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Un-Banking In Under-Developing Economy

Author

Listed:
  • Babar Ansari

    (M.phill Scholar at Institute of Business Management-IOBM)

  • Kanwal Gul

    (M.phill Scholar at Institute of Business Management-IOBM)

  • Aamir Feroz Shamsi

    (Professor PAF-KIET)

  • Nawaz Ahmad

    (Institute of Business Management-IOBM)

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 and financial benefits, high cost associated with opening and maintaining an account, lack of facility of online payment via debit card/ATM, lack of money, unemployment, government regulations, branch banking, convenience and some other factors are the general reasons for unbanking in Pakistan.However, the study concludes that main factors convenience, cost and security are the major reasons for unbanking in Pakistan. After concluding this research authors suggested financial institutions should increase number of access points/centres.Give more authorisations to financial centres, and Promote financial awareness

Suggested Citation

  • Babar Ansari & Kanwal Gul & Aamir Feroz Shamsi & Nawaz Ahmad, 2017. "Un-Banking In Under-Developing Economy," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 13(2), pages 72-93.
    • Handle: RePEc:aib:ibtjbs:v:13:y:2017:i:2:p:72-93
    DOI: https://doi.org/10.46745/ilma.ibtjbs.2017.132.7
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    References listed on IDEAS

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    1. Martha Perine Beard, 2010. "Reaching the unbanked and underbanked," Central Banker, Federal Reserve Bank of St. Louis, issue Win.
    2. Jordan Kjosevski, 2013. "Banking Sector Development and Economic Growth in Central and Southeastern Europe Countries," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 19(4), pages 461-473, March.
    3. Bruhn, Miriam & Love, Inessa, 2009. "The economic impact of banking the unbanked : evidence from Mexico," Policy Research Working Paper Series 4981, The World Bank.
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    Cited by:

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