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PurposeThis paper investigates the magnitude of financial inclusion in terms of ownership and usage of financial products across gender in Saudi Arabia based on the World Bank's Global Financial Inclusion (GFI) survey data.Design/methodology/approachThis study derives the data from the GFI survey, covering 1,009 respondents from Saudi Arabia. The data on ownership and usage of financial products along with demographic characteristics of the surveyed respondents have been extracted for the analysis. The data have been analyzed with the help of statistical techniques, such as the chi-square test, and marginal effects for identifying the factors affecting financial inclusion across gender.FindingsThere is a significant association between financial inclusion and gender in terms of ownership and usage. About 82% of males have reported having a bank account with financial institutions, whereas only 60% females have reported ownership of a bank account in Saudi Arabia. The ownership and usage of financial products are comparatively more among males than females. The analysis of the marginal effect of gender shows a significant and positive impact on financial inclusion, implying that males are 10 and 13% more likely to own and use financial products, respectively, as compared to females. Further, marginal effect estimates for ownership and usage for males and females indicate that a set of independent variables related to age, level of education, occupation and income level of the respondents have a significant impact on financial inclusion.Practical implicationsFinancial inclusion across gender is the first step of creating an inclusive society and empowering both males and females equally. Findings indicated an inclination of financial inclusion towards males. The research findings provide key policy insights for achieving the Vision 2030 of Saudi Arabia by strengthening gender inclusion in its growth story and ensuring the participation of females at workplaces.Originality/valueMost of the studies have included bank account ownership in a financial institution as an indicator of financial inclusion. The authors have included ownership and usage of a variety of financial products for assessing the determinants of financial inclusion across gender, which provides empirical evidence on the magnitude of financial inclusion.

\"Oil, Dollars, Debt, and Crises studies the causes of the current oil and global financial crisis and shows how America's and the world's growing dependence on oil has created a repeating pattern of banking, currency, and energy-price crises. Unlike other books on the current financial crisis, which have focused on U.S. indebtedness and American trade and economic policy, Oil, Dollars, Debt, and Crises shows the reader a more complex picture in which transfers of wealth to and from the Middle East result in a perfect storm of global asset and financial market bubbles, increased unrest, terrorism and geopolitical conflicts, and eventually rising costs for energy. Only by addressing long-term energy policy challenges in the West, economic development challenges in the Middle East, and the investment horizons of financial market players can policy makers ameliorate the forces that have been causing repeating global economic crises\"--Provided by publisher.

'Catastrophe Risk Financing in Developing Countries' provides a detailed analysis of the imperfections and inefficiencies that impede the emergence of competitive catastrophe risk markets in developing countries. The book demonstrates how donors and international financial institutions can assist governments in middle- and low-income countries in promoting effective and affordable catastrophe risk financing solutions. The authors present guiding principles on how and when governments, with assistance from donors and international financial institutions, should intervene in catastrophe insurance markets. They also identify key activities to be undertaken by donors and institutions that would allow middle- and low-income countries to develop competitive and cost-effective catastrophe risk financing strategies at both the macro (government) and micro (household) levels. These principles and activities are expected to inform good practices and ensure desirable results in catastrophe insurance projects. 'Catastrophe Risk Financing in Developing Countries' offers valuable advice and guidelines to policy makers and insurance practitioners involved in the development of catastrophe insurance programs in developing countries.

PurposeThe financial industry offers a unique setting to study innovations. Financial innovations have fueled the growth of economies, markets and societies. The financial industry has successfully become the breeding ground for innovative services, processes, business models and technologies. This study seeks to provide a holistic view of the literature on financial innovations, synthesize the research findings and offer future directions for research in light of three market developments that are disrupting the industry and opening up a new era for the financial services industry. Disruptions from within and outside the industry offer new generations of radically innovative services. Moreover, new generations of consumers differ from previous generations in their needs and wants and look for innovative ways to handle their financial needs. Finally, significant developments related to financial innovations have emerged in Asia and developing countries.Design/methodology/approachThis study systematically reviews the academic research literature on financial innovations in two phases. The first phase provides a quantitative review of 546 journal articles published between 1990 and 2018. In the second phase, the study synthesizes the extant research on financial innovations and maps them in five research areas: firms' introduction and adoption of FIs, financial innovation development, the outcomes of financial innovations, regulations and intellectual property, and consumers.FindingsThe analysis found that disciplines differ with regard to the employed research methodologies, the units of analysis, sources of data and the innovations they examined. A positive trend in the number of published articles during this period is observed. However, studies have primarily focused on the USA and Europe and less so on other parts of the world. The literature synthesis further identifies research gaps in the available research that highlight future research opportunities in light of the three market disruptions. The financial services industry is on the brink of a new era due to disruptions from within and outside the industry and the entrance of new generations of consumers. Moreover, the financial industry has successfully become the breeding ground for innovative services, processes and business models. Therefore, financial innovations offer promising opportunities for bridging the gap between research on product and service innovations.Research limitations/implicationsThe work provides a holistic and systematic overview of extant research on financial innovations and highlights future research opportunities in light of the three disruptive market developments. It helps researchers take advantage of the opportunities in studying financial innovations while maintaining industry relevance.Originality/valueThe study is the first to review and synthesize the academic research literature on financial innovations across marketing, finance and innovation disciplines. In addition, the study highlights three primary disruptive forces in the financial industry and identifies future research directions in light of these disruptive forces.

