Evaluating the role of FinTech in achieving financial inclusion in the Maghreb countries according to the Global Financial Inclusion Index 2025
Abstract
This study aims to analyze the extent to which financial technology (FinTech) contributes to enhancing financial inclusion in the Maghreb countries, based on the latest data from the Global Financial Inclusion Index 2025, in light of the increasing link between digital transformation and financial systems, which has made financial technology one of the most prominent pivotal tools for achieving financial inclusion.
The study found that financial technology in the Maghreb countries is only a contributing factor. Despite the high levels of digital empowerment (the spread of smartphones and the Internet) in Algeria, this has not translated into the expansion of financial inclusion, as the use of digital payments has been characterized by its weak level. On the other hand, although the levels of digital empowerment in Morocco and Tunisia are relatively lower than in Algeria, they have recorded relatively better results thanks to the adoption of clear national strategies in the field of electronic payment and the promotion of financial literacy. The contribution of financial technology to achieving financial inclusion calls for the need to enhance integration between digital strategies and financial policies, expand financial education programs, and direct technological innovation towards serving the most marginalized groups in a way that enhances their confidence and pushes them towards the actual use of official financial services
References
Atheer, A. (2024, June). The effect of financial technology on the promotion of financial inclusion in Arab nations. Al Bashaer Economic Journal, 10(02), pp. 435-450.
Bains, P., & Wu, C. (2023, June). Fintech notes: Institutional arrangements for fintech regulation- Supervisory monitoring. Washington, DC : International Monetary Fund.
BIS. (2025, 07 31). Innovation, fintech and AI: The future of central banking is inextricably linked to innovation. Retrieved from bis.org: https://www.bis.org/topic/fintech.htm
Central Bank of Ireland. (2025, 07 31). Explainer - What is “fintech” and how is it changing financial products? Retrieved from centralbank.ie: https://www.centralbank.ie/consumer-hub/explainers/what-is-fintech-and-how-is-it-changing-financial-products
Djewani, S., & Merimet, A. (2021). Dawr al-tiknūlūjiyā al-mālīyah fī taʻzīz al-shumūl al-mālī fī al-waṭan al-ʻArabī : tajribat al-Baḥrayn. Majallat Abḥāth iqtiṣādīyah muʻāṣirah, 04(02), pp. 272- 291.
Financial Stability Board. (2024, 10 22). Financial Innovation. Retrieved 07 31, 2025, from fsb.org: https://www.fsb.org/work-of-the-fsb/financial-innovation-and-structural-change/financial-innovation/
Himar, L. (2024, October). Dawr taṭbīqāt al-tiknūlūjiyā al-mālīyah fī taʻzīz al-shumūl al-mālī "dirāsah ḥālat al-Mamlakah al-ʻArabīyah al-Saʻūdīyah". Majallat al-aṣīl lil-Buḥūth al-iqtiṣādīyah wa-al-idārīyah, 8(2), pp. 375- 392.
International Monetary Fund. (2024, 10 31). Financial Access Survey2024 Highlights: Marking 15 Yearsof Supporting Financial Inclusion. Retrieved 07 23, 2025, from imf.org: https://data.imf.org/-/media/iData/External-Storage/Documents/6283296788924FC692761C4DE4A71BA7/en/FAS-2024-Highlights-Report.pdf
Kadri, A., & Filali, T. (2022). Taṭawwur al-tiknūlūjiyā al-mālīyah wmsāhmthā fī taʻzīz darajat al-shumūl al-mālī. Majallat Buḥūth al-iqtiṣād wālmnājmnt, 04(01), pp. 344- 359.
Oumdour, L., & Ghayat, C. (2021). Aswāq iʼtmān al-tiknūlūjiyā al-mālīyah ʻabra al-ʻālam-dirāsah taḥlīlīyah. Majallat Maʻhad al-ʻUlūm al-iqtiṣādīyah, 24(1), pp. 85 -100.
Sayyid Aʼmar, Z., & ibn Abd al-Fattaḥ, D. (2020, March). al-tiknūlūjiyā al-mālīyah ka-ālīyah li-taʻzīz al-shumūl fī al-waṭan al-ʻArabī-dirāsah ḥālat al-Sharq al-Awsaṭ wa-Shamāl Ifrīqiyā. Majallat al-Takāmul al-iqtiṣādī, 08(01), pp. 63- 79.
Tok, Y., & Heng, D. (2022). Fintech: Financial Inclusion or Exclusion? IMF Working Paper.
World Bank Group. (2025, 01 27). Financial inclusion is a key enabler to reducing poverty and boosting prosperity. Retrieved 07 22, 2025, from worldbank.org: https://www.worldbank.org/en/topic/financialinclusion/overview
World Bank Group. (2025). The Global Findex Database 2025. Retrieved 07 30, 2025, from worldbank.org: https://www.worldbank.org/en/publication/globalfindex/download-data
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
