El Salvador Financial Sector Assessment Program Update : Financial Inclusion
Financial service provision has expanded since the 2004 financial sector assessment program (FSAP) update, but access to financial services can expand greatly through mobile banking. An estimated 47 percent of adults in El Salvador have deposit acc...
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Washington, DC
2017
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Online Access: | http://documents.worldbank.org/curated/en/419051468233694849/El-Salvador-Financial-inclusion-technical-note http://hdl.handle.net/10986/27768 |
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Digital Repository |
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ACCESS POINTS ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESS TO FINANCING ACCOUNTING ANTI-MONEY LAUNDERING APPROVAL PROCESS ARBITRAGE ARBITRATION ATM ATMS AUDITING AUTOMATIC TELLER BANK CREDIT BANK FINANCE COMPANIES BANK FINANCING BANKING SYSTEM BIASES BORROWER CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKETS CAPITAL REQUIREMENT CENTRAL BANK COLLATERAL COLLATERAL REQUIREMENTS COLLATERALIZATION COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL CREDIT COMMERCIAL TRANSACTION CONSULTATION PROCESS CONSUMER CREDIT CONSUMER CREDITS CONSUMER LENDING CONSUMER LOAN CONSUMER LOANS CONSUMER MARKET CONSUMER PROTECTION CONSUMER PROTECTION LAW CONSUMER PROTECTION LAWS CONSUMERS CONTRACT ENFORCEMENT COOPERATIVE BANKS COOPERATIVES CREDIT BUREAU CREDIT BUREAUS CREDIT CARD CREDIT CARD USE CREDIT CARDS CREDIT CONSTRAINTS CREDIT COOPERATIVES CREDIT DECISIONS CREDIT GROWTH CREDIT HISTORIES CREDIT INFORMATION CREDIT INFORMATION SYSTEMS CREDIT NEEDS CREDIT PRODUCTS CREDIT PROVISION CREDIT REGISTRY CREDIT RISK CREDIT WORTHINESS CREDITS DEBT DEBT REPAYMENT DEBTS DELINQUENCY DEPOSIT DEPOSIT ACCOUNT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSIT SERVICES DEPOSITORS DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT BANKS DISPUTE RESOLUTION DOCUMENTATION REQUIREMENTS ECONOMIC ANALYSIS EDUCATIONAL ACTIVITIES EMPLOYEE ENTERPRISE CREDIT ENTERPRISE CREDITS EQUIPMENT EQUITY CONTRIBUTIONS EXCHANGE RATES FACTORING FAMILY MEMBERS FAVORABLE TERMS FINANCE COMPANIES FINANCIAL ACCESS FINANCIAL AUTHORITIES FINANCIAL CONGLOMERATES FINANCIAL COSTS FINANCIAL CRISIS FINANCIAL EDUCATION FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL LITERACY FINANCIAL SECTOR FINANCIAL SECTOR ASSESSMENT FINANCIAL SERVICE FINANCIAL SERVICES PROVIDERS FINANCIAL STATEMENTS FINANCIAL SYSTEM FINANCIAL TRANSACTIONS FINANCING COST FINANCING COSTS GENERAL PUBLIC GOVERNMENT LENDING GOVERNMENT SUPPORT GROSS DOMESTIC PRODUCT GROUP LOANS HOUSEHOLDS HOUSING HOUSING FINANCE INCOME TAX INFORMATION TECHNOLOGY INSTRUMENT INTEREST INCOME INTEREST MARGIN INTEREST RATE INTEREST RATES INTERNAL FINANCING INTERNATIONAL BANK INTERNATIONAL BANKS INVENTORY JURISDICTION LARGE FIRMS LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LENDER LENDER OF LAST RESORT LENDERS LENDING INSTITUTIONS LOAN LOAN ACCOUNTS LOAN AMOUNT LOAN BALANCE LOAN CATEGORIES LOAN COOPERATIVES LOAN MARKET LOAN PORTFOLIO LOAN SIZE LOAN SIZES LOANS TO INDIVIDUALS LOW-INCOME LOW-INCOME BORROWERS LOW-INCOME CONSUMER MARKET DATA MARKET PARTICIPANTS MATURITY