Access to Financial Services

The Finance Group has conducted an extensive empirical analysis in order to better understand the size and characteristics of those segments of the population in Latin America with limited or no access to financial services. A key objective has been to identify the roles of bank and non-bank financial institutions in the attempt to build more inclusive financial systems. Our analytical findings have informed the Bank’s policy advice to our member countries in support of new legislation on basic accounts, credit cooperatives, correspondent banking and rural finance.

The Finance Group is conducting an in-depth study of major banking markets in the Region focusing on individual products and services for both retail and corporate clients. The main objective is to detect key barriers to competition, regulatory hurdles and market inefficiencies which need to be removed in order to ensure sufficient and affordable access to credit in particular for individuals and SMEs.

The Finance Group is also working to deepen access to regional financial markets. Work in this area includes developing SME financing mechanisms, credit information systems, legal and regulatory reform as well as microfinance initiatives especially in rural areas. Additionally, the Finance Group is analyzing the potential role of remittances in broadening access to financial services. The objective is to define a regulatory environment that could lead to the reduction of the cost of funds transfer toward the countries of the Region.

Publications

Colombia: Derechos de Crédito y Procesos Concursales

(Adolfo Rouillon - May, 2006) - Adobe Acrobat pdf file (0.3 MB)