FINANCIAL SERVICES TO THE RURAL POPULATION: A STUDY ON THE ROLE OF RETAIL BANKS IN SAUDI ARABIA

Abstract

Financial services form the backbone of the economy of any country. They are responsible for generating and managing money and hence, are very important for the development of the country on a whole. Financial services should be provided to everyone irrespective of their income and the classes by the society. This research identifies the role of retail banks in the provision of financial services to the rural people in Saudi Arabia whereby they are facing issues in accessing them. The academicians also have focused less on the topic and hence this research is significant as it has focused on the rural population of Saudi Arabia. The research approach is quantitative methodology whereby questionnaire survey is prepared and in order to find out about the provision of financial services to the poor people in Saudi Arabia. There are 25 participants of Saudi Arabia successfully complete the questionnaire survey. The collected data were further analyses statically and the obtained result concluded that the poor people still lack the availability of financial services in retail banks in Saudi Arabia.