MEDIUM ENTERPRISES MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROFINANCE LOANS MICROFINANCE SECTOR MONETARY FUND MORTGAGE MORTGAGE CREDIT MORTGAGE FINANCE MORTGAGE LOANS MOVABLE ASSETS MUNICIPALITIES NATIONAL CREDIT NET INTEREST MARGIN NON-PERFORMING LOAN NON-PERFORMING LOANS NONBANK INSTITUTIONS NPL OUTREACH OVERHEAD COSTS PAYMENTS SYSTEMS PENALTIES POINT OF SALE POINT-OF-SALE PORTFOLIOS PROFIT MARGIN PRUDENTIAL REGULATION PUBLIC BANKS PURCHASING POWER PURCHASING POWER PARITY RANGE OF CREDIT PRODUCTS REMITTANCE REMITTANCE SERVICE RETURN SALARY SALES SAVINGS SAVINGS DEPOSIT SAVINGS PRODUCTS SHARE OF CREDIT SMALL BUSINESSES SMALL ENTERPRISES SMALL LOANS SMALLER ENTERPRISE SMALLER ENTERPRISES SMALLER FIRMS STATE BANKS SUPERVISORY AUTHORITY SUPERVISORY POWERS TAX ADVANTAGES TAX CODE TAX COMPLIANCE TAX LAWS TAX PROVISIONS TECHNICAL ASSISTANCE TERM DEPOSITS TRANSPARENCY UNION UNREGULATED FINANCIAL INSTITUTIONS UNSECURED LOANS USE OF COLLATERAL VALUABLE VALUE OF COLLATERAL WORKING CAPITAL |
spellingShingle |
ACCESS POINTS ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESS TO FINANCING ACCOUNTING ANTI-MONEY LAUNDERING APPROVAL PROCESS ARBITRAGE ARBITRATION ATM ATMS AUDITING AUTOMATIC TELLER BANK CREDIT BANK FINANCE COMPANIES BANK FINANCING BANKING SYSTEM BIASES BORROWER CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKETS CAPITAL REQUIREMENT CENTRAL BANK COLLATERAL COLLATERAL REQUIREMENTS COLLATERALIZATION COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL CREDIT COMMERCIAL TRANSACTION CONSULTATION PROCESS CONSUMER CREDIT CONSUMER CREDITS CONSUMER LENDING CONSUMER LOAN CONSUMER LOANS CONSUMER MARKET CONSUMER PROTECTION CONSUMER PROTECTION LAW CONSUMER PROTECTION LAWS CONSUMERS CONTRACT ENFORCEMENT COOPERATIVE BANKS COOPERATIVES CREDIT BUREAU CREDIT BUREAUS CREDIT CARD CREDIT CARD USE CREDIT CARDS CREDIT CONSTRAINTS CREDIT COOPERATIVES CREDIT DECISIONS CREDIT GROWTH CREDIT HISTORIES CREDIT INFORMATION CREDIT INFORMATION SYSTEMS CREDIT NEEDS CREDIT PRODUCTS CREDIT PROVISION CREDIT REGISTRY CREDIT RISK CREDIT WORTHINESS CREDITS DEBT DEBT REPAYMENT DEBTS DELINQUENCY DEPOSIT DEPOSIT ACCOUNT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSIT SERVICES DEPOSITORS DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT BANKS DISPUTE RESOLUTION DOCUMENTATION REQUIREMENTS ECONOMIC ANALYSIS EDUCATIONAL ACTIVITIES EMPLOYEE ENTERPRISE CREDIT ENTERPRISE CREDITS EQUIPMENT EQUITY CONTRIBUTIONS EXCHANGE RATES FACTORING FAMILY MEMBERS FAVORABLE TERMS FINANCE COMPANIES FINANCIAL ACCESS FINANCIAL AUTHORITIES FINANCIAL CONGLOMERATES FINANCIAL COSTS FINANCIAL CRISIS FINANCIAL EDUCATION FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL LITERACY FINANCIAL SECTOR FINANCIAL SECTOR ASSESSMENT FINANCIAL SERVICE FINANCIAL SERVICES PROVIDERS FINANCIAL STATEMENTS FINANCIAL SYSTEM FINANCIAL TRANSACTIONS FINANCING COST FINANCING COSTS GENERAL PUBLIC GOVERNMENT LENDING GOVERNMENT SUPPORT GROSS DOMESTIC PRODUCT GROUP LOANS HOUSEHOLDS HOUSING HOUSING FINANCE INCOME TAX INFORMATION TECHNOLOGY INSTRUMENT INTEREST INCOME INTEREST MARGIN INTEREST RATE INTEREST RATES INTERNAL FINANCING INTERNATIONAL BANK INTERNATIONAL BANKS INVENTORY JURISDICTION LARGE FIRMS LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LENDER LENDER