• Enhancing Financial Capability and Inclusion in Senegal - a Demand-side Survey


    Despite some progress made toward financial inclusion priorities in Senegal in the past few years, over 80% of Senegalese adults remain unbanked. This study shows that a lack of financial capability, especially among women, is a key challenge and suggests concrete actions to close the identified gaps. Also available in French.

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  • Enhancing Financial Capability and Inclusion in Azerbaijan - a Demand-side Assessment


    The falling oil prices, weaker macroeconomics fundamentals, and trade imbalances have devalued the national currency in Azerbaijan and eroded public trust in its financial sector. Restoring financial stability, renewing public and investor confidence, and mobilizing higher savings in order to finance growth became the top priorities for Azerbaijan policy makes. To support Azerbaijan, the World Bank Group conducted this in-depth assessment of financial capability in Azerbaijan that will help implement the national financial literacy strategy and improve the future financial capability enhancing programs.

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  • Financial Inclusion and Financial Capability in Morobe and Madang Provinces, Papua New Guinea


    Bank of Papua New Guinea (BPNG), with the technical assistance from the World Bank, conducted the first population level study on Financial Inclusion and Financial Capability in PNG to examine how women and men make financial decisions on behalf of their households. The initial findings from Morobe and Madang provinces call for improving financial service infrastructure in rural areas of PNG and developing targeted financial education programs for women.

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  • Enhancing Financial Capability and Inclusion in the Philippines - a Demand-side Assessment


    In response to a request from Bangko Sentral ng Pilipinas (BSP), the World Bank has conducted financial capability survey in Philippines. The key findings and recommendations presented in this report cover 4 main areas: 1. Financial Inclusion, 2. Financial Capability, 3. Relationship between Financial Inclusion and Capability, and 4. Financial Consumer Protection. View summary (PDF) »

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  • Household Financial Decision Making - WDR 2015


    Chapter Six of the new World Development Report 2015 dicusses factors of human behavior in the context of household finance. Financial decisions are difficult and have profound effects on our lives, especially for poor people who often lack a margin of error. Recent research revealed systematic biases in humans, and markets work to either help us overcome or exacerbate them. This chapter explores ways to address behavioral constraints in family or household financial planning and design policy interventions that help consumers make better financial decisions.

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  • Enhancing Financial Capability and Inclusion in Morocco - a Demand-Side Assessment


    In response to a request from Morocco's Central Bank, Bank Al-Maghrib (BAM), the World Bank has conducted the first nationally representative financial capability and inclusion survey in Morocco and the Middle East and North Africa region. The key findings and recommendations presented in this report cover 4 main areas: 1. Financial Inclusion, 2. Financial Capability, 3. Relationship between Financial Inclusion and Capability, and 4. Financial Consumer Protection.

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  • Enhancing Financial Capability and Inclusion in Mozambique - a Demand-Side Assessment


    In response to a request of the Banco de Mocambique (BdM), the World Bank has conducted a financial capability survey. It was a priority follow up to the Mozambique Financial Sector Strategy (MFSDS) 2013-2022. The key findings and recommendations presented in this report cover 4 main areas: 1. Financial Inclusion, 2. Financial Capability, 3. Relationship between Financial Inclusion and Capability, and 4. Financial Consumer Protection. Also available in Portuguese.

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  • Enhancing Financial Capability and Behavior in Low- and Middle-Income Countries


    The final output of the Russia Trust Fund on Financial Literacy and Education, this volume presents the results of the Trust Fund’s pilot projects - some truly pioneering research in financial capacity building, including methods to increase financial awareness and encourage safer financial behavior. Such tools and methods enable access to financial literacy for a much wider population, with potentially greater impact than what has been achieved using the more conventional means.

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  • Financial Education Programs and Strategies


    The purpose of this brief is to provide practical guidance to countries in their effort to develop effective financial education programs and strategies. Recent evaluations of a number of financial education programs reported widely ranging outcomes - while some found evidence of effectiveness, others reported mixed or no evidence. The quality of design of such programs is therefore crucial. This brief outlines essential operational steps aimed at maximizing the benefits of financial education initiatives. Annexes feature conclusions of recently completed impact evaluation studies.

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  • Advancing National Strategies for Financial Education


    This publication monitors progress by the governments of the world’s major economies in implementing national strategies for improving financial education. It includes contributions by twenty one G20 member economies, invited countries and the European Union. It highlights the main features of country experiences and in particular the rationale for the development of national strategies, their status in the countries covered in the publication, their main objectives and their founding elements. It also points to the different governing structures established to design and implement national strategies, the role of stakeholders, and their main implementing directions and challenges.

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  • Why Financial Capability is important and how surveys can help


    Financial capability is increasingly becoming a priority for policy makers as it is recognized to contribute to the financial stability, financial inclusion, and to the effective functioning of financial markets. This note outlines and compares key approaches to measuring financial capability and the external factors that may affect it, offering policy makers a broad range of options to consider when developing their research and policy objectives.

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  • Making Sense of Financial Capability Surveys around the World


    This review identifies, compares, and contrasts existing measurement approaches in the area of financial literacy and capability, and in the related areas of financial inclusion and financial consumer protection. The review is intended to be a reference tool for policy makers, practitioners, and researchers interested in conducting a survey on these topics.

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  • Financial Capability in Low- and Middle-income Countries: Measurement and Evaluation


    This report provides an overview of the work program implemented by the World Bank and funded by the Russia Financial Literacy and Education Trust Fund (RTF). It highlights the significant contributions of this work program to the conceptual development and measurement of financial capability and the evaluation of the results.

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  • OECD/INFE Products under the Russia Financial Literacy and Education Trust Fund: an Overview


    OECD/INFE has been a major contributor to the activites of the RTF work program on financial capability and education, drawing on a decade of experience. This overview outlines the systemic approach undertaken by OECD/INFE and the partners to study and disseminate successful policies and practices in financial education from around the world, and develop criteria, principles, guidelines, and tools for effective strategies. A 3-part series on principles and guidelines is available in the Policies & Practices section.

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  • OECD/INFE Set of Criteria, Principles, Guidelines and Policy Guidance to Improve Financial Education - Part 1: The Framework


    This high-level framework for national strategies in financial education offer global guidance to develop appropriate and coordinated financial education policies at a national level. It details the critical stages and key factors in crafting effective strategies. Its principles were endorsed by G20 Leaders in June 2012 and supported by APEC Finance Ministers in August 2012.

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