Malawi Diagnostic Review of Consumer Protection and Financial Literacy : Volume 2. Comparison with Good Practices

Malawi Diagnostic Review of Consumer Protection and Financial Literacy : Volume 2. Comparison with Good Practices

According to FinScope surveys in 2008 and 2014, the number of financially included adult Malawians grew from 45 percent to 49 percent, and the proportion of adults using formal banking services expanded from 19 percent to 27 percent. These signific...

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Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
en_US
Published: World Bank, Washington, DC 2017
Subjects:
financial disclosure
financial literacy
financial consumer protection
banking
credit reporting
non-bank financial institutions
securities
insurance
legal framework
regulation
mobile banking
private pensions
Online Access:http://documents.worldbank.org/curated/en/399531483604167197/Comparison-with-good-practices
http://hdl.handle.net/10986/25892
id okr-10986-25892
recordtype oai_dc
spelling okr-10986-258922021-04-23T14:04:32Z Malawi Diagnostic Review of Consumer Protection and Financial Literacy : Volume 2. Comparison with Good Practices World Bank financial disclosure financial literacy financial consumer protection banking credit reporting non-bank financial institutions securities insurance legal framework regulation mobile banking private pensions According to FinScope surveys in 2008 and 2014, the number of financially included adult Malawians grew from 45 percent to 49 percent, and the proportion of adults using formal banking services expanded from 19 percent to 27 percent. These significant improvements were achieved based on Malawi’s Financial Sector Development Strategy for 2010-2015 that identified consumer protection and financial literacy as priorities in developing a financial sector that supports inclusive and sustainable growth. In 2012 the World Bank conducted a diagnostic review in Malawi that aimed to highlight the progress made, compare Malawi’s legal and institutional frameworks with international benchmarks, and provide a series of concrete recommendations. Although key initial steps have been taken in financial consumer protection, especially at the institutional level, Malawi is still at an early stage of development in this area, based on international good practices. Volume 1 of this report focuses on Key Findings and Recommendations from the review. Volume 2 presents a detailed assessment of each financial segment compared to the good practices. It also includes annexes that analyze and provides recommendations on credit reporting, mobile banking services and private pension funds, and a description of the overall legal and institutional frameworks for financial consumer protection in Malawi. 2017-01-23T19:56:46Z 2017-01-23T19:56:46Z 2012-05 Report http://documents.worldbank.org/curated/en/399531483604167197/Comparison-with-good-practices http://hdl.handle.net/10986/25892 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Other Financial Accountability Study Economic & Sector Work Africa Malawi
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic financial disclosure
financial literacy
financial consumer protection
banking
credit reporting
non-bank financial institutions
securities
insurance
legal framework
regulation
mobile banking
private pensions
spellingShingle financial disclosure
financial literacy
financial consumer protection
banking
credit reporting
non-bank financial institutions
securities
insurance
legal framework
regulation
mobile banking
private pensions
World Bank
Malawi Diagnostic Review of Consumer Protection and Financial Literacy : Volume 2. Comparison with Good Practices
geographic_facet Africa
Malawi
description According to FinScope surveys in 2008 and 2014, the number of financially included adult Malawians grew from 45 percent to 49 percent, and the proportion of adults using formal banking services expanded from 19 percent to 27 percent. These significant improvements were achieved based on Malawi’s Financial Sector Development Strategy for 2010-2015 that identified consumer protection and financial literacy as priorities in developing a financial sector that supports inclusive and sustainable growth. In 2012 the World Bank conducted a diagnostic review in Malawi that aimed to highlight the progress made, compare Malawi’s legal and institutional frameworks with international benchmarks, and provide a series of concrete recommendations. Although key initial steps have been taken in financial consumer protection, especially at the institutional level, Malawi is still at an early stage of development in this area, based on international good practices. Volume 1 of this report focuses on Key Findings and Recommendations from the review. Volume 2 presents a detailed assessment of each financial segment compared to the good practices. It also includes annexes that analyze and provides recommendations on credit reporting, mobile banking services and private pension funds, and a description of the overall legal and institutional frameworks for financial consumer protection in Malawi.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Malawi Diagnostic Review of Consumer Protection and Financial Literacy : Volume 2. Comparison with Good Practices
title_short Malawi Diagnostic Review of Consumer Protection and Financial Literacy : Volume 2. Comparison with Good Practices
title_full Malawi Diagnostic Review of Consumer Protection and Financial Literacy : Volume 2. Comparison with Good Practices
title_fullStr Malawi Diagnostic Review of Consumer Protection and Financial Literacy : Volume 2. Comparison with Good Practices
title_full_unstemmed Malawi Diagnostic Review of Consumer Protection and Financial Literacy : Volume 2. Comparison with Good Practices
title_sort malawi diagnostic review of consumer protection and financial literacy : volume 2. comparison with good practices
publisher World Bank, Washington, DC
publishDate 2017
url http://documents.worldbank.org/curated/en/399531483604167197/Comparison-with-good-practices
http://hdl.handle.net/10986/25892
_version_ 1764460349927456768

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