Podcasts Government Asia's Developing Future Postal savings accounts benefit women, the poor, and rural people the most

Postal savings accounts benefit women, the poor, and rural people the most

Published: July 26, 2017, 6:58 a.m.

b'Putting savings to work is crucial for Asia\\u2019s developing economies. In developing Asia, however, access to credit, savings and payment services remains limited. In 2014, only 36 percent of adults in East Asia and the Pacific had formal savings accounts and only 11 percent had access to formal credit.\\n\\nWith more than 600,000 branches worldwide, post offices provide an alternative to rural people to access services that traditional financial institutions cannot provide. So developing postal savings may be good for increasing financial inclusion, reducing poverty and achieving higher economic growth.\\n\\nRead the transcript\\nhttp://bit.ly/2uYep6O\\n\\nRead the policy brief\\nhttps://www.adb.org/publications/innovating-financial-inclusion-postal-savings-system-revisited \\n\\nAuthors\\nAladdin Rillo, ADBI senior economist https://www.adb.org/adbi/about/staff-profiles/aladdin-rillo\\nJeffrey Miyamoto, former ADBI research associate'