AFI’s peer review mechanism is allowing members to critically review and provide constructive feedback on other countries’ draft financial inclusion regulations and policy documents, while also reflecting on and strengthening their own frameworks through insights gained from the review process.

Conducted either online, or in-person during AFI Working Group meetings, “the peer review system lets regulators leverage the successes of other countries while avoiding potential pitfalls, in order to deliver better policies faster,” says AFI Policy Manager, Adeyemi Omotoso.

“This is one of the best services that AFI members have,” says Tsolmontuya Bold, Senior AML/CFT Supervisor at Financial Regulatory Commission of Mongolia, and Chair of AFI’s Digital Financial Services Working Group. “Peer reviewing Bank of Zambia’s national payment system KYC guidelines gave me ideas and information on how we could make our own guidelines better.”

“Peer review of our draft regulatory framework was very useful, and has been incorporated into our draft regulations,” says Jack Dumingu, Manager of Payment Systems Designations at Bank of Zambia. “This feedback will allow us to take these regulations to the next stage.”

You can learn more about AFI’s Peer Review mechanism in the video below.