AFI members meet in Mexico for JLP on proportionate regulations for financial inclusion

A five-day Joint Learning Programme (JLP) on Proportionate Regulations for Financial Inclusion, a capacity building initiative of AFI started today in Mexico City. The JLP is being attended by 20 members from the AFI network from 17 countries, representing 19 institutions and is being held in collaboration with the National Banking and Securities Commission of Mexico (CNBV) and is in its third consecutive year.

The training was opened by Mr. Carlos Orta, Vice President of Regulatory Policy at the CNBV. He highlighted how the JLP will focus on the development of a regulatory framework allowing greater financial inclusion. He noted how the development and progress of modern financial systems depends on the establishment of a global regulatory framework and the effective implementation of this framework in each jurisdiction. Mr. Ort also highlighted the potential of FinTech to accelerate financial inclusion and stressed the need for greater focus and study in this area.

Mr. Orta noted that Mexico allowed the issuing of basic accounts just six years ago and since that time more than 20 million accounts had been opened. This shows the positive impact of proportionate regulation in fostering financial inclusion and the potential benefits that these capacity building programs can provide. Regulation, he said, can contribute to generate confidence, which is critical to develop a solid and inclusive system.

Mr. Jose Loyola, Director of the International Affairs at the CNBV, mentioned in his speech that the financial sector is changing rapidly. As a result he explained, an exchange platform like the AFI JPL is essential to help to ensure regulators have the information they need to adapt and adjust to the impact that these changes are making throughout the country and the region.

Mr. Carlos Moya, Regional Manager for Latin America and Caribbean at AFI, expressed his gratitude to the CNBV team, JLP participants and the AFI team for making this event possible. He referred to the links between this event and the Financial Inclusion Initiative for Latin America and the Caribbean (FILAC) which was formally launched in November 2016, in Cartagena, Colombia. The three key focus areas of FILAC are: Digital Financial Services, Data and Measuring Financial Inclusion and Customer Protection and Financial Education.

Mrs. Maria Fernanda Trigo, Directora General para el Acceso a Servicios Financieros at CNBV, focused on how the technical content for this training was designed in response to the feedback from participants from AFI network. The training will highlight regulations developed and implemented in Mexico as presented by the CNVB team and stakeholders including the WB, IMF, ASBA, CGAP, private sector partners such as GSMA and local implementing agencies. These will be coupled with field visits and supported by interactive exercises which provide ample opportunities to the participants to share their country experience and thus take away practical tips.

JLPs are a key element of AFI capacity building initiatives as it provides the opportunity for a deep dive into technical discussions.