Towards an International Financial Inclusion Strategy, Institutional Frameworks and Enforcement: Setting Regulatory Benchmarks for the SADC Countries

Tuba, Maphuti; Lawack, Vivienne A

doi:10.1007/978-3-031-23863-5_2

Cited by 3 publications

References 28 publications

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Informal Credit Market: A General Overview

Yimer

2024

The Nexus Between Legal Pluralism and Inclusive Finance

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Informal credit markets are prevalent in many developing countries. Moneylenders, traders, unincorporated associations, families, and relatives provide credit and other financial services. In most cases, informal credit markets operate openly as they are not legally banned. However, they are also not subject to government regulation and control. So, they operate according to the local customs and norms. Informal credit markets play a critical role in the social and economic life of people with limited access to financial services from formal financial institutions. In this chapter, we provide an extensive review of informal credit markets. What social and economic functions do they provide to society, why do informal credit markets prevail even when formal financial institutions are geographically accessible to people, and how do governments and international development agents respond to informal credit markets? The theoretical discussion in this part provides insights into why the policy options to squeeze informal credit markets practically moneylenders have failed so far and what lesson can be taken from the nature and function of informal credit markets.

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Informal Credit Market: A General Overview

Yimer

2024

The Nexus Between Legal Pluralism and Inclusive Finance

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South Africa Aims to Increase Financial Inclusion to 90 Percent by 2030: Plausible or a Mere Ideal?

Ncube

2024

PER

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According to the National Development Plan (NDP) Vision 2030 of South Africa, South Africa aims to increase financial inclusion for everyone to 90 percent by 2030. However, a few challenges have arisen over the course of the years after the drafting of the NDP Vision 2030. This article will first trace some of these challenges under the category of practices that diminish the integrity of banks in South Africa. These challenges include banking fraud (phishing and vishing), automated teller machine (ATM) bombings and cash in transit heists (CITs), the unfair treatment of banking customers as well as the greylisting of South Africa by the Financial Action Task Force (FATF) resulting in failure to fully complying with international standards regarding the prevention of money laundering (ML), terrorist financing (TF) and proliferation financing (PF). It is also apparent that there are no clear guidelines or protocols that accompany the NDP Vision 2030 to comprehensively detail how the 90 percent financial inclusion target for all people in South Africa will be attained. In addition to this, the NDP does not provide any consequences to the stakeholders responsible for the promotion of financial inclusion and/or any exigency plans should 90 percent fail to be achieved by 2030. Undoubtedly, the above-mentioned challenges to financial inclusion place doubt on the achievement of 90 percent financial inclusion by 2030. This article aims to critically investigate these challenges that may have the potential to hinder the optimum achievement of financial inclusion in contemporary South Africa. Furthermore, this article will critically analyse the relevant legislation as well as related policies and regulations aimed at promoting financial inclusion in South Africa. Ultimately, the article will propose measures which may be useful in attaining 90 percent financial inclusion in South Africa by 2030 as per the NDP Vision 2030.

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Revolutionizing Digital Financial Inclusion With Central Bank Digital Currencies

R. V.,

Nanjundaswamy,

Loang

2024

Global Developments in Central Bank Digital Currency

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The new era of digital finance is revolutionizing traditional banking systems and payment methods. Central bank digital currency (CBDC) has emerged as a technology offering potential solutions to longstanding challenges in financial inclusion. This chapter explores the evolving landscape of digital finance and the transformative role of CBDC in promoting financial inclusion. The chapter begins with an overview of the evolving digital finance ecosystem and highlights the significance of financial inclusion as a catalyst for economic growth. Subsequently, the authors explore the key features and design principles of inclusive CBDC. Further, they critically assess the challenges and risks associated with CBDC implementation, addressing regulatory, technological, and operational considerations. They then analyse the potential role of CBDC in addressing financial inclusion through case studies of successful CBDC implementations. Finally, they conclude by outlining the future trajectory of CBDC as a catalyst for inclusive economic growth.

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Towards an International Financial Inclusion Strategy, Institutional Frameworks and Enforcement: Setting Regulatory Benchmarks for the SADC Countries

Cited by 3 publications

References 28 publications

Informal Credit Market: A General Overview

Informal Credit Market: A General Overview

South Africa Aims to Increase Financial Inclusion to 90 Percent by 2030: Plausible or a Mere Ideal?

Revolutionizing Digital Financial Inclusion With Central Bank Digital Currencies

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