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April 20, 2018

70% of people in the world today have bank a account

By KEN SWEET
AP Business Writer

NEW YORK — Roughly seven out of every 10 adults worldwide now have some form of bank account, the World Bank said Thursday, largely due to the proliferation of cell phone-based bank accounts and other simple bank account programs in places like India and Sub-Saharan Africa.

The finding is a sign of the improved financial wellbeing of those living in developing countries and particularly women, who increasingly have a safe place to store their savings and are able to participate in the growing digitalization of the global economy.


 
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