Global Financial Development Report, 2014). According to the World Bank Group's newly launched Global Financial Development Report 2014 on Financial Inclusion, most of the unbanked cite barriers such as cost, lack of documentation, distance, lack of trust, or religious reasons.