Impact of Financial Literacy in optimising Financial Inclusion

92% of Malaysia’s adult population had active deposit accounts as at end of 2015 allowing them to save, transact and access cash using electronic channels available nation wide.  This is in proportion to Financial literacy levels in the country.  In addition, more than 70% of Malaysia’s adults in the labor force are account holders of […]

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Cultural Artefacts barring Financial Inclusion

In any society, there’s shared history that evolves into a culture.  A community’s culture can propel or hinder financial inclusion depending on the beliefs that locals hold on to and their willingness to learn or change the narrative.The power of culture comes about through the fact that the assumptions are shared and, mutually reinforced.  One […]

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Financial Literacy: Leveraging on Social Habits

Estimates indicate that 2.3 billion working age adults do not have an account at a formal financial institution.  One of the main barriers to financial inclusion for this group is financial illiteracy and low trust levels due to lack of information on the financial products.  According to the World Bank, financial access facilitates day-to-day living, […]

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