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Financial Inclusion: An Overview of Its Various Dimensions and Its Assistance in Reducing Private Sector Insolvency

  • Christos V. Gortsos
  • Vasilis Panagiotidis
Chapter
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)

Abstract

The chapter discusses financial inclusion, which is defined as the process of ensuring affordable, prompt and adequate access to a wide range of financial products and services, as well as proliferation of their use in all parts of society with a special focus on vulnerable groups, through the implementation of existing and innovative approaches, such as financial literacy programmes. It presents, on an introductory base, the typical indicators for the measurement of financial inclusion, causes of financial exclusion, the value inherent in financial inclusion and more precisely the interaction with monetary policy and financial stability, the correlation between financial literacy and financial inclusion, the need for coordinated efforts to extend financial inclusion on both a national level and an international level and the use of technological means as a solution against financial exclusion and implementation of innovative financial literacy programmes.

Keywords

Financial inclusion Financial literacy Financial stability Access to financial products and services 

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Copyright information

© The Hellenic Bank Association 2017

Authors and Affiliations

  • Christos V. Gortsos
    • 1
  • Vasilis Panagiotidis
    • 1
  1. 1.The Hellenic Bank AssociationAthensGreece

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