Financial inclusion washing

Peterson Ozili

Journal of Financial Crime, 2022, vol. 30, issue 5, 1140-1149

Abstract: Purpose - Financial inclusion washing has not been considered to be a crime although it should be. This paper aims to present a discussion about financial inclusion washing. It was argued that financial inclusion washing is the deliberate or unintentional use of exaggerated claims or misleading claims to describe an entity’s commitment to increase the level of financial inclusion. Design/methodology/approach - This paper used the conceptual discourse analysis methodology. Findings - This paper showed that many entities are at risk of practicing financial inclusion washing such as international development organizations, aid organizations, government agencies, central banks, financial institutions, financial inclusion support groups and associations, among others. This paper also highlighted the manifestations, motivations and consequences of financial inclusion washing. This paper also identified ways through which entities can avoid financial inclusion washing. Originality/value - The literature has not examined how exaggerated claims about financial inclusion efforts mislead people.

Keywords: Financial inclusion washing; Financial inclusion; Formal accounts; Banked adults; Access to finance; Exaggerated claims; Crime (search for similar items in EconPapers)
Date: 2022
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Working Paper: Financial inclusion washing (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:jfc-07-2022-0159

DOI: 10.1108/JFC-07-2022-0159

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