From 15 to 18 July 2025, AFI and SBS Perú co-hosted a member training session in Lima which explored the regulator’s role in ensuring competitive and inclusive digital financial services. 

“Digitalization is a powerful catalyst for financial inclusion, thanks to innovative technologies and business models with the potential to reach underserved populations,” said SBS Superintendent, Sergio Espinosa. “However, it also presents complex challenges for regulators, who must deepen their understanding of emerging technologies, continually assess and adapt the regulatory perimeter, and strengthen supervisory capacity – all while ensuring consumer protection, and safeguarding the stability and integrity of the financial system.” 

“Regulating for competition is not just a policy choice but a necessity to unlock access to affordable and quality digital financial services for all,” said AFI Head of Capacity Building, Madhurantika Moulick. “This training is designed to help our members evaluate existing competition dynamics, understand how competition enablers can promoting financial inclusion, and identify smart regulatory approaches.” 

AFI members speaking at the event included SBS Perú, Bank of Ghana, Bank Negara Malaysia, Banco Central de Reserva de El Salvador, Central Bank of Egypt, Central Bank of Kenya, Central Bank of Nigeria, Central Bank of Seychelles, Bank of Tanzania, National Bank of Rwanda, Reserve Bank of Zimbabwe, State Bank of Pakistan, and the South African Reserve Bank.  

Given the emerging subject area, experts from a wide range of stakeholder institutions, including UNCDF, Gates Foundation, Center for Global Development and Mastercard were also invited to provide insight and global perspectives.  

Recognizing the importance of competition in establishing an inclusive digital financial system, AFI established the Competition Knowledge Enablers Exchange (CKX) in 2024. It currently comprises 14 AFI member institutions, and aims to equip AFI members with the knowledge and resources to address competition imbalances and develop effective policies.  

AFI’s Competition Enablers Knowledge Exchange is supported by the Gates Foundation.