concept   bank account
culture   Somalia
statement   Bank accounts are less common in Somalia due to reliance on cash-based transactions and informal financial systems.
3 similar statements
# Concept Culture Statement Freq.
1 account Somalia Traditional banking is less common and cash-based transactions are more prevalent due to limited access to banking infrastructure. 1
2 bank account Somalia Less common due to historical instability and reliance on cash-based economies 1
3 bank account Somalia Not commonly used due to the prevalence of informal financial systems like hawala and hawaladars. 1