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WSBI gives feedback to financial inclusion body on standard-setters’ role

WSBI gives feedback to financial inclusion body on standard-setters’ role

​​​BRUSSSELS, 9 February 2016 – Cooperation between Global Standard-Setting Bodies (SSBs), coupled with a dialogue with industry, will help boost financial inclusion, according to WSBI recent input into the Global Partnership for Financial Inclusion (GPFI) Draft Consultation Document on SSBs. Providing access to finance for the mass population – including in remote areas – requires a level playing field for all stakeholders, policymakers and regulators.

A proportionate approach to rulemaking will be essential, WSBI added, to enable actors involved to spur a diverse financial services landscape. Banks also need to manage and maintain a feasible business case for financial inclusion to be sustainable.

 

About WSBI and Financial Inclusion

WSBI members are committed to building a financially inclusive society. They do this by providing access to adapted financial services to all categories of the population, including poor and low-income households and small entrepreneurs. Their commitment to financial inclusion in outlined in WSBI positions delivered to G20 leaders and spelled out in our commitment to the World Bank Group's Universal Financial Access goal. Financial inclusion projects tackle product accessibility and affordability as well as ways to get closer to clients through proximity networks in both remote and underserved areas.

For more information, contact Aimee Suarez at Aimee.Suarez@wsbi-esbg.org

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Financial inclusion; Proportionality