Finclusion Index_105 Countries

Finclusion Index is constructed through Human Development Report (HDR) 2010 methodology using the data from Global Findex Database 2021. Due to the missing or unavailability of data for key observations in the Global Findex Database 2021 report for some countries, Finclusion index is reported for 105 countries.
The selection of Finclusion Index dimensions is based on measuring the intensity of financial inclusion which are based on the fundamental definition of financial inclusion, i.e., providing easy access of banking services such as saving and deposit bank account, credit facility, insurance and other related credit services to mass population, thus, the financial inclusion for a nation can be quantified using the dimensions including, percent of population (above 15 year age) having active bank account, the frequency of using bank account or banking services which include using credit card, debit card, mobile banking, or any other banking related service such as unified payment system, and internet banking service and finally, how easily one can participate in banking service.
Dimension 1
Active Bank Account Per cent of the population have an active bank account with a financial institution.
Financial institution account (% age 15+).
Dimension 2
Frequency of using Bank Account Percent of the population uses banking services such as ATMs, debit cards, credit cards, and mobile banking.
Used a credit card (% age 15+)
Used a debit card (% age 15+)
Use a mobile phone or the internet to make payments, buy things, or to send or receive money using a financial institution account (% with a financial institution account, age 15+), Made a deposit (% with a financial institution account, age 15+)), (Withdrew money from a financial institution account 2 or more times a month (% age 15+).
Dimension 3
Ease of opening a bank account D3 measures the difficulty in opening a bank account and using banking services.
No account because financial institutions are too far away (% without an account, age 15+)
No account because financial services are too expensive (% age 15+)
No account because of insufficient funds (% age 15+)
No account because of a lack of necessary documentation (% age 15+)
No account because of a lack of trust in financial institutions (% age 15+); No account because of religious reasons (% age 15+); No account because someone in the family has one (% age 15+)
Finclusion Index: Finclusion Index is constructed as a geometric mean of three dimensions namely D1 (Active bank account), D2 (Frequency using bank account) and D3 (Ease of opening bank account). The higher value of the Finclusion Index shows a higher degree of financial inclusion, and the lower value shows a lower degree of financial inclusion in the region.
Finclusion Index = ∛(D1.D2.D3)