This Mandalay region dashboard on financial inclusion gives a % high-level overview of the adult % Kachin population uptake and usage Sagaing ( of financial products and % services. The dashboard % Shan also describes the adult Chin ( ( perceptions, attitudes % and needs within the % Mandalay Mandalay region. Magway ( ( % % Rakhine Nay Pyi Taw ( ( % Bago % Demographics ( Kayah ( % Mandalay is home % Ayeyarwady Kayin to about 4.38 million ( ( adults or close to 13% of % % the adult population in Yangon ( Tanintharyi Myanmar. The largest % ( concentration of adults Mon are in Yangon (17%) and ( Mandalay (13%). Adult population by State/Region % Married % Divorced/ % % Separated % Mandalay % Myanmar % Widowed % % Single Marital Urban % status Rural
Rural vs. urban
% 18 - 24 years Male % Mandalay % Female 25 - 34 years % Male Myanmar % Female 35 - 44 years % 45 - 54 years % % % % 55 - 64 years % % % 65 years % % and older % Age (%) Male vs. female 1USD = ± MMK1,320 % % No income % % 46 $1—$100 % % % OF MANDALAY $101—$200 % % HOUSEHOLDS $201—$300 % % INVOLVED IN 46 % are dependent $301—$400 FARMING on savings for % Mandalay % Myanmar of these their farming $401—$500 % inputs % $501—$1000 % 14% borrow from MADB $1001—$2000 % 3% claim not to use any inputs Monthly Refused/ % income Household involvement in farming (%) do not know % USD (%)
Collection centres % Middleman/agents % % 43 Wholesaler% OF FARMER Directly to consumers % HOUSEHOLDS ARE Processing centres MOSTLY % Other (Specify) SUBSISTENCE OR % LARGELY FARMING Retailer % Markets for commercial farmers FOR OWN CONSUMPTION
% % % % % % % %
% % % % % % % %
Farming Self- Formally- Formally- Informally- Remittances Other No & fishing employed employed employed employed dependent income income (Government) (Private) Main source of income (%)
Mandalay Myanmar 53’ 58’ 54’ 42’ 50’ 48’ 50’ 49’ 31’ 34’ 35’ 34’ 36’ 38’ 23’ 24’ 8’ 10’
Grocery Public Bank ATM Post Market Medical MFI Mobile store access office facility money Mean time taken to reach destination (minutes - dry season) Myanmar MANDALAY
1USD = ± MMK1,320 % % No income % % 46 $1—$100 % % % OF MANDALAY $101—$200 % % HOUSEHOLDS $201—$300 % % % INVOLVED IN 46 are dependent % $301—$400 % Dealing with finances FARMING on savings for Mandalay % % is stressful/a burden of these their farming $401—$500 % Myanmar You adjust your expenses % inputs % $501—$1000 % % according to your income 14% borrow from MADB $1001—$2000 % A budget helps to keep track of % 3% claim not to use any inputs Monthly Refused/ % income how much money you can spend % % do not know USD (%) % Household involvement in farming (%) You often have to spend more Mandalay money than you have available % Myanmar Collection centres % You keep track of your % Adult Middleman/agents % income and expenditure % % population 43 on a monthly basis Agreeing with Wholesaler % statement (%) OF FARMER MILLION Directly to consumers % HOUSEHOLDS ARE Processing centres MOSTLY % % Unplanned expenses e.g. new clothes % Other (Specify) SUBSISTENCE OR % % Mandalay LARGELY FARMING Irregular/unreliable income Retailer % Myanmar % FOR OWN % Markets for commercial farmers % CONSUMPTION Not enough income 41 % OF MANDALAY % % % % % % % % Unexpected events % ADULTS HAVE % /have to pay for necessities DEPLETED % % Other HOUSEHOLD FUNDS % Reasons for not % % % % % % % % FOR FOOD AND OTHER Skipping meal % planning (% of Don’t know CRITICAL LIVING % those not planning) NEEDS BEFORE THEIR NEXT INCOME Poverty symptoms reduced % Farming Self- Formally- Formally- Informally- Remittances Other No & fishing employed employed employed employed dependent income income nationally between 2013 (Government) (Private) and 2018 (22% to 18%). % Main source of income (%) % Mandalay citizens have the same prevalence of hunger Skipping treatment Mandalay 74 Myanmar OF ADULTS HAVE HAD A and educational symptoms 53’ 50’ 58’ 54’ 50’ 42’ 48’ 49’ MAJOR EXPENSE OR EVENT as the national average. 