Financial Exclusion in

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Italy. . Firtuna G. Adugna. Trang Do. Francesco Sansoni. SUMMARY. . Introduction. Level and structure of financial exclusion. Causes and consequences of financial exclusion. ID: 476854 Download Presentation

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Financial Exclusion in




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Presentations text content in Financial Exclusion in

Slide1

Financial Exclusion inItaly

Firtuna G. AdugnaTrang Do Francesco Sansoni

Slide2

SUMMARY

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

Slide3

DEFINITION

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)

Slide4

Levels 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.

Slide5

Levels 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

Slide6

Levels of financial exclusion

Levels of transaction banking exclusion: Source: Eurobarometer 60.2

Slide7

Levels 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

Slide8

Structure 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

Slide9

Structure 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

Slide10

Structure 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

Slide11

Structure 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

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2. 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.

Slide13

Causes 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)

Slide14

Causes 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.

Slide16

4. 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

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5. 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.

Slide18

6.

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.

Slide19

Conclusions

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!

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