According to The Global Findex Database 2017, there are about 1.7 billion unbanked adults worldwide. Those excluded from financial services are disproportionately young people and women. In addition, the SME financing gap is estimated to be $4.5 trillion.
Vast wealth and the promise of dramatic change make for cautious optimism concerning Saudi Arabia, the chief executive…
811 Views | the publication reaches you by | Saudi Arabia TodayThere remain challenges in the field of financial inclusion despite significant progress over the past decade, according to a press statement about the meeting.
The G20 GPFI is exploring how technological advancements can help bridge the gap in the number of young people and women with no access to banking services.
The G20 GPFI seminar was a one-day event that brought together speakers and attendees from G20 members and non-G20 countries, international organizations, nongovernmental organizations, multilateral development banks, standard-setting bodies, as well as regional and international regulators, and private sector stakeholders.
According to The Global Findex Database 2017, there are about 1.7 billion unbanked adults worldwide. Those excluded from financial services are disproportionately young people and women. In addition, the SME financing gap is estimated to be $4.5 trillion.
In his opening remarks the Saudi co-chair of the G20 GPFI, Haitham Al-Ghulaiga, said:
“The focus in 2020 will be to harness digital and innovative technologies to advance financial inclusion of youth, women and SMEs to unleash their full potential and contribution to economic growth in both advanced and emerging markets.”
Following the seminar, the Saudi G20 presidency presented its priorities and work program for the GPFI meeting, which focused on three areas: Advancing digital financial inclusion of youth, empowering women through digital financial inclusion, and promoting digital and innovative SME financing.
Saudi Arabia will host the G20 summit in November.
CENTRO Olaya, the sixth by Rotana Hotel in Saudi Arabia and the third in Riyadh, was inaugurated on…
858 Views | the publication reaches you by | Saudi Arabia Today
Do you have information you want to reach our readers?
You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.
Delivery service Uber Eats has expanded into two additional Saudi cities, launching in both Makkah and Madinah. In…
King
Saudi Arabian Foreign Minister Prince Faisal bin Farhan al-Saud expressed full support for the Greek Cypriot administration amid…
Government
Saudi Arabia has voiced its support for Cyprus’ territorial sovereignty amid growing tensions following the discovery of oil…
Government
Saudi Arabia becoming the first Arab nation to take over the G20 presidency is likely to deliver a…
Government
Saudi Arabia’s King Salman received on Sunday the Cypriot Foreign Minister Nikos Christodoulides. They discussed bilateral relations between…
Saudi Crown Prince Wife Princess Sara bint Mashoor, Why Not with him In the Foreign Tour’s. Prince Mohammed…
The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).
