Financial inclusion of persons with disabilities: role of diversity, equity, inclusion and access (DEIA)

Persons with disabilities are a vulnerable group who are often financially excluded, meaning that they lack affordable access to financial services. Ensuring the financial inclusion of persons with disabilities is important because it can bring them into the formal financial system, give them access to basic banking services and a wide range of digital financial services which they can use to participate meaningfully in the economy, earn income, generate wealth, rise above disability-induced poverty, and live a fulfilling life just like everyone else. This article offers insights into the strategies that policymakers can adopt to increase financial inclusion of persons with disabilities. The article also presents real world case studies on the strategies adopted to increase financial inclusion of persons with disabilities in some countries such as Egypt, Bangladesh and Mexico. The study recommends creating an enabling policy environment for the financial inclusion of persons with disabilities to take place, increasing accessibility to bank branches and digital financial services platforms, and financial regulators should offer financial and non-financial support to financial institutions that are extending financial services to persons with disabilities.