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Financial Inclusion in Sri Lanka: Current Status and Issues

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Financial Inclusion in Asia

Part of the book series: Palgrave Studies in Impact Finance ((SIF))

Abstract

Financial inclusion has been increasingly recognized as an important tool for alleviating poverty, improving household welfare, and promoting business activities. Yet, nearly 40 % of the adults (15 years and above) in the world do not have an account in a financial institution (World Bank 2015). In Sri Lanka, currently supports a large number of financial institutions (FIs), both formal and semiformal, providing a range of different financial services such as loans, savings, leasing and finance, and pawning facilities to its population. There is also evidence of high access to and use of financial services across income groups.

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Notes

  1. 1.

    These include around 8000 TCCSs, more than 1000 Samurdhi societies and all the co-operatives, NGOs, banks, and societies providing financial services in the country.

  2. 2.

    GN Division is the lowest administrative unit in Sri Lanka generally comprised of 3–5 villages.

  3. 3.

    The first round of the survey (2006/07) was drawn from a national-level household survey conducted by the Institute of Policy Studies of Sri Lanka under a study on ‘Outreach of Financial Services in Sri Lanka’, funded by the German Technical Corporation (GTZ)/ProMiS. The second round of the survey was carried out in 2009–2010 by the author. See Tilakaratna (2012) for further details.

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Author information

Authors and Affiliations

  1. Institute of Policy Studies, Colombo, Sri Lanka

    Ganga Tilakaratna

Authors
  1. Ganga Tilakaratna
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Corresponding author

Correspondence to Ganga Tilakaratna .

Editor information

Editors and Affiliations

  1. National University of Singapore, Singapore, Singapore

    Sasidaran Gopalan

  2. National University of Singapore, Singapore, Singapore

    Tomoo Kikuchi

Copyright information

© 2016 The Author(s)

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Cite this chapter

Tilakaratna, G. (2016). Financial Inclusion in Sri Lanka: Current Status and Issues. In: Gopalan, S., Kikuchi, T. (eds) Financial Inclusion in Asia. Palgrave Studies in Impact Finance. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-58337-6_6

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  • DOI: https://doi.org/10.1057/978-1-137-58337-6_6

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  • Publisher Name: Palgrave Macmillan, London

  • Print ISBN: 978-1-137-58336-9

  • Online ISBN: 978-1-137-58337-6

  • eBook Packages: Economics and FinanceEconomics and Finance (R0)

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