Maya Declaration’s importance on show at G20 conference in Russia

AFI’s Maya Declaration was showcased during the G20’s “Empowering Consumers of Financial Products and Services through Improved Financial Literacy” conference on 13 June in Moscow, Russia.

During the meeting’s opening session on “Financial education and consumer protection strategies: Complementary foundations to empower financial consumers and promote effective financial inclusion,” World Bank Financial Consumer Protection and Inclusion Expert Rosamund Grady highlighted AFI Maya Declaration Commitments specific to consumer protection and financial capability initiatives.

The session also covered the enhancement of consumer financial knowledge, attitudes and behavior, as well as the establishment of effective consumer protection regimes as two of the essential foundations required to empower financial consumers, to achieve broad and equitable financial inclusion, and to support the development of sustainable and sound financial systems.

The Maya Declaration is the first global and measurable set of commitments by developing and emerging country governments to unlock the economic and social potential of the 2.5 billion ‘unbanked’ people through greater financial inclusion. More than 80 such countries – representing more than 75 per cent of the world’s unbanked population – have supported the Declaration. Click here for more information.