31’ 34’ 35’ 34’ 36’ 38’ 23’ 24’ 8’ 10’ % % % % % Skipping school Grocery Public Bank ATM Post Market Medical MFI Mobile Borrow/ Rely on Savings store access office facility money credit family/friends % of households experiencing Mean time taken to reach destination (minutes - dry season) Mechanism for paying for major expense (%) poverty symptom Main Regulated/ Financial Main Mandalay adults use different financial mechanisms (both Focus unregulated Uptake Product Provider(s) formal and informal), ranging from borrowing and pawning Formal % Payments Bank MEDICAL LIVING EDUCATION of goods to saving and investing, to meet their top three Financial Access EXPENSES EXPENSES EXPENSES needs which are medical, living, and education expenses. Savings groups, Informal % Savings Products jewellery, livestock Inclusion Mandalay Formal % Payments Bank Myanmar FinScope measures the perceived Depth ownership/usage of financial products. Formally % Multiple Savings groups, jewellery, % Informal % Savings served If an adult (18 years or older) believes to products only livestock % Banked currently have or use a product or service % from an institution (e.g. MADB) or % Formal Payments Bank Other formal % family/friend, the individual is classified (non-bank) % as accessing financial services, either Savings groups, % Informal % Savings Informal % formally or informally. This classification Urban jewellery Area % may deviate from supply-side information Excluded % (on formal product reporting) as one Formal % Credit MFI, cooperatives adult may have multiple products with Financial access overall (with overlaps) (%) Savings groups, similar institutions (e.g. savings account Informal % Rural Savings jewellery, livestock with two banks). FinScope only counts this adult once although having multiple Formal % Payments Bank products in the access strand. The ‘banked’ Banked % Other formal category has precedence over other formal % % Credit Savings Payments Insurance Savings groups, Informal % Savings % channels which has precedence over Male jewellery informal channels. Hence, Finscope and Gender % % % % % % % % % % Payments, supply-side may differ when reporting on Formal % Bank, MFI, cooperatives Formal credit adult perceptions versus accounts in the Informal % corresponding supply side analysis. Savings groups, Female Informal % Savings Excluded jewellery % % % % % % % % % Overall 48% of Myanmar adults are Overview of financial access (%) formally served while 50% are informally Informal Cross-use between bank products and services, served. Comparatively, 51% of Mandalay Financial access (overall) other formal (non-bank) and informal products Formal (regulated) vs. informal usage of financial products (%) adults are formally served with 56% of adults being served informally. Mandalay region has Bank access in Mandalay is identical to the national average but with a higher other 21% of its households with a formal account formal (non-bank) product uptake. Differences to the national average may be Formal % just below the 24% national average. explained by economic activity, stability, remote financial access points and general savings % Mandalay % perceptions of financial services. Banked Myanmar % % % % % Other formal % Mandalay (non-bank) % % % % % % % % Informal % One household Myanmar one account (%) Mandalay Myanmar % At home % Other formal Financial access Banked Informal only Excluded % (non-bank) strand (%) Not saving % Mandalay adult product ownership or usage is largely driven by credit from other formal (non- Savings overall (with overlaps) (%) bank) at 16%. Overall the MADB (13%), MFIs % % % % % % % (10%) and Cooperatives (7%) service the state. % % % % % % % MADB MFI Cooperatives % Mandalay 27 % % % % % % % % % % % % Mandalay % % % Myanmar Myanmar % % % OF MANDALAY ADULTS CLAIM Female Male Rural Urban Penetration levels Savings Savings other Savings Savings Do not Saving TO BELONG TO INFORMAL at bank formal (non-bank) informal at home save - formal product up-take (%) Mandalay access strand by gender (%) Mandalay access strand by location (%) strand (%) SAVINGS GROUPS. Main Regulated/ Financial Main Mandalay adults use different financial mechanisms (both Focus unregulated Uptake Product Provider(s) formal and informal), ranging from borrowing and pawning Formal % Payments Bank MEDICAL LIVING EDUCATION of goods to saving and investing, to meet their top three Access EXPENSES EXPENSES EXPENSES needs which are medical, living, and education expenses. Savings