Financial inclusion is an essential component of social inclusion, since it leads to a more efficient management of personal finances, and gives people conditions to manage a family budget better, use of payment means more efficiently, make savings using adequate products and be safer when applying for a loan.
In fact, one must not forget that financial inclusion also helps fight inequality, a paramount issue in today’s economies. Mario Draghi, President of the European Central Bank, underlined a few days ago when he met with students at a university in Lisbon that inequality is a highly destabilising phenomenon for all areas of society, including financial stability.