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In democratic systems, the concepts of citizenship and the state have expanded.
Traditionally, citizenship gives people the right to participate in decisions that affect social welfare in exchange for responsible behavior within society.
But in societies experiencing the growing financialization of economic resources that are fundamental to well-being and prosperity, citizenship cannot be exercised if the financial system is conceived as something exogenous to democratic politics. In a financialized society, if we are not financial citizens, we are undoubtedly not citizens.
Financial Citizenship is achieved through three main stages:
- Financial inclusion: a process that gives access and visibility to the products and services of the economy materialized through the financial system. The Positive Registry is one of the most effective processes for this inclusion.
- Offer of products and services: availability that suits the citizen's needs and accessibility.
- Financial education: a framework of knowledge and good practices that fosters inclusion based on responsible financial behavior, thus enabling the sustainability of Citizenship.
In short, with Financial Citizenship, citizens have access to appropriate financial products and services. In addition, they have the opportunity, ability and confidence, through appropriate support and advice, to make informed decisions about their financial circumstances. And this is the minimum condition necessary to effectively organize their finances in society.
Currently, the world has an economically active population of around 2 billion people who have no visibility in the financial system. This huge excluded contingent, which represents more than 25% of the global population, does not enjoy the benefits provided by Financial Citizenship, such as:
- Carrying out day-to-day transactions such as sending and receiving money;
But in societies experiencing the growing financialization of economic resources that are fundamental to well-being and prosperity, citizenship cannot be exercised if the financial system is conceived as something exogenous to democratic politics. In a financialized society, if we are not financial citizens, we are undoubtedly not citizens.
Financial Citizenship is achieved through three main stages:
- Financial inclusion: a process that gives access and visibility to the products and services of the economy materialized through the financial system. The Positive Registry is one of the most effective processes for this inclusion.
- Offer of products and services: availability that suits the citizen's needs and accessibility.
- Financial education: a framework of knowledge and good practices that fosters inclusion based on responsible financial behavior, thus enabling the sustainability of Citizenship.
In short, with Financial Citizenship, citizens have access to appropriate financial products and services. In addition, they have the opportunity, ability and confidence, through appropriate support and advice, to make informed decisions about their financial circumstances. And this is the minimum condition necessary to effectively organize their finances in society.
Currently, the world has an economically active population of around 2 billion people who have no visibility in the financial system. This huge excluded contingent, which represents more than 25% of the global population, does not enjoy the benefits provided by Financial Citizenship, such as:
- Carrying out day-to-day transactions such as sending and receiving money;
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By: Elias Sfeir President of ANBC & Member of the Climate Council of the City of São Paulo & Certified Advisor
