[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110852-en":3,"doc-seo-110852-105":29,"detail-sidebar-cat-0-en-105":90},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},110852,962075114101,"Seraphina","https://ap-avatar.wpscdn.com/avatar/e000253a75eb197efd?x-image-process=image/resize,m_fixed,w_180,h_180&k=1780044092746381165",8,"Research & Report","Beyond the inclusion - financial health as a new priority for the Arab region - Statement by H.E. Dr.Abdulrahman A.Al-Hamidy","Statement delivered at the 105th Meeting of the Development Committee by H.E. Dr. Abdulrahman A. Al-Hamidy, on behalf of the Arab Monetary Fund. The statement argues that financial inclusion must progress toward financial health to address the financial fragility revealed by COVID-19, enabling individuals and households to manage obligations, build security and resilience, and better withstand economic shocks. It highlights global shifts, the role of measurement and socio-economic factors, and prospects for adopting financial-health agendas in the Arab region.","Public Disclosure Authorized  \nPublic Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committeeof the  \nBoards of Governors of the Bank and the Fundon theTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND FIFTHMEETINGWASHINGTON,DC-April 22,2022  \nStatement by  \nH.E Dr.Abdulrahman A.Al-HamidyDirector General Chairman of the Board  \nArab Monetary Fund  \nDC/S/2022-0001  \nApril 22,2022  \n# صندوق النقد العربيARAB MONETARY FUND\n\nStatement by  \nH.E.Dr.Abdulrahman A.Al-HamidyDirector General Chairman of the BoardArab Monetary Fund  \n105hMeeting of the Development Committee  \nApril 22,2022  \nWashington,DC  \n“Beyond the inclusion,financial health as a new priority for the Arab region”  \nIt gives me a great pleasure to join online from Abu Dhabi this meeting of the Development Committee inmy capacity as an observer member and,on behalf of the Arab Monetary Fund(AMF),I would like tothank the World Bank for the kind invitation.I would also like to commend the valuable effort in conveningthis important gathering which is being a vital platform to discuss ways and means to respond to and managethe evolving challenges we face.Considering the multidimensional perspectives of these challenges,westill believe in the merit of making financial inclusion work for all,however,to improve the ability ofpeopleto cope with unforeseen challenges,a much more comprehensive approach coupled with a set of policies,beyond access to financial services,is a key to address the Sustainable development Goals (SDGs).  \nToday we all know that significant progress has been made over the past two decades to advance financialinclusion for the world's most vulnerable people.Since 2011,1.2 billion people worldwide have openedfinancial accounts.Now most governments have set their own financial inclusion plans and strategies,andare making government payments through digital financial infrastructure.We have seen also that youngpeople,women,and other traditionally marginalized groups are accessing and using more regularly thanbefore financial products and services.  \nHowever,the COVID-19 pandemic has deeply exposed the financial fragility of large segments of theworld's population,which in return,revealed the vulnerabilities of our economic and social schemes.Allover the world,people,especially those in low-and middle-income countries,are losing their jobs andseeing the value of their income and assets diminish.In fact,at the beginning of the crisis,most of thepopulation across the world was inadequately prepared to withstand a prolonged income shock.A coupleof recently released studies have been outlining that a significant number of adults in several low-andmiddle-income countries were unable to meet their basic short-term needs by using only their savings orby selling their assets in case of loss of their income.  \nIn light of these vulnerabilities,an approach that advances the well-being of individuals and householdsand reduce their fragility is needed.The emerging topic of financial health,a comprehensive approach thataims to understand,measure,and ultimately improve the specific aspect of well-being associated with thefinancial lives of people,would be the right next policy agenda.  \n# Financial health,a normal forward step to financial inclusion\n\nOver recent years,we have been observing a shift from financial inclusion to financial health,due to theinherent insufficiencies of financial inclusion in reducing poverty and boosting wellbeing,particularly ofthe excluded and vulnerable segments.Furthermore,Covid-19 crisis has demonstrated that financialinclusion alone cannot ensure financially resilient communities and some of them are experiencing a dropin living standards and are still unable to rebound from the negative economic shocks of the crisis.Inpractice,we have seen disconnection between financially included and better financial life of an individualand a number of communities.Digital financial services are certainly driving t","cbCaino3dNy1ArJr","https://ap.wps.com/l/cbCaino3dNy1ArJr","pdf",1008671,1,4,"English","en",105,"# Statement by H.E. Dr.Abdulrahman A.Al-Hamidy\n## Financial health as the next step beyond financial inclusion\n## Global practices and prospects in the Arab region","[{\"question\":\"Why does the statement move from financial inclusion to financial health?\",\"answer\":\"It argues that inclusion alone has limitations in reducing poverty and improving wellbeing, and COVID-19 showed many financially fragile groups still struggled to rebound after shocks.\"},{\"question\":\"How is financial health defined in the statement?\",\"answer\":\"Financial health is described as the extent to which a person or family can manage current financial obligations smoothly and have confidence in their financial future.\"},{\"question\":\"What factors does the statement say shape financial health outcomes?\",\"answer\":\"It emphasizes broader socio-economic factors such as gender, social norms, and individual capabilities, in addition to whether people are financially 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does the statement move from financial inclusion to financial health?","Question",{"text":74,"@type":75},"It argues that inclusion alone has limitations in reducing poverty and improving wellbeing, and COVID-19 showed many financially fragile groups still struggled to rebound after shocks.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"How is financial health defined in the statement?",{"text":79,"@type":75},"Financial health is described as the extent to which a person or family can manage current financial obligations smoothly and have confidence in their financial future.",{"name":81,"@type":72,"acceptedAnswer":82},"What factors does the statement say shape financial health outcomes?",{"text":83,"@type":75},"It emphasizes broader socio-economic factors such as gender, social norms, and individual capabilities, in addition to whether people are financially 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