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Consumer Empowerment and Market
Conduct Working Group (CEMCWG)

Consumer Empowerment and Market
Conduct Working Group (CEMCWG)

Consumer empowerment and market conduct (CEMC) refers to policies and practices designed to promote stable and inclusive financial services via two interconnected pillars:

  • Empowering consumers to make more informed financial decisions via the provision of information, education and effective avenues for redress
  • Protecting consumers via effective regulation, supervision and enforcement of market conduct by financial services providers (FSPs).


Moses Musantu, Bank of Zambia


Madalitso Chamba, Reserve Bank of Malawi


Wati Seeto, Reserve Bank of Fiji

  • Develop and share a common understanding of good practices, lessons learned and cost-effective policy tools
  • Promote their adoption at national level, as well as in a broader international context

The CEMC Working Group achieves these objectives by:

  • Promoting transparency and disclosure
  • Encouraging effective sales and marketing practices
  • Promoting the harmonization of international initiatives
  • Creating avenues for help and redress
  • Championing the benefits.
  • DFS and Consumer Protection Subgroup (jointly with DFSWG):
    Policy Model on DFS and Consumer Protection.
  • Digital Financial Literacy Subgroup (jointly with DFSWG):
    Guideline Note Digital Financial Literacy and Capability.
  • Financial Education Subgroup:
    Toolkit on Financial Literacy.
  • Complaint Handling in Central Bank Subgroup:
    Toolkit on Complaint Handling in Central Bank.
  • Supervision Mechanisms Subgroup:
    Guideline Note on Impact Assessment of Financial Service Providers.
  • Transparency and Disclosure Subgroup:
    Policy Recommendations on the Effective Redress Mechanisms in AFI Member Countries.
  • Gender Subgroup:
    Risk sharing mechanisms credit guarantees for financing for women.









  • Central Bank of Lesotho
    National Financial Education Strategy and Regulation on Disclosure of Information
  • Royal Monetary Authority of Bhutan
    Bhutan’s Financial Literacy Capability Measurement
  • Central Bank van Suriname
    Draft DSS Financial Inclusion/Education Baseline Study
  • Bank of Uganda
    Financial Literacy Strategy
  • National Bank of Tajikistan
    Disclosure for Credit Institutions
  • Papua New Guinea
    Financial Consumer Protection Framework
  • Royal Monetary Authority of Bhutan
    Guidelines for Financial Consumer Protection
  • Central Bank of Seychelles
    Consumer Protection Regulation
  • Royal Monetary Authority of Bhutan
    National Financial Education/ Literacy Strategy
  • Banque de la République du Burundi
    Consumer Protection Regulation
  • Bank of Sierra Leone
    National Financial Education/ Literacy Strategy
  • SBS Peru
    Help and redress mechanisms (alternative dispute resolution)
  • Central Bank of Armenia
    Help and redress mechanisms (alternative dispute resolution)
  • Ministry of Finance Swaziland
    National financial education/literacy strategies0
  • Banco de la República de Colombia
    National financial education/literacy strategies and help and redress mechanisms (alternative dispute resolution)
  • West African Economic and Monetary Union (WAEMU)
    National financial education/literacy strategies
  • National Bank of the Republic of Belarus
    National financial education/literacy strategies
  • Central Bank of Kenya
    Consumer protection guideline
  • Da Afghanistan Bank
  • Banco Central de la República Argentina
  • Central Bank of Armenia
  • Bangladesh Bank
  • Microcredit Regulatory Authority of Bangladesh
  • Banque Centrale des Etats de l’Afrique de l’Ouest (BCEAO)
  • National Bank of the Republic of Belarus
  • Royal Monetary Authority of Bhutan
  • Banque de la République du Burundi
  • National Bank of Cambodia
  • Banco de la República de Colombia
  • Superintendencia General de Entidades
    Financieras de Costa Rica
  • Banque Centrale du Congo
  • Superintendencia de la Economía Popular
    y Solidaria de Ecuador
  • Central Bank of Egypt
  • Banco Central de Reserva de El Salvador
  • Ministry of Finance of Eswatini
  • Reserve Bank of Fiji
  • Bank of Ghana
  • Banque Centrale de la Republique de
  • Comisión Nacional de Bancos y Seguros
    de Honduras
  • Central Bank of Jordan
  • Central Bank of Kenya
  • Central Bank of Lesotho
  • Central Bank of Liberia
  • Reserve Bank of Malawi
  • Bank Negara Malaysia
  • Maldives Monetary Authority
  • Banque Centrale de Mauritanie
  • Comisión Nacional Bancaria y de
    Valores (CNBV)
  • Financial Regulatory Commission
    of Mongolia
  • Bank Al-Maghrib
  • Banco de Moçambique
  • Bank of Namibia
  • Nepal Rastra Bank
  • Central Bank of Nigeria
  • Palestine Monetary Authority
  • Bank of Papua New Guinea
  • Banco Central del Paraguay
  • Bangko Sentral ng Pilipinas
  • National Bank of Rwanda
  • Central Bank of Samoa
  • Banco Central de São Tomé e Príncipe
  • Ministère de l’Economie, des Finances
    et du Plan du Sénégal
  • Central Bank of Seychelles
  • Central Bank of Solomon Islands
  • Central Bank of Sri Lanka
  • Centrale Bank van Suriname
  • National Bank of Tajikistan
  • Bank of Tanzania
  • Bank of Thailand
  • Banco Central de Timor-Leste
  • National Reserve Bank of Tonga
  • Banque Centrale de Tunisie
  • Ministère des Finances de la République
  • Bank of Uganda
  • Central Bank of the Republic
    of Uzbekistan
  • Reserve Bank of Vanuatu
  • Bank of Zambia
  • Ministry of Finance Zambia
  • Reserve Bank of Zimbabwe


When financial service providers offer measures to consumers to cushion the effects of COVID-19, particularly through access to emergency funds, increasing limits for their credit cards or easy access to additional loans, it stringent oversight and enforcement are required to ensure that consumers are not overindebted. Consumer Empowerment and Market Conduct Working Group webinar on Consumer Protection Amidst A Pandemic: Case of COVID-19 discussed policy and regulatory interventions, opportunities for cooperation and partnership, and the role of consumer protection amidst a pandemic.

- Read More

Policymakers and regulators face the challenge of increasing the level of engagement with financial services while at the same time ensuring consumer protection. Webinar session looked into how to design consumer protection strategies that take into account the behaviors of consumers.

- Read More

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