The 6th AFI Global Policy Forum (GPF) concluded in Port of Spain, Trinidad and Tobago, on Thursday after three highly constructive days of meetings that convened more than 400 high-level financial inclusion policymakers and stakeholders, and was broadcast live to a global audience. The Forum was a platform for AFI’s 121 member institutions to debate and examine policy strategies under the overarching theme of “Global Partnerships, National Goals, Empowering People.” There was an increased focus on strengthening the AFI Network’s peer learning approach with the global standard setting bodies (SSBs), as well as the facilitation of dialogue with the private sector to collaboratively advance financial inclusion.

At the Annual General Meeting, AFI announced Malaysia—represented by Bank Negara Malaysia (BNM)—was selected as the host country for AFI’s new headquarters. The international bidding process saw strong proposals from every region of the globe, reflecting the growth and diversity of the AFI Network. BNM Governor Zeti Akhtar Aziz, whose organization hosted the 2013 GPF, was delighted with the decision. “Bank Negara Malaysia is committed to the financial inclusion agenda and is honored to have the opportunity to collaborate with AFI and its membership in advancing the development and implementation of policies that will increase the access to financial services for the unbanked segment in the world.”

This January, AFI will relocate to Kuala Lumpur as part of a much larger process in the organization’s evolution into an independent international organization. “This is an exciting time for the AFI members, and for the cause of financial inclusion,” said AFI’s Executive Director, Alfred Hannig. “The development of our Network is representative of the positive impact that financial inclusion is having around the world. As a permanent international organization, our members will be in an even stronger position to help the world’s unbanked through smart policy solutions.”

The Central Bank of Trinidad and Tobago (CBTT), the 2014 GPF co-host, made a strong statement at the Forum with the announcement of the Financial Inclusion Development Agency (FIDA), and the launch of formal knowledge sharing agreements with Guyana and Suriname. With these efforts CBTT fully achieved its Maya Declaration commitments during its inaugural year as an AFI member—a first for an institution in the Network.

The GPF also deepened AFI’s regional engagement approach. Policymakers made further progress toward a Latin American initiative, and solidified the African Mobile Phone Financial Services Policy Initiative (AMPI) with the launch of a quarterly newsletter for all AMPI members. The Pacific Islands Working Group (PIWG) transformed into the Pacific Islands Regional Initiative, and the potential for a regional initiative within the Caribbean was discussed. The sessions were marked by lively debate and dialogue, an exchange of innovative ideas and renewed dedication from all AFI members to the cause of financial inclusion.

“Access to finance is a challenge for small island states, particularly for the Pacific islands. The benefit we receive from AFI is such that when we attend such forums, we get to hear and learn from peers their experience, lessons and success stories,” said Atalina Enari, Governor at the Central Bank of Samoa. “As we are all in different levels of development, this opportunity allows us to learn from each other and adopt best practices on different ways to tackle such challenges.”

Participants in the “New Developments in Global Standards” session examined how the AFI Peer Learning Program with SSBs contribute to addressing challenges in balancing the implementation of the global standards with national financial inclusion policies. Marina Kahar, Chair of AFI’s new Global Standards Proportionality Working Group, outlined three principal areas in which the global standards present a challenge for financial inclusion policymakers: the enforcement of standards contributing to de-risking by international banks which has led to the withdrawal of remittance services and correspondent banking in some AFI member countries; challenges in implementing the Basel II and Basel III liquidity and capital requirements and the potential impacts on the microfinance and SME sectors; and the difficulties in implementing a balanced approach to AML/CFT, particularly in countries where proving customer identity may be difficult.

The “Public-Private Dialogue Platform on Financial Inclusion Policy” session was presented jointly with senior private sector executives representing the banking, payment platforms and telecommunications industries. Panelists presented their thoughts on how to take the public private dialogue forward in a way that enables AFI to play the role of honest broker in discussions between financial inclusion policymakers and the private sector. Topics identified as a common priority for AFI members and the private sector included knowledge sharing on new technology and business models, cooperation in capacity building, contribution to AFI working groups in areas where private sector expertise is deemed essential, and support for members’ Maya Declaration commitments. VISA’s Stephen Kehoe summed up the complimentary and mutually supportive role for regulators and providers: “We’re not afraid of regulation—the right regulatory framework is important, transparent, and clarifying.”

The final day of the Forum featured the announcement of new commitments to financial inclusion under the Maya Declaration from six members. Commitments were received from the People’s Bank of China, Comisión Nacional de Bancos y Seguros Honduras, Central Bank of Russia, National Bank of Tajikistan, Banco Central de Timor-Leste, and Royal Monetary Authority of Bhutan.

There are now 53 AFI institutions with commitments under the Maya Declaration, and discussion at the Forum highlighted the importance of supporting measurable commitments to unlock the economic and social potential of the 2.5 billion unbanked people through greater financial inclusion: “Within the World Bank Group, we are realigning resources to support your Maya (Declaration) commitments at the country level,” said Douglas Pearce, Manager of Financial Inclusion Practice at the World Bank.

AFI also introduced the Omidyar Network, a philanthropic investment firm, as the organization’s newest funding partner. “Omidyar Network is honored to become a supporter of the Alliance for Financial Inclusion,” said Arjuna Costa, investment partner at Omidyar Network. “Since its inception in 2008, AFI has had a significant impact on accelerating the adoption of innovative financial inclusion policy solutions.”

At the closing of the Forum, the traditional AFI gong was passed to Governor Ernesto Gove, from Banco de Moçambique (BOM) which will co-host the 2015 GPF in Mozambique and see the AFI Network Forum return to Africa for the first time since 2012.