Global Fi­nan­cial Woes

Southasia - - EDITOR'S MAIL -

This refers to the ar­ti­cle ti­tled ‘Shap­ing the Fi­nan­cial Fu­ture’. I couldn’t agree more with the writer of this ar­ti­cle. Fi­nan­cial dis­tress and in­sta­bil­ity is an is­sue many so­ci­eties and gov­ern­ments are aware of, yet are un­able (or un­will­ing) to do much about. One has to just switch on the tele­vi­sion to see news re­ports of rep­re­sen­ta­tives of gov­ern­ments and fi­nan­cial in­sti­tu­tions around the world com­ing to­gether to hold grand dis­cus­sions on th­ese and other top­ics, but to no avail. The rich con­tinue to get richer as the poor keep get­ting poorer.

Still, it was re­fresh­ing to read about the pos­i­tive im­pact as a re­sult of cer­tain mea­sures ex­e­cuted by banks and fi­nan­cial in­sti­tu­tions across the na­tion. This in­cludes ‘branch­less bank­ing’, which en­ables cus­tomers to make trans­ac­tions, such as de­posits, pay­ment of bills and wire trans­fers, via their mo­bile phones. Many fi­nan­cial in­sti­tu­tions around the world have rec­og­nized the po­ten­tial of this par­tic­u­lar trend and have, hence, taken steps to cap­i­tal­ize on it in or­der to en­sure that a max­i­mum num­ber of peo­ple are able to gain ac­cess to high qual­ity fi­nan­cial ser­vices. This piece serves as a great point of ref­er­ence for peo­ple in­volved in the fi­nan­cial sec­tor to take note and ul­ti­mately im­ple­ment such mea­sures in or­der to bring about long-term sta­bil­ity. Suhayb Man­sour Beijing, China

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