Paper Title
Problems Facing the Establishment of Banks In Rural Areas of Lundazi District of Eastern Zambia.
Article Identifiers
: Keywords
FISF:Financial Inclusion Support Frame work (World Bank) MNO:Mobile Network Operator P2G: Person-to-Government G2P: Government-to-person RFPS: Rural Finance Policy and Strategy
Abstract
Banks play a very important role in the economic development of the country and banking system is called as the backbone of the economy. In spite of the rural population being 60% of the Zambia’s productive population, banks in the rural Zambia are not operating in them, sitting their own reasons for doing so. This paper focuses on the reasons faced by commercial banks for not operating in rural areas of Lundazi District. This research paper is based on primary and secondary data. Sample of 100 respondents were studied in rural areas of Lundazi District. This paper revealed some reasons why commercial banks shun operating in the rural parts of Lundazi District such as: network platforms for digital financial services in the country, which limits uptake. However, the most widely cited reason for not using digital financial services in the country is related to knowledge about how to use the services. Other challenges include, but are not limited to, the cost of using the services, little confidence in the security and privacy of the systems, low transaction thresholds, inadequacies in the product design, and a general preference for using cash as opposed to digital payments.
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How To Cite (APA)
Mr. Follence Chilonge & Dr .S. Thandayuthapani (October-2022). Problems Facing the Establishment of Banks In Rural Areas of Lundazi District of Eastern Zambia.. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 7(10), 932-942. https://ijnrd.org/papers/IJNRD2210112.pdf
Issue
Volume 7 Issue 10, October-2022
Pages : 932-942
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Paper Reg. ID: IJNRD_183493
Published Paper Id: IJNRD2210112
Downloads: 000122014
Research Area: Engineering
Author Type: Foreign Author
Country: -, -, Zambia
Published Paper PDF: https://ijnrd.org/papers/IJNRD2210112.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2210112
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