groups, Informal % Savings Products jewellery, livestock Mandalay Formal vs. informal usage of financial products Formal % Payments Bank Myanmar Depth Formally % Mandalay adults have a high use of informal products with savings informal being Multiple Savings groups, jewellery, % Informal % Savings served products only livestock the most popular one. Payments and credit have high use of formal mechanisms. % Banked % % Informal credit comprises mostly current borrowing from money lenders employers Formal Payments Bank Other formal % (non-bank) % and getting goods in advance from shop/store. Informal insurance largely Savings groups, % comprises community based groups or solidarity systems and funeral or burial Informal % Savings Informal % Urban jewellery societies referred to as Nar yay athin. Informal savings comprises village savings Area % Excluded % groups such as Su Jay or Su-mae, savings in livestock and jewellery. Formal % Credit MFI, cooperatives Financial access overall (with overlaps) (%) Savings groups, Informal % Rural Savings jewellery, livestock
Formal % Payments Bank
Banked % Other formal % % Credit Savings Payments Insurance Savings groups, Informal % Savings % Male jewellery Gender % % % % % % % % % % Payments, Formal % Bank, MFI, cooperatives Formal credit Informal % Savings groups, Female Informal % Savings Excluded jewellery % % % % % % % % % Overview of financial access (%) Informal Cross-use between bank products and services, other formal (non-bank) and informal products Formal (regulated) vs. informal usage of financial products (%)
Formal % Savings and Investments savings % Mandalay % Banked Myanmar A significant proportion of Mandalay adults save mainly through informal % mechanisms (44%) compared to a lower national average of 34% overall. % % % % Other formal % Mandalay (non-bank) % % % % % % % % Informal % One household Myanmar one account (%) Mandalay Myanmar % At home % Other formal Financial access Banked Informal only Excluded % (non-bank) strand (%) Not saving % Savings overall (with overlaps) (%)
% % % % % % % % % % % % % % MADB MFI Cooperatives % Mandalay 27 % % % % % % % % % % % % Mandalay % % % Myanmar Myanmar % % % OF MANDALAY ADULTS CLAIM Female Male Rural Urban Penetration levels Savings Savings other Savings Savings Do not Saving TO BELONG TO INFORMAL at bank formal (non-bank) informal at home save - formal product up-take (%) Mandalay access strand by gender (%) Mandalay access strand by location (%) strand (%) SAVINGS GROUPS. Borrowing and Credit Formal % credit % % Mandalay Borrowing from informal (mainly driven by money lenders) in Mandalay is Banked % Myanmar lower at 19% compared to 22% nationally. However formal borrowing is higher Other formal % at 22% overall. (non-bank) % % % % % % % Informal % Mandalay % % % % % % Family/friends % Myanmar % Not borrowing % Credit Credit at other Credit Credit with Do not Credit at bank formal (non-bank) informal family/friends borrow strand (%) Credit overall (with overlaps) (%)
% Mandalay % % % %
Myanmar % About one in two adults in % % % % Mandalay are aware of mobile % % % % % money which is similar to the Mandalay % % % % % Mobile Aware of Registered with Used Banked and Unbanked and national average. Myanmar money mobile money mobile money mobile money remit via bank remit via bank Have one Have/use two Have/use three Informal Do not use any regulated regulated products regulated products product(s) only formal/informal product product(s) Remittances and mobile money Formal % % Product depth strand (%) remittances Mandalay % Bank remittances – both banked and unbanked users Banked % Myanmar (over the counter) – constitute one of the two main Other formal % % % % % % % drivers of formal remittances. (non-bank) % Male % Remittances overall % % % % % Informal % (with overlaps) (%) Female % Family/friends % Have one Have/use two Have/use three Have/use four Informal Do not use any % Not remitting % regulated regulated regulated regulated product(s) formal/informal product products products products only product(s)
