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UN-BANKING IN UNDER-DEVELOPING ECONOMY

Babar Ansari (), Kanwal Gul (), Aamir Feroz Shamsi () and Nawaz Ahmad
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Babar Ansari: M.phill Scholar at Institute of Business Management-IOBM
Kanwal Gul: M.phill Scholar at Institute of Business Management-IOBM
Aamir Feroz Shamsi: Professor PAF-KIET

IBT Journal of Business Studies (JBS), 2017, vol. 13, issue 2, 72-93

Abstract: This research is an attempt to examine the reasons behind un banking in under developing economy particularly in Pakistan.For this purpose, qualitative approach called summative content analysis approach is used 36 interview with banked and unbanked poplace are incorporated.The study finds that lack of education, trust on bank/banker, volatile situation in city/country, accessibility/convenience, infrastructure, interest rate in terms of religious exclusion and financial benefits, high cost associated with opening and maintaining an account, lack of facility of online payment via debit card/ATM, lack of money, unemployment, government regulations, branch banking, convenience and some other factors are the general reasons for unbanking in Pakistan.However, the study concludes that main factors convenience, cost and security are the major reasons for unbanking in Pakistan. After concluding this research authors suggested financial institutions should increase number of access points/centres.Give more authorisations to financial centres, and Promote financial awareness

Keywords: Summative Content Analysis; Unbanked; Security; poverty; financialinstitution; Cost. (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:aib:ibtjbs:v:13:y:2017:i:2:p:72-93

DOI: 10.46745/ilma.ibtjbs.2017.132.7

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