News

Developing world officials will gather to discuss financial inclusion for the unbanked

September 26, 2011

Central bank governors, finance ministers and financial regulators from 80 developing countries will meet this week to set goals for expanding financial services to their populations.

The Global Policy Forum, organized by the Alliance for Financial Inclusion and the governments of Mexico and Peru, will be held on Sept. 28-30 in Riviera Maya in Mexico.

According to an AFI press release, an estimated 2.5 billion people do not have access to formal financial services.

"The most successful solutions to increase access to financial services for the poor have been created in developing countries. We believe that peer learning, mutual exchanges and replicating successful policy innovations play a fundamental role in expanding financial inclusion," said Alfred Hannig, AFI's executive director.

At the Rivera Maya forum, participants will discuss strategies and initiatives to expand financial services and bring more of their populations into the formal financial sector. President Felipe Calderon of Mexico will deliver a keynote address to the forum.

"Policymakers want to better understand the risks and opportunities associated with mobile banking, agent banking, microsavings, consumer protection, state banking reform and financial identity systems. They can then adapt the best systems and technologies for their local markets," Hannig said.

Other countries that have implemented successful financial inclusion programs in recent years include Mexico, Brazil, Peru, Bolivia, Uganda, South Africa, India, Thailand, Mongolia, the Philippines and Indonesia, according to the release. 

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