OF LAST RESORT LENDERS LENDING INSTITUTIONS LOAN LOAN ACCOUNTS LOAN AMOUNT LOAN BALANCE LOAN CATEGORIES LOAN COOPERATIVES LOAN MARKET LOAN PORTFOLIO LOAN SIZE LOAN SIZES LOANS TO INDIVIDUALS LOW-INCOME LOW-INCOME BORROWERS LOW-INCOME CONSUMER MARKET DATA MARKET PARTICIPANTS MATURITY MEDIUM ENTERPRISES MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROFINANCE LOANS MICROFINANCE SECTOR MONETARY FUND MORTGAGE MORTGAGE CREDIT MORTGAGE FINANCE MORTGAGE LOANS MOVABLE ASSETS MUNICIPALITIES NATIONAL CREDIT NET INTEREST MARGIN NON-PERFORMING LOAN NON-PERFORMING LOANS NONBANK INSTITUTIONS NPL OUTREACH OVERHEAD COSTS PAYMENTS SYSTEMS PENALTIES POINT OF SALE POINT-OF-SALE PORTFOLIOS PROFIT MARGIN PRUDENTIAL REGULATION PUBLIC BANKS PURCHASING POWER PURCHASING POWER PARITY RANGE OF CREDIT PRODUCTS REMITTANCE REMITTANCE SERVICE RETURN SALARY SALES SAVINGS SAVINGS DEPOSIT SAVINGS PRODUCTS SHARE OF CREDIT SMALL BUSINESSES SMALL ENTERPRISES SMALL LOANS SMALLER ENTERPRISE SMALLER ENTERPRISES SMALLER FIRMS STATE BANKS SUPERVISORY AUTHORITY SUPERVISORY POWERS TAX ADVANTAGES TAX CODE TAX COMPLIANCE TAX LAWS TAX PROVISIONS TECHNICAL ASSISTANCE TERM DEPOSITS TRANSPARENCY UNION UNREGULATED FINANCIAL INSTITUTIONS UNSECURED LOANS USE OF COLLATERAL VALUABLE VALUE OF COLLATERAL WORKING CAPITAL World Bank International Monetary Fund El Salvador Financial Sector Assessment Program Update : Financial Inclusion |
geographic_facet |
Latin America & Caribbean El Salvador |
description |
Financial service provision has expanded
since the 2004 financial sector assessment program (FSAP)
update, but access to financial services can expand greatly
through mobile banking. An estimated 47 percent of adults in
El Salvador have deposit accounts at a regulated financial
institution, similar to the Latin American average. Although
a range of range of bank and non-bank institutions serve the
micro and Small and Medium Enterprises (SME) finance market,
significant financial services provision is occurring
outside of the regulatory perimeter. Improvements in credit
information systems, simplification of credit documentation
processes, and a strengthened legal framework for factoring
can help facilitate SMEs access to credit. Issues of
financial transparency and consumer protection are of
increasing importance to the Salvadoran authorities,
although resources for enforcement are limited. Both public
and private entities are engaging in educational activities
to promote financial literacy have the potential to play an
important role in curbing over indebtedness. However, the
consumer defense agency (Defensoria al Consumidor) lacks
sufficient resources for enforcement of consumer protection
laws. This paper is divided into following six parts: first
part gives overview of financial access and usage patterns;
the second part gives information on funding and savings
products commercialized; the third part gives market
participants; fourth part is legal and regulatory
impediments to credit; fifth part deals with supervisory and
regulatory perimeter issues; and sixth part is transparency,
consumer protection, and financial literacy. |
format |
Report |
author |
World Bank International Monetary Fund |
author_facet |
World Bank International Monetary Fund |
author_sort |
