Regulatory Alerts2022-10-31
Financial Vulnerability among Dutch Residents with a Migration Background
The Dutch Authority for the Financial Markets (AFM) issued this December 2021 exploration to assess the financial vulnerability of Dutch residents with a migration background, particularly those of non-Western origin, and their access to financial services. The report concludes that this demographic faces higher average financial vulnerability due to lower education levels, weaker labor market positions, lower incomes, and significant pension gaps, with 40% of non-Western pensioners living below the poverty line. While direct evidence of restricted access to financial products is lacking, barriers such as language difficulties, digital literacy gaps, and complex regulatory frameworks are identified, prompting recommendations for targeted policy interventions and improved service accessibility.