Chris De Noose says proportionate regulation stimulates the vital role of locally rooted banks during his address last week at the International Microfinance Seminiar in Peru
>> Learn more about the event (offsite, en español)
>> See the ESBG report on proportionality
>>See the WSBI strategy for reaching the World Bank's Universal Financial Access Goals
Arequipa, 21 April 2016 – WSBI Managing Director Chris De Noose called for better regulation that is proportionate and takes into account the level playing field for all banks. A "one size fits all" approach harms the vital role of locally rooted banks, he said last week during a taped video address to attendees of the International Microfinance Seminar organised by Peruvian WSBI Member FEPCMAC.
Financial inclusion is a key development priority, he continued, before highlighting how dramatically the banking context has changed over the last few years due to a tsunami of regulation, technological developments and a change in customer behavior.
Regarding Fepcmac's business model, which is based on locally active financial institutions that work with private customers, SMEs and local authorities, De Noose called upon the regulator to provide a regulatory framework that is adapted for microfinance, the main focus for FEPCMAC's members. He added that WSBI members such as FECMAC in Peru play a special role in helping communicaties and economies propser.
See the video address below: