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MEASURING FINANCIAL INCLUSION:
THE GLOBAL FINDEX
Asli Demirguc-Kunt & Leora Klapper

GLOBAL FINDEX OVERVIEW
Goal to collect comparable cross-country data on financial inclusion by
surveying individuals around the world:
― Measure the use of formal and informal financial services, using consistent
methodology across economies and time
― Identify the segments of the population with greatest barriers to access to finance:
poor, woman, youth, and rural residents.
― Motivate and track policies to expand financial services to the poor
― Design a questionnaire to harmonize financial inclusion questions across
economies
Funded by a 10 year grant from the Bill & Melinda Gates Foundation (through
2020)
Added questions on the use of financial services - payments, savings, credit,
and insurance - to the 2011 Gallup World Poll

GLOBAL FINDEX ACCOUNTS AND PAYMENTS
Over 2.5 billion adults do not have a formal account
41% of adults in developing economies are banked—compared to 89% of adults in high-
income economies
37% of women in developing economies are banked—compared to 46% of men
23% of adults living below $2 per day have a formal account

23% of adults in developing economies have a debit card—compared to 62% in high-income
economies
11% of account holders in developing economies use their accounts for business purposes—
compared to 29% in high-income economies

77% of adults in Africa are unbanked
22% of women in Africa are banked, compared to 27% of men
21% of rural residents in Africa are banked, compared to 38% of urban residents
Account Penetration
Adults with an Account at a Formal Financial Institution (%)
Source: Demirguc-Kunt and Klapper (2012)
11%
20% 23%
28%
51%
0%
20%
40%
60%
80%
100%
Central Africa North Africa Western Africa Eastern Africa Southern Africa
Percentofpopulation

Women, youth, the poor, and rural residents are the least likely to have a formal account
Adults in the poorest income quintile in developing economies are half as likely to be banked as
adults in the richest quintile
A 6-9 percentage points gender gap persists across income groups in developing economies

0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0 50 100 150 200 250
PercentofAdultswithanAccount
Domestic Credit to Private Sector (% of GDP)
Africa
Other Economies
Source: Demirguc-Kunt and Klapper, 2012 and World Bank, 2012.

31 percent of unbanked in Sub-Saharan Africa choose “Too far away”
31 percent of unbanked in Europe and Central Asia choose “[I] don’t trust banks”
40 percent of unbanked in Latin America and the Caribbean choose “They are too expensive”

.
Source: Demirguc-Kunt and Klapper, 2012 and IMF Financial Access Survey (FAS).
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0 20 40 60 80 100
AccountPenetration
Number Of Commercial Bank Branches Per 100,000 Adults
Other Economies
Africa

8% of account holders worldwide have zero deposits and withdrawals in a typical month
50% of account holders in developing economies both deposit into and withdraw from their
account 1-2 times in a typical month
54% of account holders in developing economies typically withdraw money from a teller

38% of account holders in SSA use their account to receive money from family living elsewhere;
24% of account holders in SSA use their accounts to receive money from the government and
41% of account holders in SSA use their accounts to receive wages
61% of account holders in ECA use their account to receive wages—compared to 34% of all
account holders in developing economies and 56% of account holders in high-income economies

16% of adults in SSA use a mobile
phone to pay bills, send or receive
money in the past year
68% of adults in Kenya use mobile
money technology, driven by the early
success of M-PESA
52% of adults in SSA who use mobile
technology to transfer money are
otherwise unbanked
5% of adults in all developing
economies use mobile money
technology

GLOBAL FINDEX SAVING
31% of adults in developing economies saved in the past year
56% of savers in developing economies saved using a formal financial institution
48% of savers in in Sub-Saharan Africa saved using a community-based method

48% of savers in Sub-Saharan Africa save using a community savings club
53% of women who save in Sub-Saharan Africa do so using an informal savings club,
compared to 43% of men who save.
0%
20%
40%
60%
80%
100%
Central Africa West Africa East Africa Southern
Africa
North Africa Africa World
Saves using other methods only
Saves at a Financial Institution
Formal and Informal Savings in Africa
Adults saving any money in the past year (%)

40% of account holders in developing economies saved formally in the past year
39% of account holders in SSA and 15% of account holders in LAC saved informally in the
past year
7% of account holders in ECA saved formally in the past year

GLOBAL FINDEX CREDIT AND RISK MANAGEMENT
7% of adults in developing economies have a credit card—compared to 50% of adults in high-income
economies
8% of adults in developing economies borrowed money from a formal lender in the past year—compared to
14% of adults in high-income economies
3% of adults in developing economies report having a mortgage outstanding—compared to 24% of adults in
high-income economies
17% of adults personally purchased health insurance; 6% of adults working in farming, forestry, or fishing
have crop, rainfall, or livestock insurance in the past year

0%
5%
10%
15%
20%
25%
30%
35%
40%
School fees Emergency/health Funerals/weddings
Percentofpopulation
World
Africa
Central Africa
West Africa
East Africa
Southern Africa
North Africa
Reported Reason for Credit
Adults (%)

0%
20%
40%
60%
80%
100%
Africa Rest of the World
Small Medium Large
0%
20%
40%
60%
80%
100%
Africa Rest of the World
Small Medium Large
Panel A: Bank Account (%) Panel B: Loan or Line of Credit (%)
Source: World Bank Enterprise Surveys, various years. Available at: www.Enterprise Surveys.org.
Note: Sample size is 106 countries. Africa includes 38 countries all from Sub-Saharan Africa.
Firms with a Bank Account or Loan/Line of Credit
Firms (%)

Source: World Bank Enterprise Surveys, various years. Available at: www.Enterprise Surveys.org.
Note: Sample size is 106 countries. Africa includes 38 countries all from Sub-Saharan Africa.
Investment Financing by “High-Growth” SME’s
“High-Growth” Firms, defined as employment growth greater than 20% (%)
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Africa
Developing
Economies
(Excluding Africa)
Internal Banks Supplier Credit Equity Other

To conclude
• This data can be useful for policy makers, bankers, NGO’s, donors, and researchers
interested in a holistic understanding of how adults around the world use financial
services.
• Key headline indicators –formal accounts and credit—will be available annually, and
the full questionnaire will be collected triennially.
• The data is included in the G-20 GPFI basic set of financial inclusion indicators to
benchmark and set targets for financial inclusion strategies.

GLOBAL FINDEX DATA RELEASE
Global Findex Suite of Products
― Financial Inclusion Data Portal
― World Bank eAtlas of Financial Inclusion
― The Little Data Book on Financial Inclusion 2012
― Global Financial Inclusion Microdata Databank (October 2012)
Reference citation for the Global Findex:
Asli Demirguc-Kunt and Leora Klapper, 2012, “Measuring Financial Inclusion:
The Global Findex Database”, World Bank Policy Research Paper 6025
www.worldbank.org/globalfindex

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