2020-09-11

Members celebrate unanimous policy model endorsement

Congratulations to the AFI members, partners and donors who contributed to the network’s two newest models, unanimously endorsed at the 2020 Annual General Meeting on 9 September.

Each took a year to create and codify decades of member experience and best practices that will guide the development and implementation of future financial inclusion policies and regulations.

Policy Model on Consumer Protection for Digital Financial Services

Responding to the fast-paced growth of digital financial services and the accompanying risks to consumer protection, the policy model serves as a compendium of approaches, frameworks and directives to guide practical regulatory and policy approaches on consumer protection regulation for digital financial services.

Jointly produced by AFI’s Digital Financial Services Working Group and Consumer Empowerment and Market Conduct Working Group, it addresses the need of regulators to create and adapt consumer protection regulations and interventions that reflect the deepening role of digital financial services.

Built around five pillars – policy and regulatory environment; product development and service delivery; consumer awareness; complaint and redress; supervision and enforcement; and cross cutting issues – with corresponding guiding principles and key policy recommendations, it provides best practices and industry insight from within the AFI network.

Policy Model for National Financial Inclusion Strategy

Produced by the Financial Inclusion Strategy Peer Learning Group, the policy model provides guidance on the development and implementation of national financial inclusion strategies to achieve financial inclusion goals. It also advocates continued private sector involvement to ensure the integration of financial inclusion approaches and enable relevant adjustments.

Built on more than 10 years of expertise from across the network in developing and implementing national financial inclusion strategies to further financial inclusion goals, the policy model’s outcome-centric focus means that it can be adapted to suit various country contexts and challenges.

Eleven members contributed to the knowledge product, namely institutions in Eswatini, Fiji, Jordan, Mexico, Palestine, Paraguay, Samoa, Tanzania, Uganda and Zambia.