Financial Inclusion, Financial Regulation, and Education in Bangladesh
Khalily, M. A. Baqui | December 2016
Abstract
Like in many other countries, inclusive finance for inclusive growth has become a policy issue in Bangladesh following the global financial crisis in 2008. Over the past 10 years, intensity of financial deepening and access to financial services has increased. Both banks and microfinance institutions have contributed to higher intensity. A recent study shows that around 40% of the adult population and 75% of households have access to financial services in Bangladesh. Several factors may have contributed. Proactive regulatory policies and expanded financial literacy are the major determinants. In this paper, regulatory policies have been evaluated and the effect of financial literacy on financial inclusion has been examined empirically. Our analysis suggests that the regulatory agencies in Bangladesh have formulated policies for promoting financial inclusion and creating investment opportunities for micro and small firms in particular. Our empirical evidence, based on household-level data, shows that the intensity of financial literacy in Bangladesh is moderate, and it has a positive impact on inclusive finance. These findings warrant more emphasis on increasing financial literacy for access to finance and informed investment decisions.
Citation
Khalily, M. A. Baqui. 2016. Financial Inclusion, Financial Regulation, and Education in Bangladesh. © Asian Development Bank Institute. http://hdl.handle.net/11540/6859.Keywords
ADB
Project finance
Development plans
Strategic planning
Business Financing
Investment Requirements
Insurance Companies
International Monetary Relations
International Financial Market
Exchange Rate
Development
Finance
Development Challenges
Development Issues
Development Problems
Microenterprises Finance
Commercial Finance Companies
Enterprise Financing
Financial Analysis
Banking Finance And Investment
Insurers
Insurance stocks
Insurance holding companies
Insurance carriers
Insurance agencies
Business subsidies
Investment companies
International banks and banking
Stock exchanges
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