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Survey on Financial Inclusion in the Middle East and Caucasus

ICC Survey on Financial Inclusion in the Middle East and Caucasus

Welcome to the International Chamber of Commerce Survey on Financial Inclusion in the Middle East and Caucasus.

Financial inclusion serves as a cornerstone for economic growth and poverty alleviation. Despite notable strides, millions in the MENA and Caucasus regions still lack access to financial services. Moreover, businesses operating in these regions face hurdles such as navigating intricate regulatory frameworks across jurisdictions and grappling with limited resources to meet compliance requirements. Overcoming these challenges is imperative for businesses to strive in the dynamic markets of MENA and Caucasus.

This survey aims to explore various dimensions of financial inclusion, including access and use to financial services, usage of digital financial tools, barriers to financial participation and compliance to financial crime policy requirements.

Your answers to this voluntary survey will be kept confidential, used for statistical and research purposes, and published in anonymised aggregate form only. 

The survey should only take approximately 5 minutes to complete. 

Thank you for your time and participation!

In the context of this survey, your personal data will be processed by the International Chamber of Commerce, data controller, in order to collect all responses to the Financial Inclusion in the Middle East and Caucasus survey and produce an anonymous report. You have the right to access, rectify, erase your personal data, restrict and object to processing, by sending an email to dataprotection@iccwbo.org or writing to the International Chamber of Commerce, ICC DPO, 33-43 avenue du Président Wilson 75116 Paris, France. For more information about Alchemer's privacy policy, click here.
 
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1. Where are your company's headquarters located? *This question is required.
2. What is your main sector of activity? *This question is required.
3. What is the number of employees in your company? *This question is required.
Part 1: Financial Inclusion
Access and use of financial services
4. Do you have access to a bank account? *This question is required.
5. With what type of financial institutions? (Select all that apply) *This question is required.
5. How frequently do you use your bank account for financial transactions? *This question is required.
5. What are the primary reasons for not having a bank account? (Select all that apply) *This question is required.
5. Which products and services do you use? (Select all that apply) *This question is required.
5. Did the financial institution prohibit the use of some services and which ones? (Select all that apply)  *This question is required.
5. If you use credit services, how often do you utilize?  *This question is required.
Digital Financial Services
6. What kind of payments do you use for your transactions? *This question is required.
7. What percentage of your daily financial transactions are conducted using cash? *This question is required.
8. Do you use mobile banking or mobile money services? *This question is required.
9. How frequently do you use mobile banking or mobile money services? *This question is required.
9. What are the main reasons for not using digital financial services? *This question is required.
Barriers to Financial Inclusion
9. In your opinion, what are the biggest barriers to financial inclusion? (Select all that apply) *This question is required.
Financial Literacy
10. How would you rate your understanding of financial products and services?  *This question is required.
Perceptions of Financial Institutions
11. How would you rate your level of trust in traditional banks and financial institutions? *This question is required.
Part 2: Compliance to financial crime policy requirements
Awareness of Compliance Requirements
12. Are you aware of the compliance requirements related to financial crime policies that impact access to finance?  *This question is required.
13. How would you rate your understanding of these compliance requirements?  *This question is required.
Impact on Access to Financial Services
14. Have you experienced any difficulties accessing financial services or products due to compliance with financial crime policies? *This question is required.
15. If yes, please specify the types of financial services or products that were difficult to access (Select all that apply). *This question is required.
15. How frequently do these difficulties occur?  *This question is required.
15. For which process/services do you experience most of the challenges? (Select all that apply) *This question is required.
16. What specific challenges do you encounter during these processes? (Select all that apply) *This question is required.
Impact on Business Operations
17. Have compliance requirements impacted your ability to access financing for your business?  *This question is required.
18. If you have been declined financing, what reason was given by your bank? (Select all that apply) *This question is required.
18. How much have compliance requirements affected your business operations ? *This question is required.
19. How much time per month (in number of days) do you spend to comply with compliance requirements? *This question is required.
20. Have you explored alternative or informal financing services due to difficulties accessing formal financial services?  *This question is required.
21. Which alternative/informal financing services do/did you use? (Select all that apply) *This question is required.
Satisfaction with Compliance Processes
21. How satisfied are you with the efficiency and effectiveness of compliance processes implemented by financial institutions?  *This question is required.
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