Article | Open Access | Published: 1 December 2017
UN-BANKING IN UNDER-DEVELOPING ECONOMY
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Abstract:
This research is an attempt to examine the reasons behind un- banking in under developing economy particularly in Pakistan. For this purpose, qualitative approach called summative content analysis approach is used 36 interview with banked and unbanked poplace are incorporated. The study finds that lack of education, trust on bank/banker, volatile situation in city/country,accessibility/convenience, infrastructure, interest rate in terms of religious exclusion andfinancial benefits, high cost associated with opening and maintaining an account, lack offacility of online payment via debit card/ATM, lack of money, unemployment, governmentregulations, branch banking, convenience and some other factors are the general reasons forun-banking in Pakistan. However, the study concludes that main factors; convenience, costand security are the major reasons for un-banking in Pakistan.After concluding this research authors suggested financial institutions should increasenumber of access points/centres. Give more authorisations to financial centres, and Promotefinancial awareness
Keywords:
Summative Content Analysis,Unbanked, Security, poverty, financialinstitution, Cost.
Publisher:
ILMA UNIVERSITY
Published:
1 December 2017
Issue:
Issue 2 : Volume 13
E-ISSN:
2409-6520
P-ISSN:
2414-8393
DOI:
-
This is an open access article distributed under the terms of the Creative Commons Attribution CC BY 4.0 license, which permits any use, distribution, and reproduction of the work without further permission provided the original author(s) and source are credited.