Financial inclusion and its determinants

Financial inclusion is a powerful weapon for eliminating poverty and enhancing the general welfare of the people, resulting in shared prosperity. Financial inclusion is critical because it addresses the problem of financial exclusion, which affects roughly 1.7 billion working-age people around the world. Financial inclusion is a key component of poverty reduction and economic progress, with digital financial services being essential for participation in the new digital economy. Financial inclusion issues have gained more attention around the world. Financial inclusion is a critical socioeconomic issue that requires international institutions, governments, central banks, financial institutions, researchers, and policymakers to take into account (World Bank, 2017).