Malawi has scored poorly on the 2015 Brookings Financial and Digital
\nInclusion Project (FDIP) Report and Scorecard which evaluates access to
\nand usage of affordable financial services across 21 geographically
\nand economically diverse countries.<\/p>\n
The report, released on Monday, has ranked Malawi on position 19 out
\nof 21 countries surveyed.<\/p>\n
The FDIP report comes at a time when the Finscope Report of 2014 pegged financial inclusion at 54 percent, with 33 percent of Malawians having bank accounts.<\/p>\n
The countries received scores and rankings based on 33 indicators spanning four dimensions: country commitment, mobile capacity, regulatory environment, and adoption.<\/p>\n
The FDIP Report and Scorecard seek to answer a set of fundamental questions about today\u2019s global financial inclusion efforts, including: Do country commitments make a difference in progress toward financial\u00a0inclusion?<\/p>\n
The report also tries to assess what extent mobile and other\u00a0digital technologies advance financial inclusion. It also seeks to\u00a0find out what legal, policy, and regulatory approaches promote\u00a0financial inclusion.<\/p>\n
Three experts, John Villasenor, Darrell West and Robin Lewis analysed the financial inclusion landscape in Afghanistan, Bangladesh, Brazil, Chile, Colombia, Ethiopia, India, Indonesia, Kenya, Malawi, Mexico, Nigeria, Pakistan, Peru, the Philippines, Rwanda, South Africa, Tanzania, Turkey, Uganda, and Zambia.<\/p>\n
Malawi has scored highly, on 3rd<\/sup>\u00a0position, on regulatory environment. The country ranks 12th on\u00a0country\u00a0commitment, 16th<\/sup>\u00a0on mobile capacity and 19th on adoption.<\/p>\n The report has recognised Malawi for its efforts\u00a0to advance access to quality financial products through regulatory\u00a0mechanisms and various infrastructure initiatives.<\/p>\n Challenges to financial inclusion in Malawi, according to the report, include limited economic capital and telecommunications infrastructure, as well as fairly low literacy rates, income levels,\u00a0and mobile and banking penetration rates.<\/p>\n Bankers Association of Malawi (Bam) President Misheck Esau said financial institutions are doing everything possible to bring as many people as possible into the banking system.<\/p>\n","protected":false},"excerpt":{"rendered":" Malawi has scored poorly on the 2015 Brookings Financial and Digital Inclusion Project (FDIP) Report and Scorecard which evaluates access to and usage of affordable financial services across 21 geographically and economically diverse countries. The report, released on Monday, has ranked Malawi on position 19 out of 21 countries surveyed. The FDIP report comes at […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-8008","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/8008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=8008"}],"version-history":[{"count":0,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/8008\/revisions"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=8008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=8008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=8008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}