Comentarios en: Repasando temas de “Inclusión financiera y microfinanzas”

Por: Daniel Sotelsek

Daniel Sotelsek — Tue, 15 Jan 2013 10:28:39 +0000

Hi Carlos,
Thanks for your comments. As you see these days, regulation does not always relate to the big fish!

Por: JUL_12_Carlos Gutiérrez Tesias

JUL_12_Carlos Gutiérrez Tesias — Mon, 31 Dec 2012 19:49:47 +0000

Daniel Sotelsek, thank you very much for this very interesting article. It briefly describes the reality of what have happened in the financial sector.

I agree that financial inclusion is a good tool for the economic development of the countries and people.

I think financial education is a key element to the proper use of financial instruments in order to avoid risks that can lead to situations like the one currently undergoing Spain.

Obviously there must be a regulatory element that controls all transactions carried out by financial institutions and which forces the application of good banking practices. I think the regulatory element, by protecting both the interests of the financial institutions and users can ensure stability and avoid risks in the financial market.

Por: Daniel Sotelsek

Daniel Sotelsek — Sun, 30 Dec 2012 20:51:26 +0000

Guillermo,

it’s not so crystal-clear. But your argument runs well. Regards

Por: Daniel Sotelsek

Daniel Sotelsek — Sun, 30 Dec 2012 20:50:04 +0000

Thanks for your comments, Javier. Have a happy new year!

Por: Daniel Sotelsek

Daniel Sotelsek — Sun, 30 Dec 2012 20:44:46 +0000

Good point Tanvi! financial inclusion means empowering people to run their own lives. Please share with us microfinance’s experiences in India.
Best regards
daniel

Por: Daniel Sotelsek

Daniel Sotelsek — Sun, 30 Dec 2012 20:42:03 +0000

Antonio,
don’t miss that in Spain there weren’t a market for microcredits. Unfortunately, banks and “cajas” focused on consumer credits. Quite a different thing!

Por: Daniel Sotelsek

Daniel Sotelsek — Sun, 30 Dec 2012 20:38:57 +0000

Thanks Daniel. I’d add financial inclusion is as much as social cohesion.

Por: Daniel Huertos Castellanos- GAIA program member. September Group (SEPT_12_Daniel Huertos Castellanos)

Thu, 27 Dec 2012 21:20:56 +0000

Sotelsek Daniel, thank you very much for this very interesting blog. I think this blog is well suited to understand the current situation of the Spanish economy.

In summary, I would like to highlight the last paragraph:

“One of the conclusions of the forum was that financial inclusion is an important tool for developing countries with poor social situations. Indeed, there were numerous cases of success, where a small credit was instrumental in poverty out of whole populations . Nevertheless, it is necessary that financial inclusion is accompanied by education and regulation. otherwise, the opposite can happen to the benefits of inclusion, such as in Spain”.

Por: Daniel Huertos Castellanos - GAIA program member. September Group ( SEPT_12_Daniel Huertos Castellanos)

Wed, 26 Dec 2012 18:31:04 +0000

Sotelsek Daniel, thank you very much for this very interesting blog. I think this blog is well suited to understand the current situation of the Spanish economy.

In summary, I would like to highlight the last paragraph:

Por: tanvi

tanvi — Fri, 21 Dec 2012 11:20:04 +0000

The 2008 financial crisis highlighted the profound importance of finance for the globalised economy. But still lack access to formal banking services, credit facilities, or savings instruments
In some countries, as much as 90% of the population lacks access to the formal financial system. This impedes their participation in the global economy by restricting their ability to buy goods and services, to borrow and save, or to invest in their future and that of their community and country.
A well-functioning financial system is a crucial part of development, promoting economic growth and reducing poverty. If market functions well, funds will likely be allocated to the most productive users, which will contribute to economic growth and poverty reduction. However, when the market does not function properly, it loses growth opportunities.
A financial system becomes more efficient and functions better when it is more inclusive. As a financial system becomes more inclusive, it provides more growth opportunities to more individuals and entrepreneurs. However, when the financial system serves only limited segment of the population, the society is likely to lose opportunities to grow.
The goal of financial inclusion has been widely embraced, and the right combination of political will and technology make it seem attainable, there is a link between financial inclusion and financial education which teaches the knowledge, skills and attitudes that people can use to adopt good money management practices.
Governments can contribute to improving access to finance through appropriate policies, legislation, etc. However, experience suggests that not all government policies are helpful But access alone is not enough. We need to make sure that people are using the right financial products,
Access to appropriate and affordable financial services is a basic essential of modern life: to make everyday transactions; to cover short terms financial needs or match longer term financial aspirations; to plan for retirement; to protect your patrimony; to protect against the impacts of unexpected health events of your savings, etc.