Global financial and data capitalism has constituted new forms of knowledge, novel inscriptions which make that knowledge tangible and new ways of visualizing sources of value and profit. This paper examines a cluster of new practices designed to make visible – and extract value from – those without formal credit scores in contemporary financial markets. Many ‘financial inclusion’ projects now attempt to score the ‘credit invisible’ by drawing on a range of alternative data – non-financial payment streams, academic records, behavioural signals gleaned from online or social media footprints and results generated via digitized psychometric testing – and by assessing that data in relation to models of risk assessment based on the analysis of big data. I argue in this paper that these experiments in alternative credit scoring constitute the unbanked as an important, and dubious, category of knowledge and intervention. I also argue that attempts to score the unbanked offer a revealing glimpse of many of the social and political limitations associated with projects of ‘inclusion’. Although often imagined as forms of pristine incorporation, inclusion projects often constitute troubling new kinds of social sorting and segmentation.

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The financial crisis which crested in 2008/2009 sparked much debate regarding the future of global financial governance. Echoing the ways in which that crisis entailed a particular intrusion of ‘high finance’ into everyday lives, the main contention of this article is that critical analyses of finance would benefit from training attention onto the intersections between global finance and the level of the everyday and the mundane. To explore this intersection, this article reviews the increasing ways in which micro‐credit has been financialized. This process of micro/financialization, I argue, has been accomplished in very particular ways which have brought micro‐credit networks and their borrowers more fully into the spaces of global capital markets. This development, however, confronts vulnerable populations of micro‐borrowers with serious risks of various sorts. Most importantly, micro/financialization risks exporting — and globalizing — some of the riskiest parts of financial practices to the ‘poorest of the poor’. I conclude the article by noting the ways in which this involves a particularly dangerous extension of what some commentators have referred to as the ‘democratization of finance’.

There has been a tendency of late to conflate all Muslims as belonging to a single nation and aspiring to a single political aim. This effect has been achieved by some authors so as to accommodate Islamophobia, but by others to generate a sense of inclusive unity that encloses all Muslims. We contend that in the post 9/11 climate of Islamophobia women wearing the scarf, the mohajabehs, are making a political choice. They are publicly branding themselves as Muslims at a time when such a label carries the potential fear of making them vulnerable to open hostility. But the Islam that they embody is distinct and different from the stark, gendered divides envisaged by protagonists on both side of the Islamophobic divide. The unity demanded by some of the highly vocal and visible Islamic groups marginalises the contestations posed within these groups by women who may be described as feminists. The specificities demanded by those who envisage Islam primarily as an antagonistic political force in the UK are very different from the flexibility that many women envisage. They aspire to belong to the Umma or people of Islam, conceptualised as crossing ethnic, racial, geographical and political boundaries, an identity that is primarily inclusive rather than exclusive. The multiplicities of identities of many mohajabehs sit more easily within the permeable unbounded umma than the constrained gendered boundaries of the combative male political Islamism.

In the spring of 2007 an event dramatically reshaped conversations relating to microfinance. This event was the Initial Public Offering (IPO) of Mexico's largest microfinance organization, Compartamos. The IPO, as this article suggests, is indicative or a broader trend through which microfinance is increasingly becoming financialized, increasingly becoming governable as a financial object. This is important at one level because it crystallizes some of the key issues at stake as microfinance becomes increasingly more reliant on global capital markets. At another level, however, the Compatarmos case is significant because of the conceptual issues it raises in relation to global finance. The main argument I put forward in this article is that the Compatarmos case -and the process of financialization it represents -is important because it allows us to glimpse global finance, and the question of global financial governance, as a decentred process in formation. Drawing on a Foucauldian notion of governmentality, I argue that the Compatarmos case orbits around two processes; processes of incorporation and differentiation. In this context, the Compartamos case implies the importance of analyses that can make global finance visible as a diverse and mundane object that is never settled in any final kind of way.