The Banking Executive Magazine - January 2023 Issue

Financial Inclusion in the Arab World 2. The Central Bank of Iraq's "Financial Inclusion Program": The Central Bank of Iraq has es- tablished a number of initiatives to increase financial inclusion in the country, including working with commercial banks to set up branches in underserved areas and providing training to bank staff to improve the delivery of fi- nancial services to low-income households. The bank also launched a financial inclusion program in 2018 which aims to provide access to basic banking services for all citizens and in particular, low-income house- holds, women and youth. 3. The Central Bank of Tunisia's "Financial Inclusion Policy": The Central Bank of Tunisia has implemented a number of initia- tives aimed at increasing financial inclusion in the country, includ- ing working with commercial banks to set up branches in un- derserved areas, promoting the use of mobile banking, and sup- porting the development of mi- crofinance institutions. The bank also has a financial inclusion pol- icy which aims to provide access to basic banking services and products to all segments of soci- ety, particularly low-income households and small and medium-sized enterprises (SMEs). 4. The Central Bank of Jordan's "Financial Inclusion Strategy": The Central Bank of Jordan has launched a financial inclusion strategy that aims to increase ac- cess to financial services for un- derserved and marginalized segments of the population. The strategy includes measures such as setting targets for bank branch expansion in underserved areas, developing regulations and guidelines to support the growth of mobile banking, and promot- ing the use of technology to en- hance financial inclusion. 5. The Saudi Arabian Monetary Authority's (SAMA) "Financial Inclusion Program": SAMA has implemented a num- ber of initiatives aimed at increas- ing financial inclusion in Saudi Arabia, such as establishing a reg- ulatory framework for digital banking and promoting the use of digital and mobile banking serv- ices. The Financial inclusion pro- gram also includes financial literacy and consumer protection component. 6. The Central Bank of Sudan's "Financial Inclusion Strategy": The Central Bank of Sudan has established a financial inclusion strategy that focuses on increas- ing access to financial services for underserved and marginalized ISSUE 169 JANUARY 2023 the BANKING EXECUTIVE 47