Financial Inclusion in Malaysia : Distilling Lessons for Other Countries

Malaysia has achieved one of the highest levels of financial inclusion among Southeast Asia countries, due in part to policies taking advantage of mobile phones and banking agents to expand access. The report looks at specific actions, programs, an...

Full description

Bibliographic Details
Main Author:	World Bank Group
Format:	Working Paper
Language:	English en_US
Published:	Washington, DC 2017
Subjects:	FINANCIAL INCLUSION AGENT BANKING REMITTANCES MOBILE PHONES
Online Access:	http://documents.worldbank.org/curated/en/703901495196244578/Financial-inclusion-in-Malaysia-distilling-lessons-for-other-countries http://hdl.handle.net/10986/27543

id	okr-10986-27543
recordtype	oai_dc
spelling	okr-10986-275432021-05-25T09:01:09Z Financial Inclusion in Malaysia : Distilling Lessons for Other Countries World Bank Group FINANCIAL INCLUSION AGENT BANKING REMITTANCES MOBILE PHONES Malaysia has achieved one of the highest levels of financial inclusion among Southeast Asia countries, due in part to policies taking advantage of mobile phones and banking agents to expand access. The report looks at specific actions, programs, and strategies that have contributed to enhance financial inclusion in the country and highlights key learnings to benefit low- and middle-income countries with similar ambitions. The report also notes that there is no single factor that can explain Malaysia's success in financial inclusion. The progress that Malaysia has achieved is the result of efforts undertaken by authorities and the financial sector industry over the past 20 years. The country has been able to achieve sustainable growth of its financial system over a long period of time, reconciling two policy objectives, namely "financial stability" and "financial inclusion", in a successful manner so far. Malaysia faces two main challenges in terms of financial inclusion. First Malaysia will need to reach out to the remaining under-served population. Secondly, a major challenge is how to ensure that the people with access to financial services actually make active use of their accounts. 2017-07-10T22:29:37Z 2017-07-10T22:29:37Z 2017-05 Working Paper http://documents.worldbank.org/curated/en/703901495196244578/Financial-inclusion-in-Malaysia-distilling-lessons-for-other-countries http://hdl.handle.net/10986/27543 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Publications & Research Publications & Research :: Working Paper East Asia and Pacific Malaysia
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 INCLUSION AGENT BANKING REMITTANCES MOBILE PHONES
spellingShingle	FINANCIAL INCLUSION AGENT BANKING REMITTANCES MOBILE PHONES World Bank Group Financial Inclusion in Malaysia : Distilling Lessons for Other Countries
geographic_facet	East Asia and Pacific Malaysia
description	Malaysia has achieved one of the highest levels of financial inclusion among Southeast Asia countries, due in part to policies taking advantage of mobile phones and banking agents to expand access. The report looks at specific actions, programs, and strategies that have contributed to enhance financial inclusion in the country and highlights key learnings to benefit low- and middle-income countries with similar ambitions. The report also notes that there is no single factor that can explain Malaysia's success in financial inclusion. The progress that Malaysia has achieved is the result of efforts undertaken by authorities and the financial sector industry over the past 20 years. The country has been able to achieve sustainable growth of its financial system over a long period of time, reconciling two policy objectives, namely "financial stability" and "financial inclusion", in a successful manner so far. Malaysia faces two main challenges in terms of financial inclusion. First Malaysia will need to reach out to the remaining under-served population. Secondly, a major challenge is how to ensure that the people with access to financial services actually make active use of their accounts.
format	Working Paper
author	World Bank Group
author_facet	World Bank Group
author_sort	World Bank Group
title	Financial Inclusion in Malaysia : Distilling Lessons for Other Countries
title_short	Financial Inclusion in Malaysia : Distilling Lessons for Other Countries
title_full	Financial Inclusion in Malaysia : Distilling Lessons for Other Countries
title_fullStr	Financial Inclusion in Malaysia : Distilling Lessons for Other Countries
title_full_unstemmed	Financial Inclusion in Malaysia : Distilling Lessons for Other Countries
title_sort	financial inclusion in malaysia : distilling lessons for other countries
publisher	Washington, DC
publishDate	2017
url	http://documents.worldbank.org/curated/en/703901495196244578/Financial-inclusion-in-Malaysia-distilling-lessons-for-other-countries http://hdl.handle.net/10986/27543
_version_	1764464647860125696

Financial Inclusion in Malaysia : Distilling Lessons for Other Countries

Similar Items