DOI: https://doi.org/10.18371/fcaptp.v1i28.163929

FINANCIAL INCLUSION AS AN INDICATOR OF MANAGEMENT OF BANK COMPONENT OF THE STATE FINANCIAL SECURITY

Z. B. Zhyvko, N. V. Zachosova

Abstract


It is established that financial inclusion is an instrument that is capable of transforming savings into investment and, therefore, it can be an effective tool for raising the level of financial sovereignty of the state and stabilizing its financial security. The necessity of updating methodological approaches to assessing the financial security at the macro level was substantiated by supplementing the list of indicators of the state of the banking component of the financial security system of Ukraine by the indicator of financial inclusiveness in the banking sector. The definition of financial inclusion in the sphere of banking services and of management of bank security is offered. It is found out that World Bank analytical materials are currently the only relevant source of information about the level of financial inclusion in different countries of the world, and in national economies internal experts do not assess the level of financial inclusion. Taking into account this circumstance, it is suggested, using the information of domestic statistics, to formulate judgments on the state of financial inclusion in the sphere of banking services by indicators that characterize the level of use different types of banking operations by population and business structures. An analysis was made and a critical comment on the financial inclusion of Ukrainians to the banking services segment as of the beginning of 2018 was provided. It has been established that in Ukraine the level of financial inclusion in the last few years is lower than the value that is inherent for its global indicator. Assumptions regarding availability of reserves in the financial system of Ukraine for the growth of the level of financial inclusion in the future are made. Based on a retrospective analysis of financial results and key performance indicators of banks in Ukraine, the need to take measures to increase the level of financial inclusiveness of the population and business entities based on the growth of their interest in the use of banking products and services has been substantiated. The possibilities of using the indicator of financial inclusion level as an indicator of the state of the banking component of the state financial security management are revealed.

Keywords


economic security; financial security; financial market; financial institutions; bank; insurance company; financial company.

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References


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GOST Style Citations


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Copyright (c) 2019 Z. B. Zhyvko, N. V. Zachosova

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ISSN (print) 2306-4994, ISSN (on-line) 2310-8770