New Financial Reforms to Help Increase Investment and Reduce Poverty

Iraqi Dinar 123 News:– The attachment of a large number of cooperation in banking services would decrease the poverty ratio and improve the level of economic growth in all the service and productive sectors among the advancement of financial institutions. A member of the Arab Bankers World Union, D. Shammari issued a warning about the magnitude of financial insertion in the life of different communities. It would enable people to work and transform their capacity into constructive form in a number of disciplines and participate in the advancement of society. It would also encourage in financial savings and to improve employment rate which will decrease the rate of poverty significantly.

Shammari further added that our main objective is to focus on the financial insertion and we raised this objective in the Arab Banking Conference 2015. This concept has been moving for considerable progress in the development of the opportunity of this perception. A large number of people have account in various financial institutions and it is estimated at 700 million between the years 2011 to 2014. This amount was calculated at 51 percent in 2011, but it was increased in the year 2014 by 60 percent worldwide. The bank of Organization for Economic Cooperation and Development was recorded at 94 percent of adults in 2014. It is important that at least 38 percent of the people in the world are not gaining the formal financial services. He added that financial insertion performs a major role in the advancement of the communities and decline the ratio of poverty.

Share This Post

Related Articles

· Designed by RF