The financial reforms of the 1980s and 1990s which took place on the most economy around the globe is supposed to increase the financial depth and usage of formal financial services such as saving, credit, payment, insurance and other financial related services. Decades after those reforms, the results are still not satisfactory, the access and use of financial services of the deprived sector is significantly low. So, the great challenge in front of the government and other concerned regulatory authorities is to address those constraints that exclude people from full participation in the financial services. Furthermore, as evidence from G20 Pittsburgh summit in 2009 and Alliance for Financial Inclusion’s Maya declaration in 2011, lack of access to formal financial services to a larger percentage of the working-age adult is a global concern. First, let’s try to understand financial inclusion in a generous way.
