WSBI ESBG
Corporate Social Responsibility
WSBI and ESBG members are committed to building a financially inclusive society.
Enable financial inclusion around the world
Financial inclusion is a building block for both poverty reduction and opportunities for economic growth, with access to digital financial services critical for joining the new digital economy. Financial inclusion facilitates day-to-day living, and helps families and businesses plan for everything from long-term goals to unexpected emergencies. As accountholders, people are more likely to use other financial services, such as savings, credit and insurance, start and expand businesses, invest in education or health, manage risk, and weather financial shocks, all of which can improve the overall quality of their lives.
1.7 billion adults worldwide don’t have a basic transaction account.
While 1.2 billion people have opened a financial account since 2011, there are still an estimated 1.7 billion adults worldwide (or 31% of adults) who don’t have a basic transaction account. Globally, two-thirds of adults without an account cite a lack of money as a key reason, which implies that financial services aren’t yet affordable or designed to fit low-income users. Other barriers to account-opening include distance from a financial service provider, lack of necessary documentation papers and lack of trust in financial service providers.
Our latest content on financial inclusion
WSBI’s Social and Philanthropic Council unveils Bangkok Declaration
The recently created Social and Philanthropic Council has issued the Bangkok Declaration, a manifesto that includes the commitment of the participating
ESBG provides feedback on EBA public consultation on RTS on Prudent Valuation
The European Savings and Retail Banking Group (ESBG) recently submitted its response to the latest European Banking Authority (EBA)
European Banking Authority (EBA) on ESG risk management
The European Savings and Retail Banking Group (ESBG) submitted its response to the consultation launched by the European Banking Authority (EBA). ESBG insists on the need for consitency with CSRD and…
Enhancing Transparency in Bank Disclosures: ESBG delivers comprehensive response to the EBA’s Pillar 3 data hub consultation
On 14 December 2023, the European Banking Authority (EBA) published a discussion paper on the Pillar 3 data hub processes and its possible practical implications.
IASB Exposure Draft (ED) on Financial Instruments with Characteristics of Equity
On 29 November 2023, the International Accounting Standards Board (IASB) proposed amendments in an Exposure Draft to tackle challenges in financial reporting for instruments with both