South African households don't save enough to ensure financial freedom after retirement. This article poses the following question: do life stages have a significant impact on the financial products used by households? The question is asked in order to identify possible interventions that could increase financial freedom. This study found that life stages have a significant impact on South African households' selection of financial products. The use of financial products for each of the levels of the financial product usage hierarchy increases as the age of the household head increases and when the size of the family increases, the only exception being single-parent families. The study indicated that financial literacy programmes should focus on young couples and young families, as there is a notable increase in their financial product usage. The study also found a very low usage of wealth management products by South African households and suggests that policymakers consider the introduction of an incentive to increase household's usage of these products.

At present, measure analysis on large and medium-sized project feasibility study, the evaluation conclusion to the relevant decision-making body as project standard, slowly become one of the key processes of the antecedent work of basic financial development, China's financial gas companies had made it clear: in view of the various financial services, all need relevant scholars to maximize the technical feasibility of the study and technical and economic argumentation, absorb relevant departments advice at the same time, put an end to be hasty blindly, and formulated the \"six decision-making procedures\" and \"four principles\". However, in the early stage of financial management, some financial units and companies will not fully understand the evaluation value and function of this work, so they will discuss the feasibility study report.

The following skills, such as planning of personal finances, formation and diversification of savings, augmentations of personal capital, and open-mindedness to new initiatives in the entrepreneurship activities, enhance the financial sustainability of the population, and are decisive for their life quality. Every person in certain circumstances can be financially and economically active, if s/he has got such competence as financial literacy which is much more important in the course of life than the level of income or professional qualifications, because, hereafter the governing factor will be not the possession of financial instruments by the person, but skills of effective management for the achievement of one’s own objectives.Knowledge of financial matters at a young age makes administration of finances much easier when becoming adult, getting education, or joining the labor market. At the same time the necessity of improving the financial literacy among young people and educating schoolchildren is more and more discussed. Taking into consideration the fact that young individuals are a significant factor for the development of national economy, substantial improvement of young people’s financial literacy is essential. Young people with a high level of financial literacy would be those who could give greater contribution to state economy, so it is important to research the level of financial literacy among young people. The objective of the present research is to analyze the financial literacy of young people in Daugavpils. Methods used in the research: monographic method – theoretical description of financial literacy, graphical method – graphical representation of obtained results, interview method (questionnaire) – data acquisition required for the research, statistical method – analysis of statistical information, comparative method – description of the obtained data and drawing conclusions. The financial literacy of Daugavpils youth has been researched and evaluated. The results of the questionnaires show that more than half of respondents have given good estimates of their financial literacy; however, at the same time research results prove that the overall level of financial literacy is not sufficiently high.

The purpose of this study is to analyse the extant literature on sustainable financial products (SFP) with a comprehensive understanding of the status quo and research trends as well as characterise the existing SFP in the Latin America banking industry. In this way, research papers derived from Scopus as well as institutional reports such as main documents, sustainability reports, and product portfolios publicly available on webpages from public, private, and development banks are used to create a database of SFP where their main characteristics are included and classified. Based on the research trends identified, the results show the development of financial products focused on environmental, social, and government (ESG) matters, mainly from the credit side, of more sustainable financial markets and products under fintech ecosystems. The results show that because of regulatory and government support through mechanisms such as green protocols and social and environmental responsibility policies, private financial institutions of Brazil, Colombia, and Argentina have led the development of both social and green financial products. These study’s findings may be used for several policymakers to broaden the opportunities available in sustainable financing and thus, provide a roadmap that researchers and practicing professionals can use to improve their understanding of SFP. Finally, the study presents the potential for further research in the field, both with a qualitative and a quantitative approach.

Artificial intelligence is changing the world in unprecedented ways and redefining all areas of human activity. In recent decades, the development of AI has progressed at an extraordinary pace. This study examines the scope of implementing AI in the financial sector, insurance, and financial controlling. The research team focuses on these areas, as the main objective of this review is to provide a comprehensive walk-through and to fill the gaps in the literature related to AI implementation in finance, insurance, and financial control from an economic perspective. We provide a comprehensive overview of AI implementation in finance, insurance, and financial controlling, highlighting crucial issues in that process and identifying the relationship between the development of these economic sectors and AI. The authors’ team identifies the trends and main themes in the existing literature in AI-related publications in finance, insurance, and financial control. We discuss the main advantages and disadvantages of AI implementation, identified by our research, and also make some suggestions regarding future research having in mind the interdisciplinary of the topic, the vast development of AI and technologies, and the increasing demand for AI-based solutions, services and products.