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> Posted by Center Staff
Over the past year, financial inclusion leaders and advocates have bolstered airtime for banking the unbanked. In August, The Guardian launched a hub for financial inclusion content. In recent months, The New York Times produced an extensive reporting series on the consumer ills of the U.S. subprime auto loan market. In January, U.S. President Obama publicly commended and partnered with India in its robust inclusion efforts. Also in January, Bill Gates spoke about mobile money on The Tonight Show Starring Jimmy Fallon. Today, The Wall Street Journal added its considerable weight with the launch of Multipliers of Prosperity, a micro-site sponsored by MetLife Foundation that explores the challenges faced in advancing financial inclusion.
> Posted by Jeffrey Riecke, Communications Associate, CFI
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Last week global leaders across industries gathered in the tiny mountain town of Davos, Switzerland for the 2015 World Economic Forum (WEF). (Though you probably already knew that, given the annual event’s ever-swelling stature and press.) The WEF fosters strategic dialogues in the hopes of developing ideas, insights, and partnerships around the most pressing issues and transformations reshaping our world. This year’s WEF included sessions from Jack Ma of Alibaba on the future of commerce, German Chancellor Angela Merkel on global responsibilities in a digital age, IMF Director Christine Lagarde on global monetary policy, former Israeli President Shimon Peres on political affairs affecting the region, and Bill Gates on sustainable future development. Of course we were following the topic of financial inclusion, and the action that got underway made it a week worth noting. Here’s a snapshot of some of the financial inclusion happenings at Davos.
In the “Inclusive Growth in a Digital Age” session held on Wednesday, a panel, which included MasterCard CEO Ajay Banga, considered how our age of digitization can confront income and wealth inequality, support investments in education and work-based training, and address vulnerable employment. Among the points of discussion was mobile phone penetration leveraged for financial services access. A full video recording of the session is available, here.
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