Journals Information
Universal Journal of Accounting and Finance Vol. 10(1), pp. 37 - 46
DOI: 10.13189/ujaf.2022.100105
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Role of Government Policies to Fintech Adoption and Financial Inclusion: A Study in Pakistan
Misbah Noreen 1, M. S. Mia 1,*, Zahiruddin Ghazali 1, Ferdoushi Ahmed 2
1 School of Economics, Finance and Banking (SEFB), Universiti Utara Malaysia (UUM), 06010 Sintok, Kedah, Malaysia
2 Faculty of Economics, Prince of Songkla University (PSU), Hat Yai, Songkhla, 90112, Thailand
ABSTRACT
Purpose- Pakistan is a lower-middle-income country and financial inclusion rate is comparatively lower than other South Asian countries. In this circumstance, Government of Pakistan has implemented various financial inclusion policies and strategies to enhance the rate of financial inclusion in the country. However, a cursory attention has been paid to Government policies by the previous studies. Therefore, the aim of this study is to provide an insight into the current government policies and strategies for fintech adoption and financial inclusion in Pakistan. Design/ methodology/ approach- This study collected and reviewed previous literature that focused on various fintech adoption and financial inclusion policies and strategies by the Government of Pakistan. Literature has been selected from various secondary sources such as journal articles, conference proceedings, annual reports of SBP (State Bank of Pakistan), Global findex report by World Bank and so on. Findings- The study found that Government of Pakistan has successfully implemented a number of financial inclusion policies and strategies during the last decade. A noteworthy innovation approach (i.e. fintech) was applied as a catalyst in order to extend the scope of financial services in Pakistan. The Government also implemented Financial Literacy Programs specifically for youth to create awareness about financial resource management in the country. Very recently, Government of Pakistan launched banking on equality program to enhance gender equality in financial inclusion. Originality/value- The findings of this study might be useful for the decision makers and practitioners to implement the policies and strategies more effectively and efficiently to enhance the rate of financial inclusion in country.
KEYWORDS
Fintech, Financial Inclusion, Government Policies, Pakistan
Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Misbah Noreen , M. S. Mia , Zahiruddin Ghazali , Ferdoushi Ahmed , "Role of Government Policies to Fintech Adoption and Financial Inclusion: A Study in Pakistan," Universal Journal of Accounting and Finance, Vol. 10, No. 1, pp. 37 - 46, 2022. DOI: 10.13189/ujaf.2022.100105.
(b). APA Format:
Misbah Noreen , M. S. Mia , Zahiruddin Ghazali , Ferdoushi Ahmed (2022). Role of Government Policies to Fintech Adoption and Financial Inclusion: A Study in Pakistan. Universal Journal of Accounting and Finance, 10(1), 37 - 46. DOI: 10.13189/ujaf.2022.100105.