Opening the 4th phase of the National Strategy for Inclusion & Financial Education, the central bank Governor said financial inclusion has received global recognition after the financial crisis in 2008 and it has become a main pillar in building comprehensive and balanced development strategies in various countries of the world.
Qatar Central Bank (QCB) Governor HE Sheikh Abdulla bin Saoud Al Thani has reaffirmed the State of Qatar’s commitment to financial inclusion and efforts to introduce financial literacy at an early stage. The twin objectives are part of the QCB’s well-thought-out plan, he said.
The strategy document will approach not only the supply-side such as access to finance, but also from demand-side as promoting financial literacy. The number of bank branches per 100,000 people — a measure of demographic financial inclusion — grew nearly 60% during 2009-16, while geographical financial inclusion (the number of bank branches per 1,000sq km) increased by roughly 10%. The governor said promoting financial inclusions is also one of the main five goals of the Second Strategic Plan (SSP) for Financial Sector Regulation (2017-2022), which was launched last December.