Financial Inclusion Meaning

There are many ways today to access financial services whether they are offered by banks or other financial institutions that operate and have some similar transactions and services like banks. Even if there are ways but there are still parts or a market that is not opened to the general public especially to the low-income level classification of a household. There are many financial transactions and many people use the private services of individuals like credit to fulfill their needs and not through the banks.

It is because of some reasons that they prefer to do the transaction with private individuals than the formal banking institutions. The effort of financial inclusion has been supported by many countries and also the Bank of the Republic Of Burundi. The bank is a member of the Alliance for the Financial Inclusion. The members of this alliance are mostly central banks of each country around the world and also the other institutions who do financial transactions who support the mission and goal of financial inclusion.

This effort of financial inclusion aims to provide help to those who are in need so that they can improve their way of living. Many people are considered unbank as they do not have any account in any banks. It is a theory that if they have accessed to such opportunity then can also avail of other financial services that could help them like credit services. If they have already an account then they can also consider other financial services for their benefit.