Financial Inclusion, Regulation, Literacy, and Education in Central Asia and South Caucasus

Financial inclusion and education are essential for sustainable growth, but countries in Central Asia and the South Caucasus have lagged. This study examines recent trends, barriers, and policy options to support greater financial inclusion in seven countries. The region needs to adopt innovative financial technologies to promote inclusion.

Format: Paperback / softback
Length: 200 pages
Publication date: 30 July 2019
Publisher: ASIAN DEVELOPMENT BANK INSTITUTE

Financial inclusion and financial education are emerging as crucial prerequisites for sustainable and inclusive growth, as acknowledged by global forums like the Group of Twenty (G20) and the OECD. However, countries in Central Asia and the South Caucasus region have generally lagged in this area. Apart from Kazakhstan, the levels of financial inclusion are significantly below the average level of developing economies. Moreover, there has been limited research on the factors influencing and hindering the development of financial inclusion and financial literacy in this region.

In this comprehensive study, esteemed scholars from each country delve into recent trends in financial inclusion for individuals and small and medium-sized firms (SMEs) in seven countries: Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan, and Uzbekistan. They also examine institutional and regulatory barriers to expanding financial inclusion and explore policy options to promote greater financial inclusion while ensuring financial stability. Additionally, the book addresses issues related to assessing financial literacy and promoting financial education to support greater financial inclusion in the region.

A notable aspect of the region is the relatively slow adoption of innovative financial technologies that have the potential to enhance financial inclusion, such as mobile phone banking, crowd funding, and peer-to-peer (P2P) lending platforms. This book examines the challenges impeding the development of these technologies and proposes policies to facilitate their introduction.

By examining these trends, barriers, and policy options, this study provides valuable insights into the state of financial inclusion in Central Asia and the South Caucasus region. It aims to contribute to the ongoing efforts to promote financial stability, economic growth, and social well-being in these countries.

Weight: 472g
Dimension: 154 x 228 x 20 (mm)
ISBN-13: 9784899740933