Promoting Inclusive Markets and Financial Systems
Summary"Welcome E- participants to the 25th Speaker’s Corner, on “Savings: The Forgotten half of Financial Interventions. Many thanks for registering for a discussion on savings, which as the name suggests, has not been in the forefront of initiatives of a growing microfinance sector.
Over the next three days, this forum will host discussions on savings – the key objective being to understand the reason for a continuing mismatch between demand and supply for savings services.
During day 1, our discussion will be from the user’s perspective. What is it that the low income people look for, when they demand from a client oriented savings product? Do we have lessons to learn from the different coping mechanisms that are used by low income people to mange their financial affairs?
Day 2 will discuss issues from the supplier’s perspective. Discussions around savings are usually limited to legal issues which influence it, or deposits as source of funds rather than the need to meet the basic financial needs of financial institutions’ clients. What factors inhibit service providers from offering financial services? How will new delivery systems such as e-banking, or the growing acceptance of fee-based systems, affect this?
The discussion on day 3 will continue with a special focus on delivering savings services in difficult (for example remote or post conflict) areas – Do these areas need a special focus? Will similar products work, or do we need to think differently?"