AFI’s Financial Inclusion Data Working Group (FIDWG) has released its core set of financial inclusion indicators. The group has issued a call to action for their fellow AFI member institutions to gather data using the Core Set to be shared at the upcoming Global Policy Forum (GPF) in Mexico this September.

FIDWG member institutions have already committed to gathering data using the Core Set, and they are hoping other Central Banks and policymaking bodies in the AFI network will join them. Members should submit their country data using the worksheet available in the AFI online member zone.

The core set is the first step in a process that aims at creating a common understanding around data and measurement of financial inclusion. Feedback from other members about the ease and usefulness of the set will be critical in making future adjustments. The core set measures two basic aspects of financial inclusion: access and usage. The access indicators measure the number of access points per 10,000 adults, the percentage of administrative units with at least one access point, and the percentage of the total population living in administrative units with at least one access point. On the usage dimension, indicators measure the percentage of adults with at least one type of regulated deposit account and the percentage of adults with at least one type of regulated credit account.

FIDWG took into account six key principles when selecting the core set: usefulness and relevance, pragmatism, consistency, flexibility, balance, and aspiration. These were developed through the work of a FIDWG subgroup and with the consultation of AFI members and strategic partners. The subgroup consisted of Rochelle Tomas of the Bangko Sentral ng Pilipinas, Alfred Shem of the Central Bank of Kenya, Alejandro Vasquez of Comisión Nacional Bancaria y de Valores (CNBV) – Mexico, and Zarina Abd Rahman of Bank Negara Malaysia.

These five core financial inclusion measures were presented to the wider international community on 12 May in Paris during the G20’s Global Partnership for Financial Inclusion (GPFI) meeting. The core set will contribute to the work of the G20 Data and Measurement Sub-group, chaired by AFI Policy Champion Raul Hernandez-Coss (CNBV Mexico), by supporting the subgroup’s goal of strengthening data and developing methodologies and support for countries wishing to set targets.

In the future, FIDWG envisions creating additional tools and knowledge products for financial inclusion data gathering that pool member experiences and lessons learned and look at access, usage, and quality of dimensions of financial inclusion.

For more information, please e-mail:  FIDWG@afi-global.org