End Notes & Bibliography

Endnotes

UNDESA, Financial Inclusion of Youth, 2019.

The survey received 1,444 responses. Of those, 174 were over 35 years old. ‘Young person’, for the purposes of this study, is defined as under 35 years old. As much as possible, we wanted to capture the realities of young people. Although the standard definition used by the UN is under 25 years, a number of countries define in law that a person is not an adult until 30 or 35 in some cases (Alliance for Financial Inclusion. 2021. p.6).

United Nations Department of Economic and Social Affairs UNDESA. 2019. Financial Inclusion of Youth.

United Nations Population Fund UNFPA. Demographic Dividend. https://www.unfpa.org/demographic-dividend accessed 10-05-22.

Barford, A., Coombe, R. and Proefke, R. 2021. Against the Odds: Young People’s High Aspirations and Societal Contributions amid a Decent Work Shortage. Geoforum, 121, 162–172.
Sykes, J. et al. 2016. Exploring the Linkages between Youth Financial Inclusion and Job Creation: Evidence from the ILO School-to-Work Transition Surveys. ILO.

Standard Chartered. 2021. Unleashing the potential of young people: What do young people have to say about their future of work and skills?

Sykes, J. et al. 2016. Exploring the Linkages between Youth Financial Inclusion and Job Creation: Evidence from the ILO School-to-Work Transition Surveys. ILO.

Department for International Development and Deutsche Gesellschaft für Internationale Zusammenarbeit. 2013. Promoting Women’s Financial Inclusion: A Toolkit.
Alliance for Financial Inclusion. 2021. Youth Financial Inclusion Policy Framework.

Findex data are next due out in 2022 and can be disaggregated by researchers wanting to explore the financial inclusion of young people.

Barford, A., Coombe, R., and Proefke, R. 2020. Youth Experiences of the Decent Work Deficit. Geography, 105, 60–68.

O’Higgins, N. 2017. Rising to the Youth Employment Challenge. ILO.

Barford, A., Coombe, R. and Proefke, R. 2021. Against the Odds: Young People’s High Aspirations and Societal Contributions amid a Decent Work Shortage. Geoforum, 121, 162–72.

GSMA. 2021. Connected Women. The Mobile Gender Gap Report 2021, 65

Horton, S. et al. 2020. Unlocking Finance for Youth Entrepreneurs: Evidence from a Global Stocktaking. The World Bank Group, 1–122, p. 15.

United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development. 2021. Financial Health: An Introduction for Financial Sector Policymakers. UNSGSA Financial Health Working Group, p. 9.

Acton, P. and Tiedemann, F. 2022. Savings-Led Digital Finance: The Dawn of a New Era? Next Billion. Retrieved June 2, 2022.

Horton, S. et al. 2020. Unlocking Finance for Youth Entrepreneurs: Evidence from a Global Stocktaking. The World Bank Group, 1–122, p. 11.

Anderson, J., Hopkins, D. and Valenzuela, M. 2019. The Role of Financial Services in Youth Education and Employment. CGAP, 1–32.

The World Bank Group. 2022. ID4D Data: Global Identification Challenge by the Numbers.

Alliance for Financial Inclusion. 2021. Youth Financial Inclusion Policy Framework.

Anderson, J., Hopkins, D. and Valenzuela, M. 2019. The Role of Financial Services in Youth Education and Employment. CGAP, 1–32.

Department for International Development and Deutsche Gesellschaft für Internationale Zusammenarbeit. 2013. Promoting Women’s Financial Inclusion: A Toolkit

Alliance for Financial Inclusion. 2021. Youth Financial Inclusion Policy Framework.

Horton, S. et al. 2020. Unlocking Finance for Youth Entrepreneurs: Evidence from a Global Stocktaking. The World Bank Group, 1–122, p. 11.

Idem, p. 14–15.

Idem, p. 19.

Abdelrahman Elzahi Saaid Ali, Empowering the Poor through Financial and Social Inclusion in Africa: An Islamic Perspective, Palgrave MacMillan (2022), https://doi.org/10.1007/978-3-031-00925-9

IFC. 2021. Sourcing2Equal Kenya: Barriers and Approaches to Increase Access to Markets for Women-Owned Businesses.

