Bank the Un-Banked

Strange as it may sound that there are many people in the Middle-East and North Africa region who are un-banked. According to the global fintech , 1.7 billion adults world wide are unbanked, which means they do not participate in any any primary financial product or service. According to banking services it is a critical parameter and a crucial enabler in reducing extreme poverty and boosting shared prosperity. If the banking system has failed the under privilege, at least so far technology has come to the rescue. Financial technology, more popularly referred to these as fintech, has been bringing significant value to the unbanked. and underbanked. Their solutions mostly transcend regional limitations, enable trust, and enhance efficiency. So for an agriculture worker, a wallet apps service would facilitate wage management.

An un-banked population can leave adverse fallouts in society. Besides not having easy access to financial institutions. No access to these essential services compels them to use cash and other equivalent to carry out their daily essentials. The lack of financial inclusions has a tangible impact on economic growth. Technology may not have all the answers, but it can do wonders if it develops a gender-intelligent approach over and above traditional neutral products.

Cash In Hand Is King

People often say why keep idle money if it doesn’t work or do any good for others, ultimately the truth is idle money or cash in hand is worth than no money at all. The root cause for any financial instability is not just you have not made the right investment choices but also for the fact that lack of liquidity is the main reason many individuals or business struggle. Whenever you have cash to plan for any unplanned situations that’s when your metal is actually tested. Investments are always subject to market risk factors but Cash In Hand is never under any risk unless you decide to spend it unwisely.

With Cash In Hand you are always flexible and open to any risk or will be able to survive any recessions that comes your way and those savings plan plays a major roles for the rest of your life. When you have cash available immediately this will in turn help you to solve your immediate problems rather than drag you to hell. The other good side of Cash In Hand is having psychological peace of mind. It may hurt when your investments fall but with Cash In Hand you are always at Peace with yourself and once you are at peace with your body. This help you run a long mile and reach your life’s goals.