27 September 2010: The second annual AFI Global Policy Forum was officially opened by His Excellency Dr Susilo Bambang Yudhoyono, President of the Republic of Indonesia.
In his keynote address, he reflected back to the context of the first annual AFI Global Policy Forum in Kenya a year ago when the world was under great stress and uncertainty due to the global financial crisis. He noted that in this crisis an opportunity presented itself to rebuild a global financial system that was more equitable and inclusive to the more than two billion people that do not have access under the existing regime. He listed six conditions that governments and policymakers must consider for financial inclusion to become a reality:
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- Leadership: governments need to take the lead and commit to a focused effort on financial inclusion
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- Accountability & coordination: clear roles within and between government, and other stakeholders including the private sector
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- Diversity: promote competition and market based incentives
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- Innovation: both technological and institutional
- Strong regulatory framework: to ensure certainty, trust and stability
The president concluded by urging participants to “make this Forum a bridge between our national, regional, and global efforts” and to synergize efforts and share knowledge to eradicate poverty through financial inclusion.