Global Standards Proportionality
in Financial Inclusion

Global Standards Proportionality
in Financial Inclusion

The adoption of appropriate global standards for financial stability and integrity is of great importance to ensure that financial inclusion is pursued in tandem with safe and sound financial systems.

Standard-setting bodies recognize that the implementation of global standards should be proportionate, risk-based and without unintended consequences for the promotion of financial inclusion, achieving proportionality at the national level can be challenging for a variety of reasons. These include:

  • Capacity challenges in effective implementation of a risk based approach;
  • Inter-agency coordination and data challenges; and/or
  • Insufficient tools to monitor the impact of standards on particular sectors which may have important roles in financial inclusion.

Within the global standards proportionality (GSP) thematic area, AFI members have pioneered and implemented a number of approaches to achieve effective policy approaches which balance financial inclusion, stability and integrity considerations. They are also advancing peer learning and capacity building with respect to the opportunities and risks presented by innovative technologies, mitigating the impact of global bank ‘de-risking’ on affected jurisdictions and ensuring that global standards are implemented with consideration for the financial inclusion of disadvantaged groups, including women, youth, forcibly displaced persons and populations living in rural areas.

Fundamental and emerging topics under GSP are explored in-depth through AFI’s Global Standards Proportionality Working Group (GSPWG).

GSP Maya Declaration commitments by AFI members

GSP, as a thematic area, covers a total of 18 Maya Declaration targets, including those related to the proportionate implementation of both financial integrity and financial stability standards.

Primary thematic area20122013201420152016201720182019

Global standards proportionality

  • Financial integrity
  • Financial identity
  • Financial stability
Maya Declaration targets3355681018
Completed11111334
In progress224455714
Completion rate33%33%20%20%17%38%30%22%

 

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SDGs

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