07.08.15 — 09.08.15
Е-мейл Оргкомітету: email@example.com
Організатори: J A Alpha Business Research and Publishers Pvt Ltd
Global Business Research Journals (GBRJ) & SDMIMD, Mysore, Karnataka State, India are delighted to announce their Fourth Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences which will be held from August 7-9, 2015 in Kula Lumpur, Malaysia.
You are cordially invited to submit your research manuscripts/case studies in all areas of research in business discipline. In addition to paper presentations and discussions, the Conference will include invited lectures on contemporary topics in emerging trends in Global Business, Economics, Finance, Financial Inclusion and Social Sciences.
It is, indeed, heartening to note that 2.5 billion people are impoverished in the world and should be included in the banking network to be lifted out of poverty. Undoubtedly, delivery of the much-needed financial services at an affordable cost to this disadvantaged section is of paramount importance.
‘Financial inclusion’ is quite important as the unbanked and poor segment of the global population suffer from the following social malaises. Among others, the problems include high transaction costs of banks, high risks of default owing to hidden costs, financial products that are not according to the requirements of the people under poverty. For instance, in Sub-Saharan Africa, only 24% of adults have bank accounts (Geoffrey Muzigiti, Oliver Schmidt, ‘Moving Forward’ (January 2013).
Reaching the Most Excluded!
Throughout the world, a large segment of the population still suffers from many social issues and problems and they need support from banking and financial institutions for improving their livelihood. They include marginal farmers, landless farmers, women, unemployed, minorities, urban slum-dwellers, socially excluded groups, migrants and senior citizens. All these people should be brought to the banking net and active financial support should be extended to for betterment and well-being.
The term “financial inclusion” has gained importance since the early 2000s, as a result of research findings about financial exclusion and its direct correlation to poverty. The United Nations defines the goals of financial inclusion as follows:
• Access at a reasonable cost for all households to a full range of financial services, including savings or deposit services, payment and transfer services, credit and insurance;
• Sound and safe institutions governed by clear regulation and industry performance standards;
• Financial and institutional sustainability, to ensure continuity and certainty of investment; and
• Competition to ensure choice and affordability for clients.
Former United Nations Secretary-General Kofi Annan, on 29 December 2003, said: “The stark reality is that most poor people in the world still lack access to sustainable financial services, whether it is savings, credit or insurance. The great challenge before us is to address the constraints that exclude people from full participation in the financial sector. Together, we can and must build inclusive financial sectors that help people improve their lives” . More recently, Alliance for Financial Inclusion (AFI) Executive Director Alfred Hannig highlighted on 24 April 2013 progress in financial inclusion during the IMF-World Bank 2013 Spring Meetings: "Financial inclusion is no longer a fringe subject. It is now recognized as an important part of the mainstream thinking on economic development based on country leadership."
In this scenario, the upcoming conference aims at achieving the following objectives:
1. Creating awareness and devising suitable measures for promoting ‘financial inclusion’ with the support from banks and financial institutions;
2. Identifying suitable methods to broaden financial services to the poorest segment of the society and break down barriers in order to pave way for their participation in economic activities;
3. Developing strategies to lay down a roadmap and increase consumer access to deposits and lending, payment and transfer services for improving their standard of living;
4. Suggesting measures to make use of the internet and the modern technology in poverty alleviation and social upliftment so that every global citizen will live in peace and harmony.