Of the 5 billion adults in the world, staggeringly, only half have a bank account.
This is one of the huge findings from a global poll by the World Bank and Gallup, funded by the Gates Foundation. The report, by World Bank economists Asli Demirguc-Kunt and Leora Klapper, is brilliant.
This big finding means that 2.5 billion people are “unbanked,” therefore not participating in modern economic life. Advanced countries can feed them, clothe them, rush them medicine, school them — but those people will never experience sustainable human development until they’re integrated into the global channels of buying and selling. Simply put, they need access to money and credit, and they need to have a bank account.
Read the complete and compelling story below.