After three years, since the last GPF gathering in Kigali, Rwanda in 2019, AFI members, together with partners and stakeholders, will meet physically at the Dead Sea, Jordan. The Central Bank of Jordan and AFI are co-hosting the 2022 AFI GPF, organized from 5 to 8 September at the Dead Sea, Jordan, a country known for its unparalleled hospitality and rich history.
The AFI GPF 2020-2022 will bring together a wide variety of voices and perspectives of members, partners, and global stakeholders on financial inclusion beyond the pandemic. This year’s deliberation is part of the continued efforts to devise and implement smart, holistic and robust financial inclusion policies and regulations that ignite inclusive and sustainable economic growth and encourage financial stability and integrity.
Central Bank of Jordan (CBJ) is one of the leaders in the Arab region and in the AFI network and has pioneered innovative financial inclusion policies that have increased economic growth, decreased poverty and inequality, improved financial and social well-being, and contributed to financial stability. Innovative financial inclusion policies have empowered the unbanked, underserved, and low-income segments, including FDPs, women, youth, disabled people, and MSMEs. These policies enabled them to contribute to and profit from a more equal and sustainable development.
By 2020, Jordan’s National Financial Inclusion Strategy achieved 50% financial inclusion, up from 33.1 percent in 2017 when it was launched. Jordan also lowered financial inclusion gender gap from 53 to 29 percent. In the World Bank’s Doing Business 2020 Report, Jordan rated 4th in credit index, up from 134 in 2019.
CBJ is currently working closely with its stakeholders to develop the “Enhancing the Dissemination, Usage and Acceptance of Electronic Payment in the Kingdom Strategy (2022-2025)” to set appropriate policy actions that will boost the usage and acceptance of digital payment in the country while considering the local gaps and challenges.
Together with international partners and stakeholders, the CBJ is also developing a “Green Finance Strategy”, a road map that prioritizes green investment over business-as-usual investments. The Strategy is considering the inclusion of climate change risks in banks’ business models, while promoting the financial system efforts to disclose and report these risks in accordance with the international established practices.
This year’s GPF will reflect on contemporary financial regulation, which in addition to monetary and financial stability objectives, also addresses financial inclusion, inclusive and sustainable economic recovery, rebuilding societies, and ultimately sustainable growth.
We will explore the themes of financial inclusion and sustainability in four pillars:
Against the backdrop of these four pillars, the 2022 AFI GPF look ahead to the next 10 years as economies are rebuilt following economic shocks caused by the global pandemic. The 2022 AFI GPF will also showcase Jordan’s financial inclusion journey and the AFI network’s abundant and diverse experiences in implementing sustainable and pioneering financial inclusion policies, joint coordinated efforts among all players are essential to ensure we continue to increase inclusion and resilience for all.
The tagline of the 2022 AFI GPF, “Moving forward together: Towards a resilient, inclusive and sustainable future” aims to highlight that the network and the various stakeholders are coming together to deliberate and respond to financial inclusion goals beyond the pandemic and look forward into the future. As financial regulators and policymakers strategize to help individuals and businesses recover and prepare for future crises, we need to ensure policies and their outcomes remain resilient, inclusive, and sustainable. Moving forward and expanding greater financial inclusion can only be done together, as we face similar challenges and develop joint solutions.
Al-Khazneh (“the Treasury”) is one of the most spectacular temples and symbols of the ancient Arab Nabatean Kingdom Rose City of Petra, a UNESCO World Heritage Site and one of the “Seven Wonders of the World”. The breathtaking Al-Khazneh and the city of Petra show the mastery of humankind over the power of nature. Located 150 miles south of Jordan’s capital Amman and at a key intersection between the Northern Levant and Arabian Peninsula, it has served as a central hub of commerce and finance for centuries. Prior to the pandemic, Petra was one of the most visited archeological sites in the world, providing significant income for the country and an opportunity to showcase its rich cultural heritage.
As the logo of the 2022 AFI GPF, the iconic Al-Khazneh represents the exceptional skills of the ancient Nabataean Arabs masons who built it, shining a spotlight on the site’s importance in supporting economies across the region and beyond. Echoing the site’s natural geology, the logo’s colors represent the red sandstone hues of the ancient structures and the golden shimmers of the sun and sand. These earthy tones are offset by shades of blue that reflect the colors of the Dead Sea as well as sustainability, symbolizing the 2022 global financial inclusion point of convergence and the 2022 AFI GPF theme.