COMCEC Financial Outlook 2018
10
inclusion, this level for low-income group countries has been lagging behind the world averages
significantly.
While the world average was recorded as 789 in 2016, the OIC-LIG was realized as 141 in the
same year. The level of bank accounts opened by adults in OIC-HIG and OIC-UMIG countries,
which have exceeded the world averages significantly, recorded as 1,120 and 1,031 respectively.
This indicates that there is a close correlation between economic growth, income level, and
banking activities in a particular country.
Figure 4: Bank Accounts per 1,000 Adults
Source: Authors’ calculation from the World Bank Database
These figures indicate that the low-income group of OIC countries need to develop their markets
to increase financial inclusion in order to support their economic growth and poverty reduction.
Another indicator used to measure financial access is the number of bank branches per
100,000 adults that refers to the number of commercial bank branches per 100,000 adults in
an economy.
Figure 5: Bank Branches per 100,000 Adults
Source: Authors’ calculation from the World Bank Database
0
200
400
600
800
1.000
1.200
OIC-LIG OIC-LMIG OIC-UMIG OIC-HIG OIC-Average World Average
2012 2013 2014 2015 2016
0
5
10
15
20
25
OIC-LIG OIC-LMIG OIC-UMIG OIC-HIG OIC-Average World Average
2012 2013 2014 2015 2016