Greater access to financial services promotes social stability, stimulates economic growth and employment, and stabilises the financial system. Yet, only a very limited number of people and businesses in the Middle East and North Africa have access to adequate formal financial services. Microfinance is a means to advance financial inclusion. Strategic public and private efforts, progressive policies, laws and regulations, and an efficient financial infrastructure are needed to ensure the sector’s stability and outreach to the unbanked. This programme aims to improve the framework conditions for financial inclusion of the low-income population to promote sustainable and inclusive growth.
1% – Of people have/use mobile account
9% — Of adults have a debit card
18% — Of people aged 25+ have account, compared to 9% of people aged 15-24
7% — Of the poorest 40% have a bank account
9% — Of women are financially included, compared to 19% of men
The Egyptian Financial Supervisory Authority has licensed over 500 microfinance institutions. A national financial literacy strategy is being developed. Private and public players jointly promote micr...
Based on the 2015 Microfinance bylaw the Central Bank is preparing to supervise MFIs. Public, private players are developing the financial inclusion strategy. The Development and Employment Fund incre...
The Palestine Monetary Authority has issued licenses for microfinance institutions, set up a unit and infrastructure to supervise the sector, and is leading the finalization of the financial inclusion...