Financial inclusion
Rajan weighs inclusion challenges as IMF identifies financial stability risks
Reserve Bank of India governor discusses the driving factors behind inclusion and challenges posed to supervisors in IMF panel, following staff note on macroeconomic impacts
DNB director targets better measurement of inclusion
Frank Elderson emphasises the benefits of financial inclusion and says central bank will put forward proposals for financial inclusion index later this week
CPMI launches plan to halt correspondent banking decline
Consultation begins on measures designed to resist the decline of correspondent banking, which is threatening to fragment international payments and damage financial inclusion
Multi-polar system ‘likely’, says ECB executive
Benoît Cœuré considers evolution of global financial system; sees rise of emerging economies leading to greater multi-polarity
CPMI and World Bank say transaction accounts are key to financial inclusion
Joint CPMI-World Bank report stresses importance of transaction accounts in promoting financial inclusion, and offers policy advice for countries looking to improve access to financial services
East African countries top Brookings table on inclusion
Study by think tank in Washington, DC, evaluates inclusion efforts in 21 diverse countries; Kenya, Rwanda and Uganda achieve high scores across categories
Zeti stresses need for good data in promoting financial inclusion
Bank Negara Malaysia governor says better data helps put pressure on countries to improve financial inclusion; offers guidance on how to improve performance
Fiji promotes financial inclusion with dedicated website
Reserve Bank of Fiji and Visa launch a website for the National Financial Inclusion Taskforce, with the aim of ‘bringing about positive behavioural changes towards personal financial management’
IMF paper offers advice on Asian financial integration
Authors suggest improvements to the sharing of information, trade integration, capital market development and a common regulatory framework to improve financial integration in Asia
Central Bank of the Philippines receives international remittances award
Filipino central bank secures award by World Bank, European Commission and the United Nations for its efforts to broaden and deepen the country's financial markets
Improving China's OTC business is a vital for the creation of a multi-layered capital market
Zhu Congjiu, vice-governor of Zhejiang province and former assistant to the chairman of the China Securities Regulatory Commission, explains how the country can effect a multi-layered capital market
Solomon Islands governor shifts financial inclusion focus
Denton Rarawa tells Central Banking the Solomon Islands will meet its target for access to financial services early, and work on improving usage and quality should come next
Bank of Botswana laments productivity ‘constraint’
Central bank recommends range of policies to address low productivity in Botswana, including educational reform, financial inclusion and more efficient public service provision
‘Unbanked’ numbers fall 20%, World Bank study finds
First update to the Global Findex database finds 700 million adults worldwide became new account holders since 2011, but two billion remain without access to basic financial services
Proactive regulation could help a billion to access financial services by 2020
RBI’s unique ID decision helps 33 million people gain access to financial services in six months; proactive approach by regulators could help World Bank offer finance to another billion people
Central banks told to handle financial inclusion with care
Greater inclusion benefits the poor but could damage monetary policy or financial stability if it is not kept under control, BIS research and IMF officials warn
Brazil’s central bank launches financial education website
The Central Bank of Brazil wants to ‘get closer to the population’, thus launching a new website with contents, videos and online courses on financial education
IMF paper finds weak link between Islamic banking and financial inclusion
Empirical link between Islamic banking and financial inclusion ‘tentative and relatively weak’; researchers suggests ways financial inclusion could be better served by sharia-compliant banks
Good data vital for effective financial inclusion policies
With the World Bank soon to release the first update to its global financial inclusion database, Central Banking speaks to the Alliance for Financial Inclusion on the importance of good data
Central Bank of Nigeria sets up steering committee on financial inclusion
Committee comprising central bank governor and finance minister is tasked with coordinating national strategy; will meet three times per year and approve annual reports
Basel Committee: Microfinance firms may far exceed supervisory capacity
Some banking supervisors may be struggling to cope with the vast number of small firms they are expected to oversee, finds a survey of the interaction between financial inclusion and regulation
Chilean deputy analyses financial education
Chile made good progress in financial inclusion but ‘belatedly noticed that it should be accompanied by adequate financial education’, Enrique Marshall finds in research
IMF paper rejects one-size-fits-all approach to financial inclusion
Working paper published by the IMF argues country-specific characteristics ‘play a central role’ in determining impacts of different policies aimed at improving financial inclusion
Zambian governor fears shariah scholar shortage
Michael Gondwe identifies challenges to the growth of Islamic finance in Zambia, which he believes is necessary to provide affordable products and services to the population