Oct 26, 2016 |
Innovative digital technologies play a key role in advancing financial inclusion worldwide, and the rapid growth of ‘mobile money’ is an entry point for providing broader financial services to many low-income families. These opportunities and the new regulatory challenges were the theme of the Third GPFI/FSI Conference on Standard-Setting Bodies and Innovative Financial Inclusion, held in Basel, in 26-27 October. Hosted by the Financial Stability Institute of the Bank for International Settlements, the conference brought together governments, regulators, supervisors and overseers, and global standard-setting bodies with the timely theme “New Frontiers in the Supervision and Oversight of Digital Financial Services.” Over two-days, participants examined ways to foster financial inclusion through innovation in digital finance while protecting consumers and financial stability.
Sep 28, 2016 |
At the Global SME Finance Forum that took place in September 19-21, in Beijing, China, leaders from banks, fintech companies and development finance institutions discussed innovations to unlock new opportunities in small business finance following the recently endorsed G20 Action Plan on SME Financing Implementation Framework. During a three-day conference, four hundred representatives of leading banks and financial technology firms from 50 countries gathered in Beijing discussed how to leverage technology, big data, bitcoin and artificial intelligence towards transforming small business finance. Participants in the SME Finance Forum. Photo credit: SME Finance Forum
Sep 13, 2016 |
G20 Leaders committed to taking “concrete actions” to accelerate access to finance globally, “particularly in the area of digital financial inclusion”. Participants in the G20 Hangzhou Summit. Photo credit: OECD
Aug 17, 2016 |
Under the leadership of the Chinese G20 Presidency, the G20 Global Partnership for Financial Inclusion (GPFI) developed a new set of High-Level Principles that encourage governments to promote a digital approach to financial inclusion. These Principles were endorsed by the G20 Finance Ministers and Central Bank Governors at their meeting in Chengdu on July 22-23, 2016. Download here: G20 High-Level Principles for Digital Financial Inclusion Download here: One-page summary G20 High-Level Principles for Digital Financial Inclusion
Aug 10, 2016 |
Under the leadership of the Chinese G20 Presidency and in consultation with G20 members and GPFI Implementing Partners, new indicators have been added to the set of G20 Financial Inclusion Indicators to measure the use, availability, and quality of digital financial services. Photo credit: Simone D. McCourtie / World Bank The expansion and revision of the existing set of G20 Financial Inclusion Indicators is driven by the development of new digital models, as well as the availability of new data on both the demand for and supply of digital financial services. Technology has a vital role to play in promoting the spread of financial inclusion, especially when it comes to accounts that can be accessed more affordably and conveniently through a mobile device.
Jul 29, 2016 |
In the context of the G20 agenda, the 2016 Forum of the Global Partnership for Financial Inclusion (GPFI) was held on July 18-19, 2016 in Chengdu, the capital of the Sichuan Province of China. The events were organized by the People’s Bank of China (PBOC). Along with Turkey and Germany, China is a 2016 GPFI co-chair. In this context, Mr. Guo Qingping, Deputy Governor of PBOC, and Mr. Wang Minghui, Vice Governor of Sichuan, both delivered keynote speeches.
Mar 14, 2016 |
The first GPFI workshop this year was hosted by the People’s Bank of China on 1 – 2 March 2016, under the leadership of China, Turkey and Germany as this year’s GPFI Co-Chairs. Mr. Yi Gang, Deputy Governor of PBOC, Mr. Tu Guangshao, Executive Vice Mayor of Shanghai, and Mr. Li Guohua, President of Postal Savings Bank of China gave the keynote speeches. Participants discussed issues such as global trends of financial inclusion, reaching “the last mile” of financial inclusion, private sector engagement and the role of government in financial inclusion, focusing particularly on digital financial inclusion, financial inclusion data collection and financial inclusion indicators update.
GPFI Approves 2016 GPFI White Paper, Global Standard-Setting Bodies and Financial Inclusion: The Evolving Landscape
Feb 28, 2016 |
There is growing recognition of the impact of the global financial sector standard-setting bodies (SSBs) on who gets access to what range and quality of formal financial services and at what cost. Appreciation has also grown as to the important role that digitization of financial services plays in reaching financially excluded and underserved customers, and the implications of this development for the SSBs. Released almost five years after the October 2011 GPFI White Paper, Standard-Setting and Financial Inclusion for the Poor—Toward Proportionate Standards and Guidance, this second GPFI White Paper seeks to raise awareness of the changing landscape of financial services, to inform ongoing work by the SSBs and other global bodies, and to promote the integration of financial inclusion objectives into standards and guidance that can be applied effectively at the country level. See the 2016 GPFI White Paper, Global Standard-Setting Bodies and Financial Inclusion: The Evolving Landscape.
Feb 1, 2016 |
China has announced 2016 GPFI priorities and key dates in the Global Partnership for Financial Inclusion (GPFI) China 2016 Priorities Paper released in January. Events In 2016, China will host the GPFI Meeting on March 3 in Shanghai, the GPFI Forum on July 13-14 in Chengdu and GPFI Plenary on July 15 in Chengdu. China will also hold two workshops, one in Shanghai on March 1-2 with the theme of “New Development and Indicators Update” and one in May with the theme of “Financial Consumer Protection and Financial Literacy.” The third GPFI Standard-Setting Bodies (SSBs) Conference will be hosted by the Financial Stability Institute at the Bank for International Settlements on October 26-27. Priorities
Feb 1, 2016 |
China officially assumed the presidency of the G20 on December 1, 2015. China’s G20 Presidency in 2016 will work together with all members “Towards an Innovative, Invigorated, Interconnected and Inclusive World Economy." The key agenda items are: