Barriers to financial inclusion

Barriers to financial inclusion refer to the obstacles that prevent individuals from accessing and using financial services such as banking, credit, savings, and insurance. These barriers can include factors such as lack of financial literacy, limited access to banking services in rural or underserved areas, high fees and costs associated with financial products, stringent documentation requirements, and discriminatory practices. Addressing these barriers is crucial for promoting economic empowerment and reducing poverty among marginalized populations.

This mind map was published on 21 February 2024 and has been viewed 158 times.