A key global initiative that currently unites much of the world is the 2030 Agenda for Sustainable Development. Launched by the United Nations back in 2015, Agenda 2030 is an action plan for “people, the planet and prosperity”, which countries and stakeholders, acting in collaborative partnership, have pledged to implement.
Despite the gender-diversity rhetoric in business, the gender makeup of corporate boards, including those of MENA, reveal that the female population is poorly represented at the top. And studies prove that this imbalance works against the bottom line. Companies with female directors tend to fly higher profit-wise than their all-male competitors. Changes need to start at the societal level, with more women succeeding on every rung of the business ladder.
A recent report by Access to Cash has suggested that cash transactions could fall to just 10% of all payments within the next 15 years. This is not very surprising given thatlast year, debit cards officially overtook notes and coins as the UK’s most popular form of payment.
An efficient financial sector is central to maximizing an economy’s potential by helping it to make optimal and longer-term investments. Developing countries face a chicken and egg dilemma when it comes to financing, because it is hard to have efficient financial services without companies that can make good use of funding. This article examines how practical intervention to build the capacity of financial services through professional training will boost developing countries.
The world’s citizens have always been beset by risks of different types, but the frequency and intensity of risks from a variety of sources are increasing, especially for emerging economies in Latin America and the Caribbean. Insurance is the preferred recourse for those suffering from unfortunate events beyond their control, but even insurance has its limitations. What are the most effective risk-management tools available today?
Experienced investors know that the most lucrative returns can come in the least attractive packages. Frontier markets, the world’s pre-emerging markets, could be the new frontier for high growth—at least for those investors who can look past the higher risks. Is the frontier market worth those risks? Many investors believe it is, which is why the market is only slightly less popular than its developed and emerging counterparts.
President Jair Bolsonaro assumed Brazil’s highest political office on January 1, 2019. From mid-2016 to the end of 2018, a team of experts worked diligently to improve Brazil’s integration with the global economy in such areas as relations with international organizations, domestic framework for officially supported export credits and trade policy. Their initiatives provide the new administration with a strong path to prosperity through reduction of lingering barriers to international inclusion.
For the 28 jurisdictions that are members of the Basel Committee on Banking Supervision, adopting Basel banking standards is a given. But why are some non-member developing countries embracing the reforms when they don’t have to? The answers vary by country, but the final lesson is that regulators should carefully evaluate the advantages and disadvantages of adopting Basel regulations in whole or in part for their nation’s unique situation.
You could be excused for thinking that financial inclusion is a given. In reality, however, this is far from the truth. As illustrated by a recent report by the World Bank, 1.7 billion adults across the world are ‘unbanked’, meaning they do not possess a bank account or have access to formal finance. This situation is not confined to just one part of the world. Whether you live in a developed country or developing region, the unbanked can be found. For example, just 14 percent of adults in the Middle East hold a bank account.
Digitalization has become second nature to many banks around the world, but not all. In the Central European country of Hungary, many banks—and their customers, who are relatively uninformed of the ways going digital can enhance their personal financial management—are in the early stages of the digital banking voyage. The time has arrived for Hungarian banks to jump into the present, or remain behind in the past.