AFI Global Financial
Inclusion Awards

AFI Global Financial
Inclusion Awards

Since 2013, AFI has been annually honoring member institutions and individual policymakers for their contribution and engagement in the AFI network through the AFI Awards. The AFI Awards have been instrumental in enhancing member engagement, globally elevating members’ efforts in advancing financial inclusion through policy innovations and reinforcing best practices through motivating other members to aspire for excellence and contribute to AFI.  

This year, the AFI Global Financial Inclusion Awards, recognize and celebrate achievements in three categories, two of which require members to nominate themselves and submit the relevant nomination form. These two are new high-level awards being launched in 2022.    

Nominate your institution to stand a chance to win! Winners will be announced during a special ceremony at the 2022 AFI Global Policy Forum in September in Jordan, which will be co-hosted by the Central Bank of Jordan.  

The Awards now open for nominations include:  

  • The Nestor Espenilla Jr. Financial Inclusion Innovation Award This is a new High-Level AFI Award that honors the memory and legacy of Governor Nestor Espenilla Jr. of Bangko Sentral ng Pilipinas, a founding member of AFI and a global champion of innovation and inclusion. This prestigious Award aims to recognize AFI members that demonstrate outstanding commitment towards innovation and use of technology to advance financial inclusion.   
  • The Global Youth Financial Inclusion Award This is a new High-Level AFI Award that acknowledges and recognizes financial policymakers and regulators across the globe that are undertaking impactful initiatives, policies or regulations to accelerate the financial inclusion of youth. It is open to AFI members and non-member financial sector regulators and policymakers from any country.   

 

Please read the detailed eligibility and assessment criteria before submitting your nomination form. These can be accessed here. 

The AFI Global Financial Inclusion Awards

Who is eligible
to apply?

This award is open to AFI member institutions that are implementing unique policy innovations that create an enabling environment for the introduction of technological and or business innovations towards addressing challenges of financial inclusion. 

The winner will win support for implementing an ‘Innovation Project’ worth USD 50,000. 

For the Nestor Espenilla Jr. Financial Inclusion Innovation Award, the entrant must be a current paid member of AFI having paid the membership fee for the year 2021.

Criteria for the award

The following criteria will be used to assess submitted nominations:  

  1. Demonstrated commitment to foster new technologies and innovations that drive financial inclusion

  2. Implemented unique or new policy solutions to foster financial technologies and new innovations

  3. Demonstrated existence of market solutions responding to the above policy(ies)

  4. Demonstrated evidence of uptake in access, usage and/or increased quality of financial services as a result of these market solutions

  5. Displayed leadership among peers and enabled knowledge exchange at the global and/or regional level on the theme of new technologies and innovation. 
Innovation Project

AFI will provide support to the winner to implement an ‘Innovation Project’ based on the member’s priorities and needs. The applicants should include a short overview of the proposed project in their submissions. Guidelines for the Innovation Project are as follows: 

    • State the objective and main outcome of the proposed project. This should be clearly linked to advancing innovation and use of technology for financial inclusion. 

    • The nature of the activities proposed should be relevant to the project outcome. Some examples of potential activities include peer-learning program with AFI members or advanced economies, capacity building activities for members’ staff, testing of a regtech/suptech solution.    

    • The nature and scope of the activities should be implementable within a period of 12 months. 

    • The project may be part of an existing initiative or new initiative in the member institution. In case it is part of an existing initiative, please explain how this project adds value to the on-going initiative and what would be the main deliverable of this project. 

The AFI technical team will engage with the finalists to enhance and refine their project ideas.

How to apply?

Eligible AFI member institutions must nominate themselves by completing the nomination form, outlining their institution’s achievements as per the criteria listed above as well as submitting a brief overview of the proposed Innovation Project.  

Deadline for submitting the nomination form is 23:59 Malaysia time (UTC +8 hours), Friday, 10 June 2022. 

Acknowledgment

The Nestor Espenilla Jr. Financial Inclusion Innovation Award is supported by AFI’s funding partner, Flourish Ventures. 

Who is eligible
to apply?

This award is open to any financial policymaking or regulatory institution across the globe that are implementing high impact policy solutions including regulations that address structural barriers preventing the financial inclusion of youth. It is thus open to AFI members and non-members.

Criteria for
the Award

The following criteria will be used to assess submitted nominations: 

  1. Demonstrated commitment in removing structural barriers faced by youth in accessing formal financial services.

  2. Implemented policy solutions addressing specific structural barriers faced by youth.

  3. Demonstrated the existence of financial inclusion initiatives for youth and/or existence of financial services targeting the youth population.

  4. Demonstrated evidence of uptake in access, usage and/or increased quality of financial services that targeted specifically for the youth population.

  5. Displayed leadership among peers and enabled knowledge exchange at the global and/or regional level on the theme of youth financial inclusion.
How to apply

Eligible institutions must nominate themselves by completing the nomination form outlining their institution’s achievements, as per the criteria listed above. 

Deadline for submitting the nomination form is 23:59 Malaysia time (UTC +8 hours), Friday, 10 June 2022. 

Acknowledgment

* The Global Inclusion Awards were originally initiated in 2012 by Child & Youth Finance International (CYFI) and transferred to AFI in 2019

Timeline 

Key milestones for entrants are shown below.  

AFI Global Financial Inclusion Awards, call for nomination

Terms & Conditions

Download it here. For any further inquiries please reach out to us at: afiawards@afi-global.org

© Alliance for Financial Inclusion 2009-2022