Certified Expert in
Financial Inclusion
Policy (CEFI)

Certified Expert in
Financial Inclusion
Policy (CEFI)

Want to become a certified expert in financial inclusion policy (CEFI)? The CEFI online training module is currently in its ninth session and registration is open for the next round of graduates to start in September 2021!

Launched in 2017 by AFI, in collaboration with the Frankfurt School of Finance & Management, participants will benefit from the first-rate education experience of a top-ranked business school combined with expertise from the world’s leading organization for financial inclusion policymakers.


Financial regulators, policymakers and supervisors who are working on developing policies, regulations and strategies for financial inclusion

Management and staff of financial service providers – both banks and non-banks -, and financial inclusion professionals who need to be aware of regulatory aspects to help design and deliver financial services that promotes financial inclusion

Staff of AFI member institutions who are new to financial inclusion or interested in making a career change in financial inclusion

AFI member institutions that are setting up new units specializing in financial inclusion

AFI member institutions that are developing comprehensive financial inclusion strategies

AFI public-private dialogue (PPD) partners who want to further their policy understanding for financial inclusion

This provides an understanding of the design and implementation of regulatory frameworks that help promote financial inclusion. The seven units are as follows:

Unit 1Aligning the Goals of Financial Inclusion, Integrity and Stability
Unit 2Measuring Financial Inclusion
Unit 3Digital Financial Services
Unit 4Consumer Empowerment and Market Conduct
Unit 5MSME Finance
Unit 6Microcredit, Microsavings and Microinsurance
Unit 7National Financial Inclusion Strategies


Learn more about units


This online course targets the policy aspects of financial inclusion. Participants will develop skills to draft and analyze policies and design strategies that are most relevant to emerging economies.

The structure is flexible and available online. Participants will be able to complete the course within six months at their own convenience.

Upon completion, participants will receive certification from a world-class educational institution.
Participants will receive input from technical experts and learn from their peers through discussion forums.

The course has been designed so that it can be completed while participants are in full-time employment.

The course is priced at EUR1,550. Registrations received before or on 15 July 2021 are eligible for an early bird discount. With an early bird discount, the pricing of the course is EUR1,350. Paid-up AFI member institutions will enjoy a further discount of EUR 300.

Course feesAFI member institutionsNon-member institutions
Price before 15 July 2021EUR 1,350EUR 1,350
Price after 15 July 2021EUR 1,550EUR 1,550
Price for paid-up AFI member institutionsEUR 1,050Not applicable
Certificate fee

Digital Certificate – Free
Hard copy certificate- Euro 50

Digital Certificate – Free
Hard copy certificate- Euro 50

The final exam takes place online for 2 hours.

Register directly through the website of the Frankfurt School of Finance & Management here.

Please note that discounts can only be granted if participants chose “bank transfer” as payment option. Frankfurt School can cater for PayPal or credit card payment at a later stage upon request.

The course runs twice a year (March-August; September-February) and must be completed within six months.
The program structure is flexible and can be self-paced with an estimated total workload of 150 hours, or 5-7 hours per week, including self-study, online lectures, reading and final exam preparation.

Each unit ends with an online test which will consist of multiple choice questions. Participants are required to pass these tests in order to get access to the subsequent module. The final exam takes place online. In order to take the final exam digitally, you will need to ensure having microphone and webcam for proctoring, as well as stable power connection pr a fully chargeable laptop in case you are located in a region experiencing often power cuts.

Upon successful completion of the exam, the Frankfurt School will issue a certificate that earns participants six European credit transfer system (ECTS).

If the exam is not taken or failed but participants have completed the course work, a confirmation of course completion can be issued by Frankfurt School on request.

CEFI is an integral part of the Frankfurt School’s Online Master of Leadership in Development Finance. As such, a CEFI alumni taking the online master gets the CEFI recognized both for the syllabus and tuition fees.

Please get in touch with us at Capacity.Building@afi-global.org if you have any questions.

Download course brochure

Congratulations to AFI staff on becoming Certified Experts in Financial Inclusion (CEFI) as part of a joint online initiative by AFI and Frankfurt School of Finance & Management. Your knowledge is already helping foster financial inclusion and mitigate the negative socio-economic impacts of the pandemic across our network.

© Alliance for Financial Inclusion 2009-2021