IFC. 2021. Sourcing2Equal Global Program: Empowering Women Entrepreneurs through Harnessing Procurement Opportunities.

Horton, S. et al. 2020. Unlocking Finance for Youth Entrepreneurs: Evidence from a Global Stocktaking. The World Bank Group, 1–122, p. 19.

Elder, S. and Ameratunga Kring, S. 2016. Young and Female - A Double Strike, 14–37.

Demirguc-Kunt, A., et al. 2018. Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution.

Alliance for Financial Inclusion. 2021. Youth Financial Inclusion Policy Framework, p. 14 .

The World Bank Group. 2021. Women, Business and the Law 2021.
Daniels, N. 2014. Women’s Financial Inclusion in Africa: Barriers, Cost and Opportunities. BUWA!: A Journal on African Women’s Experiences. Open Society Initiative of Southern Africa (OSISA), p. 35–39.

Manta, A. 2019. Financial Inclusion and Gender Barriers for Rural Women. International Journal of Management, 10, 61–72

The World Bank Group. 2021. Women, Business and the Law 2021.

Ibid., p. 5.

GSMA. 2021. Connected Women. The Mobile Gender Gap Report 2021, 65 https://www.gsma.com/r/wp-content/uploads/2021/07/The-Mobile-Gender-Gap-Report-2021.pdf

The World Bank Group. 2022. ID4D Data: Global Identification Challenge by the Numbers. Accessed 10-05-22

Appaya, S. and Varghese, M. 2019. Digital ID–A Critical Enabler for Financial Inclusion. World Bank.

IFC. 2021. IFC Banking on Women: Lower NPLs for Women-Owned SMEs, Business Case Update 4.

Morsy, H. 2020. Access to Finance: Why Aren’t Women Leaning in? Finance & Development, 57(1), p. 52–53

Daniels, N. 2014. Women’s Financial Inclusion in Africa: Barriers, Cost and Opportunities. BUWA!: A Journal on African Women’s Experiences. Open Society Initiative of Southern Africa (OSISA), p. 35–39.

Women’s World Banking. 2021. The Power of Jan Dhan: Making Finance Work for Women in India, p. 7.

Ibid., p. 53.

Ibid., p. 8.

Ibid., p. 7.

Ibid., p. 29.

Ibid., p. 7.

Ibid., p. 6.

Ibid., p. 25.

OECD. 2013. OECD/INFE Policy Guidance on Addressing Women’s and Girls’ Needs for Financial Awareness and Education. Women and Financial Education: Policy Responses and Guidance, OECD.

Department for International Development and Deutsche Gesellschaft für Internationale Zusammenarbeit. 2013. Promoting Women’s Financial Inclusion: A Toolkit, p. 32.

ILO. 2006. Famos Check Guide and Methods. Female and Male Operated Small Enterprises: A Gender-Based Service Quality Check for Supporting Small Enterprises.

Elder, S. and Ameratunga Kring, S. 2016. Young and Female - A Double Strike, 14–37.

Center for Financial Inclusion. 2020. Framework for Understanding the Financial Health of MSME Entrepreneurs.

Strugar, M. 2022. Debt Statistics UK Edition. Accessed 06-06-22

Shift Credit Card Processing. 2021. American Debt Statistics. Accessed 06-06-22

Goyal, K. and Kumar, S. 2021. Financial Literacy: A Systematic Review and Bibliometric Analysis, International Journal of Consumer Studies, 45(1), 80–105, p. 81.

Ivestopedia https://www.investopedia.com/terms/f/financial-literacy.asp accessed 07-06-22

Goyal, K. and Kumar, S. 2021. Financial Literacy: A Systematic Review and Bibliometric Analysis, International Journal of Consumer Studies, 45(1), 80–105, p. 95.

Ibid.

Brac UK. Empowering Adolescent Girls; BRAC ELA accessed 15-06-22.

Goyal, K. and Kumar, S. 2021. Financial Literacy: A Systematic Review and Bibliometric Analysis, International Journal of Consumer Studies, 45(1), 80–105, p. 91.

Ibid.

