The Interrelationship Between Financial Inclusion, Financial Stability, Financial Integrity and Consumer Protection (I-SIP Theory)

2020 ◽  
Author(s):  
Abdullah Elsayed
Keyword(s):  
Consumer Protection ◽  
Financial Stability ◽  
Financial Inclusion

scholarly journals Financial Consumer Protection in the Household Lending Sector : An Assessment of the Korean Experience

2017 ◽  
Vol 2 (No. 2 Oct 2017) ◽  
pp. 15-34
Author(s):  
Man Cho ◽  
Seung Dong You ◽  
Young Man Lee
Keyword(s):  
Consumer Protection ◽  
Financial Stability ◽  
Credit Card ◽  
Service Providers ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Financial Inclusion ◽  
Future Research ◽  
Regulatory Authorities ◽  
Policy Measures

The objective of this paper is to offer a systematic review and assessment of the policy measures adopted to date for financial consumer protection (FCP) in the household lending sector in Korea. In so doing, we focus on the “software” aspects of the policies adopted so far in terms of four particular groups of consumer issues: (1) information provision (by service providers), (2) financial literacy programs, (3) sales practices, and (4) dispute resolution (rules and processes). We also attempt to relate the FCP policies to two broader goals of financial market regulations - financial stability and financial inclusion. Our analyses indicate that; the regulatory authorities in Korea initiated the FCP policies early on, which cover a fairly comprehensive set of policy measures with almost all sub-items of the aforementioned four dimensions being included; some of the FCP policies are driven in large part by the intent of stabilizing the housing and mortgage market rather than protecting financial consumers per se, for which the regulatory authorities should weigh the anticipated benefit in terms of financial stability against the unintended cost in financial inclusion; and the Korean FCP policies tend to focus on the residential mortgage lending sector, which should be extended to other consumer lending products (e.g., credit – or non-collateralized – lending, credit card receivables, and car loans). Though seemingly comprehensive, the FCP policies in Korea should be further refined and enhanced with respect to their effectiveness, for which we discuss a series of future research topics.

scholarly journals (The Role of Financial Inclusion in Providing Protection to Beneficiaries of Financial Services in the Palestinian Banking Sector (2013/2017: دور الشمول المالي في توفير الحماية للمستفيدين من الخدمات المالية في القطاع المصرفي الفلسطيني- الفترة (2013- 2017)

2019 ◽  
Vol 3 (6) ◽  
Author(s):  
Yasser Ahmed Shaheen
Keyword(s):  
Consumer Protection ◽  
Financial Services ◽  
Financial Stability ◽  
Banking Sector ◽  
Secondary Data ◽  
Financial Education ◽  
Financial Inclusion ◽  
Banking Services ◽  
Degree Of Protection

  The study aimed at examining some of the indicators of financial inclusion in the Palestinian banking sector through published secondary data on the Palestinian banking sector during the period (2013- 2017), as well as to measure the degree of protection for beneficiaries of financial services in the Palestinian banking sector. The researcher used the descriptive analytical method to suit the purposes of the study. The secondary data published and prepared by the researcher were used to examine the state of financial coverage in the banking sector. A questionnaire has been designed for the purpose of collecting preliminary data regarding the level of protection provided by the banking sector to users of financial banking services through 8 areas of protection developed after reference to literature and previous studies. The study population consisted of all the beneficiaries of banking financial services in the West Bank. In view of the large size of the study society, a soft sample of (100) conditional on the characteristics of the respondents was used in terms of (banking culture, years of experience in dealing with banks, Sectoral& banking diversification).The researcher reached the following results: - The Palestinian banking sector promotes the reality of financial inclusion, which contributes significantly to enhancing financial stability. Where banks are strengthening protection for users of banking services, although the level of protection was average (2.78) overall score through the eight areas covered by the study. - The regulatory and supervisory role of the Palestinian Monetary Authority in this important sector was medium. Consumer protection bodies are required to have an active and proactive role to organize the required protection. The researcher recommended the importance of financial education to improve the financial personality of individuals and institutions, help them understand their rights and duties in dealing with the services discharged, the importance of the consumer protection associations roles in enhancing banking protection.    

FINANCIAL STABILITY AND FINANCIAL INCLUSION: THE CASE OF SME LENDING

2018 ◽  
Vol 63 (01) ◽  
pp. 111-124 ◽  
Author(s):  
PETER J. MORGAN ◽  
VICTOR PONTINES
Keyword(s):  
Low Income ◽  
Financial Services ◽  
Financial Stability ◽  
Developing Economies ◽  
Empirical Studies ◽  
Bank Lending ◽  
Financial Inclusion ◽  
Nonperforming Loans ◽  
Z Scores ◽  
Negative Impacts

Developing economies are seeking to promote financial inclusion, i.e., greater access to financial services for low-income households and firms. This raises the question of whether greater financial inclusion tends to increase or decrease financial stability. A number of studies have suggested both positive and negative impacts on financial stability, but very few empirical studies have been made. This study focuses on the implications of greater financial inclusion for small and medium-sized enterprises (SMEs) for financial stability. It estimates the effects of measures of the share of bank lending to SMEs on two measures of financial stability — bank nonperforming loans and bank Z scores. We find some evidence that an increased share of lending to SMEs aids financial stability by reducing non-performing loans (NPLs) and the probability of default by financial institutions.

scholarly journals Consumer Justice: A Symbol of Economic Prosperity and Social Progressiveness

2016 ◽  
Vol 1 (2) ◽  
pp. 170
Author(s):  
Subir Kumar Roy
Keyword(s):  
Consumer Protection ◽  
Financial Services ◽  
Financial Stability ◽  
Service Providers ◽  
Growth Efficiency ◽  
Safety Standards ◽  
Secondary Sources ◽  
Goods And Services ◽  
The People ◽  
Bargaining Position

It is well recognized fact that consumer confidence and trust in a well functioning market for financial services promotes financial stability, growth efficiency and innovation over the long term. So protection of the interest of consumers is not merely an ethical or humanitarian issue rather it is also an issue of economy. Consumer protection demands for setting of minimum quality specification and safety standards for goods and services to curb unfair trade practices. So far the international norms are concerned it effectively contains the Bill of Rights of Consumers which help them across the globe to effectively protect their interests. Keeping in consideration about the poor bargaining position of the consumers and with an aim to ensure consumers to access non-hazardous products United Nation issued Guidelines for Consumer Protection, 1985, expanded again in 1999. The consumer justice is a facet of socio-economic justice and emanates from the basic philosophy of the Indian constitution i.e. to do justice and to strengthen the standard and status of the people of this country. It has been discussed in this article in an elaborate way about the various provisions of the Constitution and all the legislations which addresses the issues of consumers and resolve to protect their interests. But still the exploitation of Indian consumers by the dishonest traders and service providers become a routine matter and this article also scanned the reasons for the same and also provides suggestions to ameliorate the conditions of consumers. This paper is based on qualitative analysis of the information mainly obtained from secondary sources such as different books and journals as referred over here, Policy documents, existing laws, reports of United Nations, important judgments and observations of Judiciary etc.

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