World Bank |
title |
El Salvador Financial Sector Assessment Program Update : Financial Inclusion |
title_short |
El Salvador Financial Sector Assessment Program Update : Financial Inclusion |
title_full |
El Salvador Financial Sector Assessment Program Update : Financial Inclusion |
title_fullStr |
El Salvador Financial Sector Assessment Program Update : Financial Inclusion |
title_full_unstemmed |
El Salvador Financial Sector Assessment Program Update : Financial Inclusion |
title_sort |
el salvador financial sector assessment program update : financial inclusion |
publisher |
Washington, DC |
publishDate |
2017 |
url |
http://documents.worldbank.org/curated/en/419051468233694849/El-Salvador-Financial-inclusion-technical-note http://hdl.handle.net/10986/27768 |
_version_ |
1764464530695389184 |
spelling |
okr-10986-277682021-04-23T14:04:42Z El Salvador Financial Sector Assessment Program Update : Financial Inclusion World Bank International Monetary Fund ACCESS POINTS ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESS TO FINANCING ACCOUNTING ANTI-MONEY LAUNDERING APPROVAL PROCESS ARBITRAGE ARBITRATION ATM ATMS AUDITING AUTOMATIC TELLER BANK CREDIT BANK FINANCE COMPANIES BANK FINANCING BANKING SYSTEM BIASES BORROWER CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKETS CAPITAL REQUIREMENT CENTRAL BANK COLLATERAL COLLATERAL REQUIREMENTS COLLATERALIZATION COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL CREDIT COMMERCIAL TRANSACTION CONSULTATION PROCESS CONSUMER CREDIT CONSUMER CREDITS CONSUMER LENDING CONSUMER LOAN CONSUMER LOANS CONSUMER MARKET CONSUMER PROTECTION CONSUMER PROTECTION LAW CONSUMER PROTECTION LAWS CONSUMERS CONTRACT ENFORCEMENT COOPERATIVE BANKS COOPERATIVES CREDIT BUREAU CREDIT BUREAUS CREDIT CARD CREDIT CARD USE CREDIT CARDS CREDIT CONSTRAINTS CREDIT COOPERATIVES CREDIT DECISIONS CREDIT GROWTH CREDIT HISTORIES CREDIT INFORMATION CREDIT INFORMATION SYSTEMS CREDIT NEEDS CREDIT PRODUCTS CREDIT PROVISION CREDIT REGISTRY CREDIT RISK CREDIT WORTHINESS CREDITS DEBT DEBT REPAYMENT DEBTS DELINQUENCY DEPOSIT DEPOSIT ACCOUNT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSIT SERVICES DEPOSITORS DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT BANKS DISPUTE RESOLUTION DOCUMENTATION REQUIREMENTS ECONOMIC ANALYSIS EDUCATIONAL ACTIVITIES EMPLOYEE ENTERPRISE CREDIT ENTERPRISE CREDITS EQUIPMENT EQUITY CONTRIBUTIONS EXCHANGE RATES FACTORING FAMILY MEMBERS FAVORABLE TERMS FINANCE COMPANIES FINANCIAL ACCESS FINANCIAL AUTHORITIES FINANCIAL CONGLOMERATES FINANCIAL COSTS FINANCIAL CRISIS FINANCIAL EDUCATION FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL LITERACY FINANCIAL SECTOR FINANCIAL SECTOR ASSESSMENT FINANCIAL SERVICE FINANCIAL SERVICES PROVIDERS FINANCIAL STATEMENTS FINANCIAL SYSTEM FINANCIAL TRANSACTIONS FINANCING COST FINANCING COSTS GENERAL PUBLIC GOVERNMENT LENDING GOVERNMENT SUPPORT GROSS DOMESTIC PRODUCT GROUP LOANS HOUSEHOLDS HOUSING HOUSING FINANCE INCOME TAX INFORMATION TECHNOLOGY INSTRUMENT INTEREST INCOME INTEREST MARGIN INTEREST RATE INTEREST RATES INTERNAL FINANCING INTERNATIONAL BANK INTERNATIONAL BANKS INVENTORY JURISDICTION LARGE FIRMS LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LENDER LENDER OF LAST RESORT LENDERS LENDING INSTITUTIONS LOAN