Decker, Olufemi (2023) Inclusive/Selective/Compliant Finance/Banking. In: Idowu, Samuel, Schmidpeter, René, Capaldi, Nicholas, Zu, Liangrong, Baldo, Mara Del and Abreu, Rute, (eds.) Encyclopaedia of Sustainable Management. Springer Reference . Springer, Cham, Switzerland. ISBN 978-3030020064; 978-3030020064 (doi:10.1007/978-3-030-02006-4)

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Abstract

The term Inclusive Banking is a more recent addition to the sustainability discourse. It is linked to but differs from other terms such as financial inclusion, microfinance and sustainable banking that are used in discussions on the role of finance in inclusive and sustainable growth. Most frequently, financial inclusion is defined as the extent to which financial services are accessed and used at a point in time. The term inclusive banking suggests a dynamic concept that captures systematic approaches to the design and delivery of banking services with the goal of ensuring that banking products and the processes through which they are developed and made available to consumers are useful to communities and society, do not have detrimental or exploitative impacts on segments of society and are non-discriminatory. Inclusive banking focuses on the practical design and implementation of institutional measures that address the causes of financial exclusion and problems associated with progressing financial inclusion. Inclusive banking melds social justice principles, organisational values and economic considerations. Mainstream commercial banks as well as non-bank financial institutions, telecommunications and digital finance companies, nongovernmental institutions, governments and regulators all have a role to play in the development of inclusive approaches to providing core banking services. This makes inclusive banking a multi-stakeholder activity that requires consultation, commitment at policy and resource levels and cooperation. It is not the sole responsibility of banks.

Item Type:	Book Section
Uncontrolled Keywords:	financial inclusion; banks; sustainable finance; banking; microfinance
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HG Finance
Faculty / School / Research Centre / Research Group:	Faculty of Business Greenwich Business School > Political Economy, Governance, Finance and Accountability (PEGFA)
Last Modified:	02 Dec 2024 16:08
URI:	http://gala.gre.ac.uk/id/eprint/28251

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