Нэмэгдсэн: 2018-10-31 04:00:00

The host city of the 2014 Winter Olympics and 2018 World Cup– Sochi, Russia -was the venue for the Alliance for Financial Inclusion’s (AFI) Global Policy Forum (GPF) last month. The GPF was co-sponsored by the AFI and the Central Bank of Russia (CBR).

The 2018 GPF, with more than 100 member-institutions, representing 90 countries, was a well-attended and comprehensive forum for regulatory institutions. Delegates discussed and debated - very openly – a range of topics that included: digital financial services, regulatory approaches to FinTech, and other issues related to financial inclusion.

The Financial Regulatory Commission (FRC) of Mongolia became a member of the AFI in 2009, and has since joined all six of its working groups. Dr Davaasuren Sodnomdarjaa, Chair of the FRC, was elected as a member of AFI’s Board of Directors in 2017, and the FRC has shown active participation in AFI initiatives, especially since becoming a Board member.

AFI’s Eastern Europe and Central Asia Policy Initiative (ECAPI) was launched after it was approved by member institutions from the region, including: Armenia, Belarus, Georgia, Kazakhstan, Mongolia, Russia, Tajikistan and Uzbekistan. The members of ECAPI plan to work closely on improving the availability and quality of financial services across the region, protecting consumer rights and financial markets, and increasing financial literacy. Dr Davaasuren Sodnomdarjaa, and Elvira Nabiullina (Governor of the CBR) contributed to the launch of ECAPI.

At Sochi, the AFI celebrated its tenth anniversary, held its13th Board of Directors’ meeting and looked back at its past year’s work and accomplishments. It also approved the coming year’s action plan and budget. During the meeting, election of the Deputy Director of the Board was conducted, and the Deputy Governor of the Central Bank of Egypt was duly selected.

Delegates of the GPF acknowledged the increased contribution of FRC in AFI initiatives. Dr Davaasuren Sodnomdarjaa delivered a speech to the GPF and addressed some indicators of financial inclusiveness in Mongolia. For example, ratios related to financial inclusion are relatively high, numbers of bank account holders (and other indicators) are similar to levels in developed countries, and there is no gender gap with respect to financial services.

Dr Davaasuren Sodnomdarjaa also addressed the relationship of financial markets and innovation; suggesting innovation was significant for market development and should be used efficiently and effectively as a way to increase financial inclusion.

The closing ceremony of the 2018 GPF concluded with the reveal of the National Bank of Rwanda as the host of the 2019 GPF. Meanwhile, the next - 14th – meeting of the AFI Board will take place in December 2018, via teleconference.

The high-level public private dialogue on financial inclusion, the launch of ECAPI and other initiatives, are indicative of FRC’s contributions in the GPF. All decisions taken at the GPF will carry through into the programmes and activities of the AFI network.