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“I contend that a country that tries to tax itself into prosperity is like a man standing in a bucket trying to lift himself up by the handle.” (Sir Winston Churchill, 1904) One of the basic principles of taxation is fairness and neutrality. This principle demands that taxes should not favour any one group over another and should not be designed to influence individual decision making. To understand this principle, imagine two (2) primary school teachers, earning the same salary would be paying different levels of taxes provided one uses their mobile money account or bank account. This is only because one of them decided to use mobile money rather than the known traditional means. ....
1. Background and Context: Women’s Financial Inclusion is critical to supporting economic growth especially as economies struggle to recover from the global economic crisis brought about the Corona Virus Pandemic. The journey towards achieving gender parity in financial inclusion in Nigeria commenced with the revision of the National Financial Inclusion in Nigeria in 2018 which identified 5 key focus groups to target interventions and policies in order to achieve the financial inclusion goal including; Women, Youth, MSMEs, Rural areas and Northern indigenes. In 2016, Nigeria, along with other member countries of the Alliance for Financial Inclusion (AFI) committed to the Denarau Action Plan (DAP) which prescribes halving the global Financial Inclusion Gender Gap by 2021. The DAP outlines ten actions, one of which includes a specific commitment to consider and implement best practices in integrating policies for women’s financial inclusion and gender considerations ....
Pakistan’s microfinance sector achieved a significant milestone with consistent growth over a period of one decade. However, it missed all major targets ....
2020 was mostly spent in managing COVID-19. Almost all countries had schemes announced by their central banks, which entailed a payment holiday or relaxation of some sort. This often required a change of systems and processes with Islamic banks closely working with their respective Shariah boards. We also witnessed that some policies announced by central banks were beneficial for Islamic banking clients. For example, profit accrued during the payment holiday period could not be capitalized on Islamic products, which in some markets was not applicable for conventional banking clients. Business direction moved from growth to portfolio protection and stabilization. The credit underwriting criteria was tightened due to the slowdown, with greater focus on hard hit sectors like hospitality, airlines, etc. ....
Leveraging geospatial technology for financial inclusion Photo: Kdonmuang/Shutterstock Bringing financial access points such as bank branches, mobile-money agents, and ATMs close to people is a way to reduce barriers to financial inclusion. The poor distribution of these services often leaves individuals, especially those living in remote areas, with restricted or no access to financial services. To help address this challenge, many authorities have been using traditional tools to monitor and track financial access, such as through country-led, demand-side financial inclusion surveys and supply-side supervisory templates. But these tools have limitations. , according to the report Leveraging Geospatial Technology for Financial Inclusion. The recently launched report, which draws on insights and lessons learned through the Financial Inclusion Support Framework (FISF) program, provides guidance to financial sector authorities and related stakeholders on benefit ....