2018-07-30

Financial Inclusion Strategy and Data, five-day member training co-hosted by BNM and AFI

Together with Bank Negara Malaysia (BNM), the Alliance for Financial Inclusion (AFI) is organizing a member training, Financial Inclusion Strategy and Data Programme from 30 July – 3 August, 2018 in Kuala Lumpur, Malaysia.

Gathering more than 30 participants, representing 33 AFI member institutions from 31 countries, the five-day Capacity Building member training aims to discuss critical developments, emerging issues and AFI’s approach in financial inclusion strategy and data.

During his opening remarks, AFI Deputy Executive Director, Norbert Mumba conveyed that “though [strategy and data] are two distinct policy areas, they are closely linked. Rather than treating strategy and data as two separate policy areas, we have redesigned this training to emphasize the importance of data at every stage of NFIS whether it is pre-formulation, formulation, implementation and monitoring and evaluation of national financial inclusion strategies.”

“Our intent is to create an inclusive financial framework that best serves all members of our society, and of us, constant and expansive engagement with all relevant stakeholders are critical success factors,” highlighted Kristina Rai, Director of the Human Capital Development Centre at BNM.

Participants will explore topics including the four phases of the National Financial Inclusion Strategy (NFIS), common issues related to financial inclusion data, and the linkages between strategy and data.

NFIS is a great tool to ensure that there is a defined way of enhancing financial inclusion and that the progress is measured. It also ensures that the effort is comprehensive and includes all relevant stakeholders. Having a documented NFIS is a key step in ensuring that financial inclusion targets are achieved. The Financial Inclusion Strategy Peer Learning Group (FISPLG) developed a National Financial Inclusion Strategies Toolkit specifically for policymakers and regulators. This toolkit will be used during the member training as a base document to guide participants through a very planned way of development and implementation of national strategies.

At the end of the member training, participants will be able to develop appropriate financial inclusion strategy through the four phases of strategy development: pre-formulation (diagnostics), formulation, implementation and measurement. In addition, participants will learn how to apply effective strategies to enable multi-stakeholder coordination and collaboration throughout the four phases of strategy development.

The member training is conducted by lead trainer and consultant, Sachin Bansal who has over 14 years of international experience in consulting, project management and operations in making financial services accessible to the unbanked. According to Sachin, “on your journey towards drafting financial inclusion regulation, Financial Inclusion Strategy is like the GPS in your car, constantly guiding you with milestones to reach your destination. Organized, clean data is like high octane fuel that makes the journey smooth.”

The member training will also address new policy areas and issues that AFI members are working on such as climate change and financial inclusion, FinTech, inclusive insurance and regulations to support Forcibly Displaced Persons (FDPs).