LOAN ACCOUNTS LOAN AMOUNT LOAN BALANCE LOAN CATEGORIES LOAN COOPERATIVES LOAN MARKET LOAN PORTFOLIO LOAN SIZE LOAN SIZES LOANS TO INDIVIDUALS LOW-INCOME LOW-INCOME BORROWERS LOW-INCOME CONSUMER MARKET DATA MARKET PARTICIPANTS MATURITY MEDIUM ENTERPRISES MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROFINANCE LOANS MICROFINANCE SECTOR MONETARY FUND MORTGAGE MORTGAGE CREDIT MORTGAGE FINANCE MORTGAGE LOANS MOVABLE ASSETS MUNICIPALITIES NATIONAL CREDIT NET INTEREST MARGIN NON-PERFORMING LOAN NON-PERFORMING LOANS NONBANK INSTITUTIONS NPL OUTREACH OVERHEAD COSTS PAYMENTS SYSTEMS PENALTIES POINT OF SALE POINT-OF-SALE PORTFOLIOS PROFIT MARGIN PRUDENTIAL REGULATION PUBLIC BANKS PURCHASING POWER PURCHASING POWER PARITY RANGE OF CREDIT PRODUCTS REMITTANCE REMITTANCE SERVICE RETURN SALARY SALES SAVINGS SAVINGS DEPOSIT SAVINGS PRODUCTS SHARE OF CREDIT SMALL BUSINESSES SMALL ENTERPRISES SMALL LOANS SMALLER ENTERPRISE SMALLER ENTERPRISES SMALLER FIRMS STATE BANKS SUPERVISORY AUTHORITY SUPERVISORY POWERS TAX ADVANTAGES TAX CODE TAX COMPLIANCE TAX LAWS TAX PROVISIONS TECHNICAL ASSISTANCE TERM DEPOSITS TRANSPARENCY UNION UNREGULATED FINANCIAL INSTITUTIONS UNSECURED LOANS USE OF COLLATERAL VALUABLE VALUE OF COLLATERAL WORKING CAPITAL Financial service provision has expanded since the 2004 financial sector assessment program (FSAP) update, but access to financial services can expand greatly through mobile banking. An estimated 47 percent of adults in El Salvador have deposit accounts at a regulated financial institution, similar to the Latin American average. Although a range of range of bank and non-bank institutions serve the micro and Small and Medium Enterprises (SME) finance market, significant financial services provision is occurring outside of the regulatory perimeter. Improvements in credit information systems, simplification of credit documentation processes, and a strengthened legal framework for factoring can help facilitate SMEs access to credit. Issues of financial transparency and consumer protection are of increasing importance to the Salvadoran authorities, although resources for enforcement are limited. Both public and private entities are engaging in educational activities to promote financial literacy have the potential to play an important role in curbing over indebtedness. However, the consumer defense agency (Defensoria al Consumidor) lacks sufficient resources for enforcement of consumer protection laws. This paper is divided into following six parts: first part gives overview of financial access and usage patterns; the second part gives information on funding and savings products commercialized; the third part gives market participants; fourth part is legal and regulatory impediments to credit; fifth part deals with supervisory and regulatory perimeter issues; and sixth part is transparency, consumer protection, and financial literacy. 2017-08-14T19:50:49Z 2017-08-14T19:50:49Z 2010-11 Report http://documents.worldbank.org/curated/en/419051468233694849/El-Salvador-Financial-inclusion-technical-note http://hdl.handle.net/10986/27768 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Economic & Sector Work :: Financial Sector Assessment Program Economic & Sector Work Latin America & Caribbean El Salvador |