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Nigeria promoting financial inclusion through prize-linked promotions
Showy and appealing, prize-linked promotions (PLPs) are the modern version of ‘Million Adventure’, a savings programme launched in the UK in 1694. Anne Murphy in “Lotteries in the 1690s: Investment or Gamble?” described it as “an unprecedented large-scale financial saving tool”. Thomas Neale, who was in charge of the promo commenting on its success said: ‘many Thousands who only have small sums, and cannot now bring them into the Publick, [may now] engage themselves in this Fund’.
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Reserve Bank of India panel suggests new set of banks for financial inclusion
RBI panel headed by Nachiket Mor also seeks universal electronic bank account for all adult Indian citizens by January 2016.
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A New Way to ‘Experience’ Favelas: A social enterprise bringing tourists and favela residents under one roof
Favela Experience offers authentic room and apartment rentals to travelers in Rio’s safe and vibrant favela communities. The social venture aims to generate sustainable income for favela host families while breaking negative stereotypes about favelas.
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NexThought Monday – Announcing the Most Influential Posts of 2013
We asked for your vote, and NextBillion readers cast more than 16,000 in our contest to pick the Most Influential Post of the year. Here are your winners for 2013.
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The Best of 2013: What’s Game-Changing in Latin America?: How new financial technologies and business models are powering financial inclusion in the region
Latin America has a long way to go in achieving financial inclusion, despite generally positive trends. Its residents often struggle with lack of savings and credit access, limited credit histories, and high interest rates - and they often avoid formal financial institutions. Accion Venture Lab describes some innovative business models and technologies that are addressing these issues.
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- Education, Technology
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Bank Alfalah introduces mobile money service in Pakistan
Pakistani Bank Alfalah has teamed up with operator Warid Telecom to launch a mobile money service. The service, Mobile Paisa, will initially enable users to make utility bill payments and secure money transfers across Pakistan.
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- South Asia
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Opinion : Women and the poor are invisible in the Crisil index of financial inclusion in India
Indices such as these are designed to help policymakers and service providers improve financial inclusion, which is often defined as reaching the "unreached". But if the aim is to reach the poor and to reach women, then the figures should give us a break-up by gender
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Opinion : ‘FDI in micro finance will help Muslims’ in India
Studies show that hundreds of Women Self Help Groups and co-operative societies created at Muslim-populated areas were denied recognition as the members were only Muslims.
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