Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/190297 
Year of Publication: 
2018
Series/Report no.: 
ADBI Working Paper No. 876
Publisher: 
Asian Development Bank Institute (ADBI), Tokyo
Abstract: 
This paper examines the current situation concerning financial inclusion and financial literacy in Kazakhstan and future prospects. Since 2000, the financial sector has been developing rapidly, driven by petrodollars, which has led to higher financial inclusion. However, the improvement in financial inclusion has not been distributed evenly, most notably between urban and rural populations. Moreover, financial literacy levels have not caught up with the development of financial services and this has led to insolvencies and banking crises. Since gaining independence in 1991, Kazakhstan has not had any systematic and wide-scale financial inclusion strategy or policy. This paper discusses key barriers to financial inclusion and suggests possible ways of overcoming these that could become the basis for a national financial inclusion strategy.
Subjects: 
financial inclusion
financial institutions
government policy and regulation
economic development
financial markets
saving and capital investment
financial literacy
personal savings
Kazakhstan
JEL: 
G2
G21
G28
O16
A2
D14
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper

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