% % %% % Remittances through bank Mandalay product depth strand by gender(%) Mandalay Remittances through other formal (non-bank) % % % % % Remittances through informal channels Myanmar Remittances through family/friends Remittances Do not remit strand (%) % Transactional 22 23% % Insurance and risk management Insured % Mandalay Other formal % Myanmar The most common income security risks encountered (non-bank) % by Mandalay adults in the past 12 months were major % Insurance overall Informal % illness (25%) and crop failure (12%). The main coping (with overlaps) (%) Remittances Savings Insured % 27% 67% mechanisms for both risks is pawning goods, borrowing % through others 26% 57% money or doing nothing. % Not insured %
% % % % Formal insurance is largely driven by social Mandalay security benefit while informal insurance is Mandalay % % % % % % Myanmar largely driven by informal funeral funds and Myanmar 30 45 21% 55% solidarity systems. Insurance Credit Insured from other Insurance from Insure through Not Insurance Landscape formal (non-bank) informal sources others insured strand (%) of access % Product Depth Strand
The product depth strand classifies adults with their current number of different regulated (formal) products across the four main categories of credit, savings, payments (transactions and remittances), and insurance. The last two tiers are those only using informal (unregulated) products and the excluded (those that do not have/use any financial product/service).
% % % % % Mandalay % % % % % Myanmar
Have one Have/use two Have/use three Informal Do not use any regulated regulated products regulated products product(s) only formal/informal product product(s) Product depth strand (%)
% % % % % % Male % % % % % Female
Have one Have/use two Have/use three Have/use four Informal Do not use any regulated regulated regulated regulated product(s) formal/informal product products products products only product(s)
Mandalay product depth strand by gender(%)
Landscape of Access % Transactional 22 23% The Landscape of Access is used to illustrate the extent to which financially included individuals have/ Remittances Savings use financial products/ 27% 67% services (excluding 26% 57% those borrowing from family/friends and those who save at home/ saving in secret place). The population here Mandalay Myanmar 30% 45% would include those 21% 55% formally included as well Insurance Credit Landscape informally included. of access Key fi ndings
» At 51% Mandalay exceeds the national average (48%) for formal fi nancial access. Formal fi nancial access is driven mainly by MADB credit (13%), in line with the national average, MFIs, and formal remittance channels.
» Mandalay adults relying exclusively on informal products (20% urban and 26% rural) is higher than national average (19% and 23% respectively). Adults using both formal and informal (58%) compares similarly with the national average (56%).
» Mandalay has a slightly higher proportion of adults (24%) dependent only on informal mechanisms as compared to the national average (22%).
» Most adults only use one formal product (30%) with less using two or three regulated products (21%).
» The proportion of households with one account is at 21% for Mandalay which is three percentage points lower than the national average of 24%.
» Urban adults in Mandalay are more formally included at 55% while rural adults are at 49%. Urban adults that are informally served sit at 20% while rural adults sit at 26% indicating higher rural dependency on the informal services alone. The excluded population in both urban and rural areas stood at 25%.
» Nearly half of adults (48%) are aware of mobile money but with much lower uptake of the service (4%).
Note to Reader: The data displayed depicts the understanding, perceptions and responses to questions of the surveyed adult population asked by well-trained enumerators. The dashboard refl ects the demand-side data on fi nancial inclusion for understanding consumer perceptions and behaviour. Disparities emerging between the FinScope fi ndings and supply-side are due to measurement differences, duplication, literacy, awareness, etc. Some of these disparities are explored for follow-up investigation in the MAP Diagnostic Report. Some graphs are not meant to be added due to multiple mention/overlaps. Some of the numbers in the graphics may add to less or more than 100% due to rounding off.