ILO. Financial Education.

ILO. Soft Skills and Financial Education: Benefits for Job Seekers.

Barford, A., Coombe, R. and Proefke, R. 2021. Against the Odds: Young People’s High Aspirations and Societal Contributions amid a Decent Work Shortage. Geoforum, 121, 162–172.

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STAKEHOLDER INTERVIEWS

Organisation	Name of stakeholders
African Development Bank (AFDB)	Hazem Elwassimy, Head of Private Sector Strategyand Investment Structuring Tapera Jeffrey Muzira, Coordinator, JOBS for YOUTH in AFRICA Strategy Josephine Ndao, Chief Entrepreneurship and SME Development Officer Mariene Esther Dassanou, Senior Program Officer - Women's Insurance
Asian Development Bank (ADB)	Sara Fatima Azfar, Senior Partnership Specialist
CGAP	Antonique Koning, Senior Financial Sector Specialist
GSMA	Ashley Olson Onyango, Head of Financial Inclusion & AgriTech
Hong Kong, University	Douglas Arner, Kerry Holdings Professor in Law International

Organisation	Name of stakeholders
Finance Corporation (IFC)	Heather Mae Kipnis, Senior. Operations Officer - Global Lead, Entrepreneurship and Inclusive Business International
Labour Organization (ILO)	Craig Churchill, Chief, Social Finance Programme International
Rescue Committee (IRC)	Florencia Mastroianni, Corporate Partnerships Executive Kim Behrman, Technical Advisor, Enterprise Development and Employment
IsDBi	Abd Elrahman Elzahi Saaid Ali, Associate Professor and Senior Economist
Lagos Business School	Olayinka David-West, Associate Dean and Professor of Information Systems

Making Cents International	Tim Nourse, President Matthew Breman, Global Director, YEO 2030 Initiative
Microsoft	Tais O'Dwyer, Head of Financial Services Business Strategy,
Mastercard, Center for Inclusive Growth	Payal Dalal, Senior Vice President, Social Impact, International Markets
Primark	Lindsey Block, Head of Partnerships and Capacity Building Ann Sunil, Ethical Trade Manager - Solutions (India and Sri Lanka) Chandara Chor, Ethical Trade Executive, Cambodia Jessie Date-Ampofo, Ethical Trade - Social Impact

Organisation

Name of stakeholders

Primark

Emma Lennon, Ethical Trade Coordinator

Kuldeep Chaudhary, Ethical Trade Executive, India

Kyawe Phyo Phyo Aye, Ethical Trade Executive, Myanmar

Lisa Walsh, Senior Ethical Trade Executive

Neelanjana Khan, Country Project Manager, Bangladesh

Wim de Groof, Ethical Trade Team, Project Manager South East Asia

Matthew Davidson, Social Impact Executive, UK

Standard Chartered Bank	Rebecca Licciardi, Head, Digital Partnerships and Digital Transformation Stephen Cheshire, Executive Director, Global Client Solutions Tamara Van Den Ban, Global Head of Customer Solutions, Personal Banking
Solv	Subhashini Parasuraman, Senior Vice President - Brand & Marketing
Unilever	Pheodor Njoroge, Senior Global Sustainability Manager, Functions & Business Innovation
Women’s World Banking	Sonja Kelly, Director of Research and Advocacy Molly Burns, Manager, Development and Strategic Partnerships

Organisation	Name of stakeholders
World Bank	Michael Tarazi, Senior Policy Specialist

Survey partners

Challenges Worldwide

Enactus

FUEL

GCIC

International

Labour Organization (ILO)

Innoventures

International Rescue Committee (IRC)

Mereka

Sightsavers

St James Settlement

Strathmore University

Underprivileged Children's Educational Programs (UCEP)

Volunteer Service Overseas (VSO)

Women Win

Youth Business International (YBI)

Zahn Innovation Centre

21 countries represented in the survey

Indonesia

Turkey

Bangladesh

UAE

Sri Lanka

India

Ghana

Zambia

Hong Kong

Malaysia

Nigeria

Kenya

Sierra Leone

Cameroon

Uganda

China

Azerbaycan

Pakistan

Thailand

Tanzania