> Posted by Jeffrey Riecke, Communications Associate, CFI
How can governments best regulate to advance financial inclusion? Effective regulation is often brought up when discussing essential components for expanding banking services. Like all industries, the world of financial services requires rules to ensure protection and fair practices. However, when it comes to advancing financial inclusion, the most effective way to handle regulation is not unanimous or even widely defined.
In recent years, more governments have taken steps to advance financial inclusion. Many have developed national inclusion strategies. A number have enacted regulation pertaining to new products and services, like mobile money. For government payment systems, such as social welfare benefits, some have switched over to electronic methods. Though on the whole, regulation struggles to keep pace with the increasingly complex services landscape, and progress is limited.
In the following video, global leaders discuss the role of regulation in financial inclusion, and how coordination within governments and between sectors can lead to more informed and enabling regulation and services environments.
The video features the following individuals:
- William Derban, Director, Financial Inclusion, CSR & PMO, Fidelity Bank Ghana Limited
- Gino Picasso, CEO, GloboKas
- Gabriel Davel, Project Manager, Davel & Associates
- Imelda Nicolas, Chairperson, Commission on Filipinos Overseas
- Sung-Ah Lee, Director, Alliance for Financial Inclusion
- Gaiv Tata, Director, Financial Inclusion Global Practice, The World Bank
- Jan Piercy, Senior Advisor, Enclude
To watch the video on our CFI YouTube page, click here.
Have you read?
Global Leaders Examine the Goal of Financial Inclusion by 2020
The Business Case for Investing in Financial Inclusion
Our Woman in Milan: Observations on the Intersection on Mobile Money and Regulation
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March 18, 2014 at 11:12 am
Frank Cianciullo
Governments at the base of the pyramid should work with NGOs to expand their postal networks via microfranchising and create the expanded network that can aggregate social services and deliver developmental policies outside of the core postal business. This will finally give people access to the relevant services they want – postal, financial, banking, government, telecommunications, export, etc. thereby also promoting economic development.