Financial inclusion
Nepal Rastra Bank pushing banks to focus on rural areas – governor
Inclusion is a key part of Nepal’s five-year financial development plan, Chiranjibi Nepal says, and the central bank has plans to encourage banks to spread from urban to rural areas
Yellen pushing for diversity at Fed and beyond
Fed chair expresses concern at uneven distribution of job gains in US, with African-American unemployment much higher than average; initiatives under way to boost diversity at Fed
Philippines creates financial inclusion steering committee
Central bank will chair the committee, which comprises 12 other government agencies; will follow up on their work creating a national strategy for financial inclusion
PMA aims for better credit allocation with upgraded scoring system
Palestine Monetary Authority rolls out latest version of its credit scoring system; new categories and adjusted variables designed to improve credit allocation
China makes strong start on economic transition
The past year has been one of progress for China’s structural reform plans. Zhang Hongli, IFF Academic Committee member and vice-president of ICBC, examines the forward momentum
Wynter considers financial inclusion in line with AML/CFT risk
Bank of Jamaica governor notes challenge in meeting both AML/CFT objectives and financial inclusion; suggests competent authorities must consider balance between the two
Afghanistan needs to use mobile money better, governor says
Mobile payments cut costs and risk, but take-up is hampered by lack of awareness, confidence and an “all-inclusive ecosystem”, says Sediq
Zeti Akhtar Aziz on crisis management, mandates and capacity building
Bank Negara Malaysia governor Zeti Akhtar Aziz speaks to Christopher Jeffery about her three-and-a-half decades spent tackling crisis management, capacity building and governance
RBI plans to regulate nascent P2P market
Central bank proposes bringing peer-to-peer lending within its regulatory remit, fearing lack of oversight might lead the rapidly growing sector to develop “unhealthy practices”
Fiji central bank will launch second financial inclusion strategy ‘shortly’
Second financial inclusion strategy to place “special emphasis” on insurance; governor praises success of first scheme in meeting targets, but 27% of population remains unbanked
AFI’s Hannig sees central banks bolstering resources to drive inclusion
Alfred Hannig expects central banks gradually to increase resources devoted to inclusion as they take more responsibility for the area; Alliance for Financial Inclusion announces independence
Government approves final stage of Thai development plan
Bank of Thailand will promote electronic payments in latest phase of financial sector master plan; all phases to be completed by 2020
Riksbank flags concerns over pace of development in payments
Tech development proceeding ‘too rapidly’, says central bank; evolution of payments could jeopardise access
Zimbabwe central bank calls for flexibility on SME credit
Number of areas still at risk from financial exclusion; only 14% of MSME owners were banked, and only 1% of the adult population used capital market services in 2014
Zeti stresses need to protect independence when central banks get broad mandates
Central banks in emerging economies often find themselves tackling difficult reforms as they are best equipped for the challenge, she says, but this can only work if certain conditions hold
Report finds 11% of Rwandans remain financially excluded
Women and younger people more likely to be financially excluded; share of population excluded falls from 28% to 11%
Tanzania launches financial education plan
More than 27% of people remain excluded from financial services in Tanzania; improved financial numeracy and risk management among issues to be addressed
Paraguay’s governor on the ‘new normal’ and inflation targeting
Central Bank of Paraguay governor Carlos Fernández Valdovinos explains why the global economy must adapt to the 'new normal' and how Paraguay is coping with falling commodity prices
Visitors to ‘play policy-maker’ at new MAS gallery
Monetary Authority of Singapore launches latest financial literacy initiative; visitors able to ‘play policy-maker’ through interactive programs
IMF paper seeks to capture complexity of financial development in new index
Research presents six ‘subindices’ measuring the depth, accessibility and efficiency of financial institutions and markets, which are rolled into an ‘overall measure of financial development’
Lifetime achievement award: Zeti Akhtar Aziz
Zeti has played a crucial role in efforts to modernise Malaysia’s financial system, and has worked tirelessly to promote Islamic finance, financial inclusion and South-east Asian integration.
Philippines central bank empowers micro-banking offices
Micro-banking offices can open deposit accounts under new measure; central bank reflects on measures taken to boost financial inclusion in 2015 and challenges ahead
Level playing field could help ‘unlock’ Islamic finance potential, says Lagarde
Speakers at the Islamic Finance Conference in Kuwait highlight the growth benefits of financial inclusion, especially for underserved parts of the Muslim population
Book notes: Civic Capitalism, by Colin Hay and Anthony Payne
A book that espouses redesigning capitalism into 'civic capitalism'