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Adopting Mobile Banking Technology To Achieve Financial Inclusion In Islamic Countries

EasyChair Preprint no. 2920

8 pagesDate: March 11, 2020


Financial products and services drive the world’s development and reduce poverty. However, more people globally currently lack the most basic financial services. Recently, enhancing financial inclusion has been driven by a new digital technology accessed via mobile money account. Meanwhile, mobile money is having a significant social impact in the region through services that target financially excluded population groups. As we know, the spread of mobile money in Kenya slashed poverty, drove up savings and helped women leave agriculture for jobs in business and retail. The aim of this paper is to propose mobile money model that lead to ameliorate the financial inclusion in Arab Muslim countries in the MENA region. This study is qualitative approach by focusing on online desk research as sources of data to explore and to design the proposed model. MENA could easily follow in Kenya’s footsteps, and earn immense benefits. The adoption of mobile money systems makes transactions cheaper, easier and safer. Allowing non-banks to participate in mobile money and Promoting interoperability without mandating will simplify financial inclusion to unbanked individuals. Governments in the Middle East and North Africa should enable digital innovation such as mobile money with conducive regulations to develop to reach unbanked people. This study contributes to understanding the role of financial inclusion on economic growth theoretically and empirically. This would provide a bigger solution for the policymakers to promote  financial inclusion through enhancing the usage of mobile money. Mobile money has transformed the landscape of financial inclusion in emerging market countries. This study explains how mobile money can help and ameliorate several areas of market failure in MENA economies, including saving, insurance, and the empowerment of women.

Keyphrases: digital technology, Financial Inclusion, Islamic finance, Mobile Banking, Mobile Money

BibTeX entry
BibTeX does not have the right entry for preprints. This is a hack for producing the correct reference:
  author = {Mohamed Ghezal and Fayçal Chiad},
  title = {Adopting Mobile Banking Technology To Achieve Financial Inclusion In Islamic Countries},
  howpublished = {EasyChair Preprint no. 2920},

  year = {EasyChair, 2020}}
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