Size of informal economy biggest challenge to financial inclusion -El Said

The size of the informal economy is the biggest challenge to financial inclusion, Planning Minister Hala El Said told Al Borsa. There is no complete information and participants in the parallel market are wary of being involved in the formal economy, she added. El Said aims to limit the usage of cash and looks at expanding mobile banking as a means to promote financial inclusion, which we predicted will be the government’s buzzword throughout 2017, and integrating the informal economy into the formal one.