THE ROLE OF FINANCIAL INCLUSION IN ATTRACTING SENIORS TO DEAL WITH BANKS

Аннотация

INTRODUCTION them to provide the best electronic and modern Modern financial and banking services have played banking services or at least retain their current an essential role in increasing economic customers before they are attracted by competing development in developed countries. In Iraq, after foreign banks. At first, modern services were 2003, these services began to see the light little by limited to the segment of merchants and the rich little, but slowly, because most Iraqi people did not who had banking transactions. After that, the move own mobile devices or know how to use them; was made to localize the salaries of employees and Internet service was not available in every home retirees with banks, which made using electronic until 2015. During this period, banks began to enter payment cards Master or Visa popular. However, noticeably to provide their electronic banking the problem that emerged is that most older people services, which was something new for them and and retirees do not understand how to use any of for the Iraqi citizens who had always used these banking services. The researcher also noted traditional banking services in the past. What that banks did not provide any advantages or encouraged local Iraqi banks to resort to keeping interest to this segment in terms of conducting free pace with the technological revolution in banking courses or workshops to attract them to deal with services was the entry or start of opening branches them, as most older people have a crisis of of foreign banks in Iraq, which increased the confidence in dealing with banks on the one hand intensity of competition and made it necessary for https://www.theamericanjournals.com/index.php/tajmei 41 THE USA JOURNALS THE AMERICAN JOURNAL OF MANAGEMENT AND ECONOMICS INNOVATIONS (ISSN- 2693-0811) VOLUME 06 ISSUE08 and a lack of experience in using modern banking Third: Objective of the Study technologies or services on the other hand, which The research sought to define the concept of makes them resort to using traditional financial inclusion and its role in attracting the technologies or services provided by unlicensed elderly population to deal with banks, as this will financial companies or brokers or those not subject achieve two goals, the first of which will be to to the provisions and laws of banks. provide the best financial and banking services to From this standpoint, we have delved into the this category by knowing the reasons for their reasons why the elderly do not deal with banks and reluctance to use banking services, while the are not interested in the services they provide, second goal is to solve these reasons or obstacles, which makes banks think seriously and use which in turn will direct the capital of this category unconventional methods to attract this segment, towards saving and investing in the banking sector, especially since their population percentage which in turn will achieve financial well-being for exceeds a third of the total population. Because this category and move the wheel of the economy achieving financial inclusion for any country must on the other hand. focus on all its adult segments and those who have Fourth: Hypothesis of the Study income. Attracting the elderly to deal with banks The research here was based on the hypothesis and making this transaction easy and simple for that the financial inclusion policy in Iraq is them will gradually increase their confidence in insufficient or not directed to all segments of banks and thus achieve financial inclusion, which in society, especially the elderly. turn will generate financial and economic stability. Fifth: Methodology of the Study THE FIRST SECTION The research methodology is robust and RESEARCH METHODOLOGY comprehensive. It involves the use of First: Problem of the Study questionnaires, personal and telephone interviews The research problem is important, as it addresses with the target population, and the adoption of the the elderly's reluctance to use the financial services five-point Likert scale and the SPSS, Excel program provided by banks and their tendency to resort to for data analysis. This approach ensures the informal channels. This issue underscores the thoroughness and reliability of the research. crucial role of financial inclusion in the elderly's SECTION TWO financial and banking interactions. THEORETICAL FRAMEWORK FOR FINANCIAL Second: The Importance of the Study INCLUSION One of the essential segments of any country in First: The Concept of Financial Inclusion which capital is concentrated is the elderly There are several definitions of financial inclusion, between the ages of 50 and 70. Raising the levels of as it is defined as the system that provides financial financial inclusion is one of the goals of sustainable services to individuals with the best quality, lowest development, and one of the most important cost, and highest possible protection (Dangi & factors for raising the level of financia