The potential of the financial sector to contribute meaningfully to economic growth and social progression of any economy depends on the full participation of individuals and firms in that sector. It is for this reason that a number of initiatives have been introduced in our financial sector to ensure access to financial services and products. 11.
The ultimate aim of such interventions are to enhance access to banking and financial services for the previously excluded members of our society. High fees and charges contributes to the exclusion of the majority of the society from participating 5  in the formal financial system.