ICAR

Financial Inclusion

ICAR is managing this project which examines the extent, form and consequences of financial exclusion amongst new migrants in Northern Ireland and develops iniatives and policy recommendations to promote financial inclusion in the future. The research phases of the project are funded by the Calouste Gulbenkian Foundation.

The project also runs in parallel with a practical intervention run by the Citizens Advice Bureau Belfast, also funded by the Calouste Gulbenkian Foundation. The practical initiative will enable the employment of two Financial Inclusion Officers and one Administrator to work specifically with new migrants in Greater Belfast providing money advice and training in the community. ICAR is working with Citizens Advice Belfast to evaluate the first year of the initiative. 

The central aim of the research is to identify the main issues affecting financial inclusion amongst new migrant communities in NI and explore strategies for addressing these issues. From this principle aim emerge the following objectives:

• Scope the extent of financial inclusion amongst new migrant communities in NI
• Assess the causes and effects of financial exclusion and the barriers to greater inclusion
• Explore the efficacy of formal financial products for this group and the use of alternative informal financial services amongst migrant communities
• Evaluate the relevance of existing financial inclusion policies, including initiatives specific to Northern Ireland and the UK Treasury's Financial Inclusion Action Plan 2008-11, for the particular situation of new migrant communities
• Explore complimentary or alternative policy approaches and practical initiatives to address the main issues of financial inclusion as identified 
• Provide evidence on the issues of financial inclusion amongst new migrants applicable to the UK more generally

In July 2009 the Literature review for this project was published and is accessable below. There has also been a Launch Event for the project arranged by Citizens Advice Belfast where ICAR gave a presentation about the research and some preliminary research findings which are emerging from the research interviews. The powerpoint presentation is available to download below.

 ICAR Contact: Julie Gibbs

Last Updated: 06/08/09

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