Search results for "consumer vulnerability"
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ROSCAs Role in Facilitating Control to the Unbanked : Evidence from Pakistan
2017
This study investigated the role of Rotating savings and credit association ''ROSCA'' in allowing unbanked consumers to control and manage their routine financial matters and assessed the consequences of the Committee (i.e.ROSCA) system for unbanked consumers in the Pakistani context. Qualitative data were gathered from low-income unbanked consumers through semi-structured interviews. The study finds that the institutional culture and rules of Committees offer unbanked participants control over their everyday financial affairs and generally provide the unbanked an opportunity to address their vulnerability. However, Committees lack legally binding contracts and thus the possibility of fraud…
Vulnerability of the unbanked : evidence from a developing country
2016
Financial exclusion is an apparent phenomenon globally, the majority of people without bank accounts living in the developing countries. Those who lack access to financial services could experience vulnerability. Therefore, the purpose of this study was to unfold the vulnerability of the low-income unbanked consumers in a Pakistani context. Qualitative data were gathered from low-income unbanked consumers through in-depth interviews. The findings suggest that unbanked consumers are vulnerable in many ways. The participants faced several negative consequences due to their financial exclusion, which resulted into their personal, economic and social detriment. Based on our study findings, we p…