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El Salvador Financial Sector Assessment Program Development Module: Financial Inclusion

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dc.contributor.authorWorld Bank
dc.date.accessioned2017-03-15T21:43:05Z
dc.date.available2017-03-15T21:43:05Z
dc.date.issued2016-11
dc.description.abstractThis Technical Note was prepared in the context of a World Bank Financial Sector Assessment Program mission in the Republic of El Salvador in March 2016. Despite the challenging economic environment, El Salvador has made significant strides towards a more inclusive financial sector. However, El Salvador faces a number of challenges, including regulatory weaknesses and uncertainty, anti-competitive practices, and a fragile security situation that impacts investment and innovation. The country still presents low levels of access to and use of a range of financial services. The financial sector is diversified, but some challenges need to be overcome to increase competition and innovation. There seem to be no excessive legal barriers to entry for new banks and the framework allows for a diverse range of large and small deposit-taking entities. The microfinance sector is diverse and competitive and reforms are underway to strengthen regulation and supervision, but capacity is an issue. Also, the microfinance prudential regulation should be improved to be in line with international good practices and standards. Reforms are needed to spur the use of electronic accounts and transactions and to improve the draft rules for simplified accounts. Further progress could be made by allowing bank and nonbank financial institutions access to and use of telecommunications infrastructure on a non-discriminatory basis. An effective consumer protection legal, regulatory and supervisory framework is needed to ensure healthy financial inclusion. The Note contains technical analysis underpinning the FSAP findings and recommendations. Given the requested focus on digital finance and consumer protection, certain areas relevant to financial inclusion – notably small and medium enterprise finance, financial education, microfinance regulation and supervision– have been addressed in an abbreviated manner in this Technical Note. Although this Note incorporates some insights from the Technical Notes covering Financial Infrastructure, Non-Bank Savings and Credit Institutions (NBSCI) and Public Banks, not all related issues are incorporated in this Note, so the other Technical Notes should be read for a more comprehensive view of Salvadoran financial inclusion.en
dc.identifierhttp://documents.worldbank.org/curated/en/403111487932558966/El-Salvador-Financial-sector-assessment-program-financial-inclusion
dc.identifier.doi10.1596/26279
dc.identifier.urihttps://hdl.handle.net/10986/26279
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectFINANCE
dc.subjectECONOMIC GROWTH
dc.subjectPERFORMANCE
dc.subjectMANAGEMENT
dc.subjectREGULATION
dc.subjectfinancial inclusion
dc.subjectdiversity
dc.subjectprovider reach
dc.subjectconsumer protection
dc.subjectlegal framework
dc.subjectdisclosure
dc.subjectdata security
dc.titleEl Salvador Financial Sector Assessment Program Development Moduleen
dc.title.subtitleFinancial Inclusionen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleEl Salvador Financial Sector Assessment Program Development Module
okr.date.disclosure2017-02-24
okr.doctypeEconomic & Sector Work::Financial Sector Assessment Program
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/403111487932558966/El-Salvador-Financial-sector-assessment-program-financial-inclusion
okr.guid403111487932558966
okr.identifier.doi10.1596/26279
okr.identifier.externaldocumentum090224b084998acb_2_0
okr.identifier.internaldocumentum27220675
okr.identifier.report112983
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/403111487932558966/pdf/112983-REPLACEMENT-PUBLIC-El-Salvador-FSAP-DM-TN-Financial-Inclusion-Public.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryEl Salvador
okr.sectorFinance
okr.themeFinancial and private sector development :: International financial standards and systems
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::E-Finance and E-Security
okr.topicFinance and Financial Sector Development::Finance and Development
okr.topicFinance and Financial Sector Development::Financial Intermediation
okr.topicFinance and Financial Sector Development::Financial Literacy
okr.topicFinance and Financial Sector Development::Financial Regulation & Supervision
okr.unitFinance and Markets Global Practice; and Latin America and the Caribbean Vice Presidency
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