News
Rethinking Finance: FinTech for Development!
06-Jul-2025
How can FinTech Help Socioeconomic Development and Financial Inclusion in Post-Conflict Countries?
Dr. Sahel Annabi
Technology, in general, and Financial Technology (FinTech) in specific are playing a significant role in easing the challenges that individuals and businesses face in post-conflict countries. This research investigated “How can FinTech Help the Socioeconomic Development and Financial Inclusion in Post-Conflict Countries?”.
This study highlighted a set of driving forces imposed by financial technology within the framework of social and economic development, including the regulatory framework, infrastructure, ecosystem, products, and risk management, among other factors. The study concluded that FinTech has a significant positive impact on socioeconomic development. Furthermore, COVID-19 pandemic had a profound impact and played a pivotal role in the development and implementation of FinTech in post-conflict countries. It also accelerated the adoption of such technology to provide financial services to individuals and institutions in order to meet their daily life needs.
The research developed a comprehensive socioeconomic framework to assess the role and impact of FinTech on development and on financial inclusion in post-conflict countries.
This paper is guided by two theories: -
1- The Ecosystem Theory based on STEPE approach.
2- The Development Theory.
Furthermore, the paper discussed and argued efforts related to FinTech, financial inclusion, and socioeconomic development. Based on that, two knowledge gaps were identified:
1- The first is the need to redefine the relationship between finance and development,
2- The second is the lack of a comprehensive socioeconomic model to measure the impact of FinTech on development.
The researcher used semi-structured interviews based on an interview guide also developed throughout the effort. Fifteen interviews were conducted with different stakeholders including regulators, financial and FinTech professionals, individual & business clients and others.
Qualitative Research Methods were used, using an Interpretive Approach to analyze data collected from interviews.
Finally, it is worth mentioning that this research is considered to be unique due to the following facts:
• The research is considered the first empirical effort to investigate the role of FinTech in development. All other studies investigate ICT role in general in development.
• The research is the first to look into post-conflict countries.
• The research is one of the few empirical efforts to explore socioeconomic factors surrounding FinTech in post-conflict countries across several case studies.
• The data collection effort took place over three years before, during and after the global COVID-19 pandemic which provided revelatory multiple case studies of the impact of the pandemic on the role of FinTech in socioeconomic development and empowerment.
To access the full study, please click here.
About the Author:
The author holds a Doctorate in Business Administration (DBA) from Maastricht School of Management / Maastricht University and is a distinguished expert in development finance and economic growth, with three decades of multidisciplinary experience spanning over 20 countries across the Middle East, Asia, the Gulf Cooperation Council (GCC) region, and Africa. Throughout his career, he has served as a senior advisor and lead consultant on strategic reform and institutional development programs in both the public and private sectors. His academic credentials further include two Master’s degrees, a postgraduate diploma, and a professional certification in financial planning and wealth management.