Singapore is the world’s most financially inclusive market says a new index research report.
It comes top in the inaugural Global Financial Inclusion Index which reflects the extent of the underbanked problem.
Argentina came bottom of the new index.
Why this is being flagged: Financial inclusion is key to global economic progress. The company behind the index, the Principle Financial Group, believes inclusion is an integral component of a market’s ability to prepare for and recover from adversity, grow sustainably and build a brighter future.
Those behind the index: Principle sponsored and the research was conducted by the Centre for Economics and Business Research. It examines how well a market’s respective government, financial system, and employers provide relevant tools, services, and guidance to enable greater levels of financial inclusion.
The table of top and bottom scorers:
| Top 10 Scoring Markets | Bottom 10 Scoring Markets | ||
| 1 | Singapore (68.9) | 33 | Turkey (36.1) |
| 2 | United States (68.3) | 34 | South Africa (34.1) |
| 3 | Sweden (65.4) | 35 | Brazil (33.9) |
| 4 | Hong Kong (65.1) | 36 | Mexico (33.3) |
| 5 | Finland (64.7) | 37 | Italy (32.8) |
| 6 | Denmark (63.9) | 38 | Peru (32.7) |
| 7 | Australia (63.6) | 39 | Colombia (32.2) |
| 8 | Switzerland (63.4) | 40 | Nigeria (26.9) |
| 9 | Norway (63.1) | 41 | Ghana (22.2) |
| 10 | The Netherlands (59.8) | 42 | Argentina (19.2) |