Presentations text content in Financial Exclusion in
Slide1
Financial Exclusion inItaly
Firtuna G. AdugnaTrang Do Francesco Sansoni
Slide2SUMMARY
Introduction
Level and structure of financial exclusion
Causes and consequences of financial exclusion
Government role in preventing financial exclusion
Institutions and their actions
Other activities against financial exclusion
Characteristic and name of
PlaNet
Finance
Conclusion
Slide3DEFINITION
Financial Exclusion is a process whereby people encounter difficulties accessing and/or using financial services and products in the mainstream market that are appropriate to their needs and enable them to lead a normal social life in the society in which they belong. (EU)
Slide4Levels and structure of financial exclusion
There
are 3 levels of financial exclusion
:
L
evels
of financial
exclusion
L
evels
of transaction banking exclusion,
Levels
of credit exclusion.
Slide5Levels of financial exclusion
Levels of Financial Exclusion in individual EU 25 countries.Source: Eurobarometer 60.2 and 2003.5 Base: All adults aged 18 or over
Slide6Levels of financial exclusion
Levels of transaction banking exclusion: Source: Eurobarometer 60.2
Slide7Levels of financial exclusion
Levels of credit exclusion A large proportion of people on low incomes did not have any revolving credit facilities (overdraft, credit card or loan)Source: Eurobarometer 60.2 and 2003.5
No
revolving
credit
Have a loan
No savings
Financially excluded
56
13
50
16
Slide8Structure of financial exclusion
Financial inclusion by place of livingPeople in urban areas were to be excluded more than ones in rural areas Source: Demirguc-Kunt and Klapper, 2012
Slide9Structure of financial exclusion
Financial inclusion by ageYoung people (aged 15-24) and adults aged 65 and over were most likely to be financially excluded. Source: Demirguc-Kunt and Klapper, 2012
Slide10Structure of financial exclusion
Financial inclusion by genderFemale were to be excluded more than male from allforms of financial services. Source: Demirguc-Kunt and Klapper, 2012
Slide11Structure of financial exclusion
Financial inclusion by educationThe less well-educated people the more likely they were to be excluded from all forms of financial services Source: Demirguc-Kunt and Klapper, 2012
Slide122. Causes and consequences
Causes
Societal factors:
Technological gap: The ageing population, the unemployed and immigrants have difficulty in staying up-to-date with all new ways of dealing with money.
Supply factors:
complexity of choice
because of too many products.
Unclear marketing and service delivery method.
Slide13Causes and consequences
Causes
In Italy, financially excluded people do not have a bank account or a post account.
High costs of banking services: Duties and taxes on banking services are a heavy burden for people on low incomes.
(
average costs of 150 euro/yr. plus 34,20 euro as taxes)
Slide14Causes and consequences
Consequences.
Financial & Social consequences
Banking: N
egative economic consequences of dealing occasionally with banks.
Credit:
Those who are “credit excluded” also face negative consequences.
Savings : No means of coping with small financial shocks
Slide15
3. Government role in preventing financial exclusion
The short term loan - The
FondoCentrale
di
Garanzia
The
“
Avvisocomune
” (
2009): An
agreement between the Ministry of Economy and Finances, the Italian bank association (ABI
)
and the association of the representatives of PMEs
In
2009 the “
Piano
famiglie
”
: A
postponement of family loans to 12 months for low-income families.
Slide164. Other activities against financial exclusion
Develop new products and services for people who are financially excluded.
Work in partnership with not-for-profit organizations to reduce costs and barriers to access.
Promote financial education to encourage the use of financial services
Slide175. Institutions and their actions
Banca Etica and other “ethical banks” :
Financing small business and help social development.
Banca di Credito Cooperativo (Roma) and other banks:
Helping imprisoned people & their families.
Interesse Uomo anti-usury foundation:
Fighting Usury.
A.S.C.A: Agenzia Sociale per la Casa:
Helping people to find a house.
Slide186.
Main Activities:Gives expert advice for micro finances promoting financial inclusion. Organizes conferences on the many aspects of microfinance.Works with immigrants, helping them in improving their social and economic condition.
Slide19Conclusions
Microfinance providers need to grow.
The linkage banking model should be further strengthened through joint programmes and reinforced cooperation between banks and NGOs.
EU better to constantly included The fight against financial exclusion in the National Strategic and in its framework.
Slide20
Grazie!
Slide21Slide22
Financial Exclusion in
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