Wrap up
Frankfurt School of Finance & Management
Expectations
2
Financial Inclusion / NFIS Definition of financial inclusion, vision of where to go, targets to achieve Reliable high quality data (demand and supply side) and diagnostic as basis to define indicators to build a proper financial inclusion agenda for the country Leadership and Coordination as big challenge Monitoring and Evaluation: Countries need regular tracking of progress to ensure accountability, feedback loop and adjustment of policies Different countries are at different stages of strategy development and implementation. There exists a big diversity in country approaches.
There is no one-size-fits-all approach. Each country has to take into account its specific background based on the data and the environment. Even the best strategy might be adjusted in case of external shocks. 3
Data & Diagnostics Reliable, high quality demand and supply-side data as basis for diagnostic, definition and formulation There are many different initiatives with focus on supply and/or demand side • AFI core set of indicators as common framework for measuring financial inclusion Objective of data might differ depending on interest of government/organisation Costs for surveys seem high but long-term impact of improved FI on overall inclusive growth has to be considered Good data is the most fundamental pillar.
4
Coordination & Leadership Mostly, central banks are taking leadership role in NFIS NFIS formulation and development requires consultative process that includes private sector as well Definition of leadership and coordination can be very different. Challenges vary across countries Three examples: • Tanzania: Communication is a crucial factor • Indonesia: Coordination mechanism must be an integral part of FIS • Bangladesh: Prioritization, measurable goals and targets contribute to success
Good and strong leadership, involvement of all parties from the very beginning to create high commitment is widely accepted. 5
Experience sharing • Concrete examples from diverse set of countries (Tanzania, Uganda, Bangladesh, Indonesia, Malaysia, Palestine, El Salvador, India, Morocco and Turkey) • Experience sharing with donors / international organizations • Networking and knowledge sharing among participants • Use of theoretical knowledge to develop own strategy
Experience sharing enables to learn lessons from other countries and avoid potential mistakes.
6
Thank you very much for your attention!
Kathrin Meyer Frankfurt School of Finance & Management Sonnemannstraße 9-11 60314 Frankfurt am Main [email protected]
7
Expectations
2
Financial Inclusion / NFIS Definition of financial inclusion, vision of where to go, targets to achieve Reliable high quality data (demand and supply side) and diagnostic as basis to define indicators to build a proper financial inclusion agenda for the country Leadership and Coordination as big challenge Monitoring and Evaluation: Countries need regular tracking of progress to ensure accountability, feedback loop and adjustment of policies Different countries are at different stages of strategy development and implementation. There exists a big diversity in country approaches.
There is no one-size-fits-all approach. Each country has to take into account its specific background based on the data and the environment. Even the best strategy might be adjusted in case of external shocks. 3
Data & Diagnostics Reliable, high quality demand and supply-side data as basis for diagnostic, definition and formulation There are many different initiatives with focus on supply and/or demand side • AFI core set of indicators as common framework for measuring financial inclusion Objective of data might differ depending on interest of government/organisation Costs for surveys seem high but long-term impact of improved FI on overall inclusive growth has to be considered Good data is the most fundamental pillar.
4
Coordination & Leadership Mostly, central banks are taking leadership role in NFIS NFIS formulation and development requires consultative process that includes private sector as well Definition of leadership and coordination can be very different. Challenges vary across countries Three examples: • Tanzania: Communication is a crucial factor • Indonesia: Coordination mechanism must be an integral part of FIS • Bangladesh: Prioritization, measurable goals and targets contribute to success
Good and strong leadership, involvement of all parties from the very beginning to create high commitment is widely accepted. 5
Experience sharing • Concrete examples from diverse set of countries (Tanzania, Uganda, Bangladesh, Indonesia, Malaysia, Palestine, El Salvador, India, Morocco and Turkey) • Experience sharing with donors / international organizations • Networking and knowledge sharing among participants • Use of theoretical knowledge to develop own strategy
Experience sharing enables to learn lessons from other countries and avoid potential mistakes.
6
Thank you very much for your attention!
Kathrin Meyer Frankfurt School of Finance & Management Sonnemannstraße 9-11 60314 Frankfurt am Main [email protected]
7
