Financial Inclusion

The concept, financial inclusion, was initially referred to the delivery of financial services to low-income segments of society at affordable cost. However, during the past decade, the concept has evolved into four dimensions: (i): easy access to finance for all households and entreprises, (ii) sound institutions guided by prudential regulation and supervision, (iii) financial and institutional sustainability of financial institutions, and (iv) competition between service providers to bring alternatives to customers. Demirguc-Kunt, Bent and Honohan (2007). For further details see: FINANCIAL INCLUSION: Islamic Perspective.

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