How can digital financial services effectively support financial inclusion? To answer this question, the World Bank recently collaborated with the Association of Southeast Asian Nations (ASEAN) Working Committee on Financial Inclusion (WC-FINC) on a study titled “.” This study analyzes a wide range of digital financial services (DFS) through a framework based on that of the Payment Aspects of Financial Inclusion (PAFI) .
According to the use of the PAFI framework (see figure below), three foundations must be present to enable the spread of DFS: government and private sector commitment to DFS development, a sound legal and regulatory framework concerning DFS, and an enabling financial and information and communications technology infrastructure. Atop these three foundations stand four catalytic pillars that increase uptake and use of DFS: improving the design of DFS products (and of the regulations that govern them), expanding agent networks and other access points, spreading financial literacy, and shifting large payment streams to flow through digital channels.
Digital lifestyles, cashless societies, app-based businesses, “smart” nations, virtual services – there is a tremendous amount of excitement in Southeast Asia now about the growth of the digital economy.
The region is a hotspot for digital development, and it already leads the world in some indicators, such as Internet and social media use.
The is a technology focused conference that takes place annually in Peshawar, Pakistan. In the lead up to the summit, we bring to you the first of our Speaker Spotlights featuring Zaki Mahomed. The upcoming DYS is on April 27-28, 2018. .
Zaki Mahomed (ZM) is founder & CEO at , a new startup based in San Francisco. Pursuit helps people build the lives of their dreams through easy access to skilled immigration programs. Having lived in Karachi, Singapore, Toronto and San Francisco before turning 30 has given him a global perspective on the art and science of building great companies.
Tell me a little about what you are working on now? How did you get started?
ZM: I recently founded and am the CEO of . We help highly skilled immigrants access global job opportunities with companies that will sponsor their work visas. We want to live in a world where borders are not barriers to opportunities and employers can seamlessly hire perfect candidates from anywhere in the world.
I started Pursuit because I’ve lived and worked in 5 cities over my career. One of the most satisfying experiences of my career has been hiring immigrants who took a risk on my ideas and companies and moved their entire lives to join us. While fraught with risk, I’ve rarely regretted giving an opportunity to an immigrant and always gotten a committed and loyal worker in return. We want to make it easy for other businesses to be able to provide such opportunities to the type of talent they desperately need!
Specifically, through Pursuit, qualified skilled workers can apply for their immigrant visas and upon approval, get matched with vetted employers looking for their skills. Currently we work with Software Engineers and Developers and we primarily operate in Canada, which is our first market.
What do you think is the future for youth in the tech industry?
Pakistan’s Khyber Pakhtunkhwa province, or KP, has not always been recognized as a digital economy. Sharing a border with Afghanistan, the province experienced a period of instability and militancy over several decades that saw outmigration and the decline of private industries. Since then, the province has shown rapid economic growth, advancements in security, improvements in basic health and education, and a renewed sense of optimism.
Today, around half of the province’s population of 30.5 million is under the age of 30, necessitating rapid growth and job creation. In 2014, the Government of Khyber Pakhtunkhwa partnered with the World Bank to develop a strategy for job creation centered on leveraging the digital economy to address youth unemployment.
Addressing youth employment through the digital economy has three key building blocks:
Over the past several years, innovations in information and communication technologies have fundamentally changed the nature of work.
This has created new opportunities in digital employment for workers and employers in South Asia and beyond.
So what are the pathways to this new employment?
During a recent Facebook live chat on digital jobs, we explored three themes related to the digital jobs of the future. First, we discussed where the digital jobs of the future are. Second, we discussed how South Asia is uniquely positioned to benefit from the growth of these jobs. And finally, we discussed how to get started in the digital economy by finding relevant training and learning opportunities.
Here’s an overview of our discussion in five points:
Digital jobs fall into two categories: jobs within the IT or digital industries, and what are termed digital society jobs. Digital industry jobs include those such as computer programmer, mobile app developer, graphic designer and other jobs where information and communication technologies are the core tool to perform the job functions. However, technology is also changing what we call digital society jobs, where technology is maybe not core to the job functions, but makes more you more efficient and productive, and improves access to markets and networks.
2. What is driving the emergence of these new digital jobs?
The rapid rise in connectivity that is linking more and more people to the internet is changing employment. Today, many jobs can be performed through computers, with workers telecommuting from almost anywhere in the world. Many business processes are being broken down into task based work, and which can be farmed out to people with the skills to do them, anywhere the world. Some of these tasks need higher-level skills, and can pay well – especially compared with many developing countries’ wage levels. But there are also simpler tasks that many more people, even those with limited skills, can do. This mix creates the opportunity to include more people in the global digital economy, while also creating pathways towards better paying and higher quality work for those who perform well and pick up in-demand skills.
Poverty maps are a useful tool to visualize and compare poverty rates across geographic areas, and learn about how poverty is distributed within a country, which is often times masked in national or aggregated statistics. For instance, the national poverty rate in Bangladesh in 2010 was 31.5 percent, which is the latest year for which a household survey was collected by the government to produce official poverty numbers.
However, a look at zila (district) and upazila (sub-district) level poverty rates suggests that poverty levels differ quite substantially across the different areas of the country with large pockets of poverty concentrated in the north and south-west part of the country. For example, some of the zilas in the north belonging to the Rangpur and Dhaka divisions are among the poorest in the country with poverty rates well above 50 percent while some of the zilas in the south-east belonging to the Chittagong division have poverty rates well below 20 percent.
While country level poverty maps are generally widely available, accessing the underlying information is not always easy or is unavailable in a user-friendly format. Moreover, there is not a straightforward way to link these disaggregated poverty statistics with other socio-economic indicators and even if one attempts to do, it might take a substantial amount of time to put together all this information.
Specifically, poverty maps are often times disseminated in the form of printed reports, which do not allow users to directly access the data in a digitized format or link it to other socio-economic statistics. Lowering barriers to access poverty statistics and facilitating the linking of these indicators to other non-monetary living standards statistics is important to facilitate the use of poverty statistics, make them more relevant for policy and program planning, and promote more evidence-based policymaking.
YouTube is a source of endless entertainment. It also has more meaningful content, such as between then deputy governor of Jakarta Basuki Tjahaja Purnama, city council, and local government agencies.
The objective, according to Purnama—who is now governor—is for citizens to be able to understand exactly why certain decisions were made or not made. Indeed, of Ahok, as he is commonly known, meeting with the City Department of Public Works generated much press. In it, he uncovered an appraisal that should have only been Rp 30 million (approximately US 2,300) was marked as Rp 1 billion (US 75 thousand), prompting someone in the meeting to dramatically call out, “we’ve been discovered!”
Through the proactive disclosure of relevant, accessible, timely, and accurate information, of ending extreme poverty and boosting shared prosperity. Transparency helps ensure that governments are efficient and effective by opening up information to public scrutiny and thus making public officials answerable for their actions and decisions. Limited resources go farther when decisions about their allocation and use are well informed, publically scrutinized, and accountable.