AFI Global Policy Forum
The AFI Global Policy Forum has been recognized by leading international financial development organizations and individuals as an important part of the global dialogue on financial inclusion. Participation in the GPF has become a part of the standard dialogue from leaders of regulatory institutions and is often used as an example of the positive efforts taking place to solve the problem of the unbanked. For example, at the 6th Annual Microfinance Conference and Entrepreneurship Awards, the Central Bank of Nigeria's (CBN) Governor Sanusi Lamido Sanusi, spoke of his institution's progress, noting the CBN had "...made a commitment at the 2011 GPF held in Mexico to reduce Nigeria's financial exclusion rate from 46.3 to 20 per cent by 2020."
Global Policy Forum History
GPF 2013 Kuala Lumpur, Malaysia
The 2013 GPF was held on 10–12 September 2013 in Kuala Lumpur, Malaysia under overarching theme of Driving Policies for Optimal Impact. It convened more than 400 senior policymakers, central bank governors, partners from international organizations and private sector leaders. The Opening Ceremony included a speech from the UN Secretary-General’s Special Advocate for Inclusive Finance for Development H.M. Queen Máxima of the Netherlands and a prerecorded video message from Bill & Melinda Gates Foundation Co-Chair Bill Gates. The Forum was a platform to debate and examine policy strategies to optimize impacts on development by enhancing the alignment of financial inclusion, financial stability and consumer protection objectives.
GPF 2012 Cape Town, South Africa
The Alliance for Financial Inclusion's (AFI) annual, landmark Global Policy Forum (GPF) was held in Cape Town, South Africa on 26-28 September 2012, under the overall theme of Making Financial Inclusion Real.
The Forum brought together senior representatives from more than 80 developing and emerging nations’ regulatory institutions from across the globe, along with financial inclusion policy experts and practitioners from AFI’s many partner institutions. The agenda covered technical discussions on the quality of financial access and usage and featured a high level debate and dialogue on both the potential and the real impact of financial inclusion on the lives of the world’s unbanked.
During last year's Forum in Mexico the AFI membership adopted the Maya Declaration, the first global and measurable set of commitments by developing and emerging countries to unlock the economic and social potential of the 2.5 billion poorest people through greater financial inclusion. The GPF 2012 highlighted the progress of the 24 AFI member institutions that followed through with concrete commitments to the Maya Declaration over the course of the previous year. Additionally, on the final morning of the three-day Forum in Cape Town, 19 institutions announced new Maya Declaration Commitments to increase the number of institutional financial inclusion commitments to 35 overall — an impressive achievement that marked the one year anniversary of the Declaration's inception.
GPF 2011 Riviera Maya, Mexico
The 2011 GPF was held in Riviera Maya, Mexico and saw the entire membership adopt the ‘Maya Declaration’, a set of common principles and goals for financial inclusion policy. Seventeen of the participating members also made more specific national commitments toward financial inclusion progress under the basic principles of the Maya Declaration. This marked the first time regulators from the developing world had committed to common principles for financial inclusion policy. The institutions making commitments ranged from those representing large diverse populations such as Mexico and Peru, to smaller nations such as Fiji and the Solomon Islands. Over 300 participants from 80 financial regulatory institutions took part in 2011 GPF, along with representatives from the World Bank, the United Nations, the Gates Foundation and other international organizations.
In his closing remarks, Mexico's President Felipe Calderón Hinojosa stated "...it is so important that we are all gathered here today, public officials, central bank presidents, ministers, secretaries, academics, specialists of over 70 countries, to reflect on the developments and challenges of financial inclusion. It is a key task, since, by opening the doors of credit, savings and insurance to more persons, we are giving more certainty to the present and we are broadening their capacity to build a better future. Financial inclusion is a means to reach greater social justice." At the same ceremony, the United Nations Special Advocate for Inclusive Finance, Princess Maxima of the Netherlands, highlighted that she was inspired to see that GPF participants were at the forefront of innovations in policy, regulation, and supervision, and had now an opportunity to lead developed country banking sectors in this field.
GPF 2010 Bali, Indonesia
The 2010 GPF was held in Bali, Indonesia, and saw the financial inclusion concept recognized as a more formalized and an integral part of financial regulators' work. In his keynote address the President of the Republic of Indonesia, Dr. H. Susilo Bambang Yudhoyono urged the participants to "...Let us make this forum a bridge between our national, regional and global efforts. Let us collaborate and synergize our works to eradicate poverty through financial inclusion. I am convinced that we have just as much to share as we do to learn. We are looking forward to hearing your experiences from Asia, Africa and Latin America so we can be inspired by your ideas and make our own financial system stronger, more inclusive and innovative. Beth Rhyne, the Managing Director of the Center for Financial Inclusion noted after the forum that, "...By bringing together this many policymakers interested in financial inclusion [to the GPF], AFI creates a stronger voice for financial inclusion all around the world. Until now financial regulators have tended to place top priority on financial stability and have often perceived inclusion as a threat to stability. AFI’s work helps to get financial inclusion high on the agenda in a way that it has not been before."
GPF 2009 Nairobi, Kenya
The first GPF was held in Kenya in 2009 and focused primarily on the promotion of the benefits of a knowledge exchange platform of peers. In his opening remarks, the Governor of the Central Bank of Kenya, Prof. Njuguna Ndung'u summarized the goal of the Global Policy Forum when he stated, "We will, over the next three days, share experiences on smart financial inclusion policies that have worked elsewhere. We will thereafter adopt these policies to suit our respective countries as we work together to push forward the global financial access frontiers." GPF 2009 was an enormous success and immediately became a unique milestone event for global financial policy regulators. As noted by Dr. Darmin Nasution, Governor of the Bank of Indonesia "...The success of the world’s first-ever Global Policy Forum on financial inclusion in Nairobi, Kenya in 2009, is evidenced by the fact that financial inclusion is increasingly being recognized as a third strategic pillar in financial systems, alongside stability and integrity, by developing country policymakers. Leaders worldwide are recognizing the potential of a more inclusive financial services sector, and the issue is emerging as a priority..."
Global Policy Forum Participants
Participation in the Global Policy Forum is by invitation only. Invited participants to GPF include senior representatives from the following institutions:
Banco de Moçambique (Bank of Mozambique)
Ministre de l'Economie et des Finances du Burkina Faso
Ministry of Economic and Social Inclusion Ecuador
Ministry of Economic Development and Trade of the Russian Federation
Ministry of Economy and Finance Ivory Coast
Ministry of Economy and Finance of Niger
Ministry of Economy and Finance of Senegal
Ministry of Finance and Economy of Togo
Ministry of Finance Bangladesh
Ministry of Investment
Ministry of Planning and International Cooperation
National Bank for Agriculture and Rural Development
National Credit Regulator, South Africa
Secretaría de Hacienda y Crédito Público de México
Securities and Exchange Commission - Cambodia
Superintendencia de Banca, Seguros Y AFP
Superintendencia de Bancos de Guatemala
Superintendencia del Sistema Financiero de El Salvador
Superintendencia Financiera de Colombia
- "Forum". The Global Partnership for Financial Inclusion. Retrieved 2012-02-23.
- February 9, 2012 (2012-02-09). "Alliance For Financial Inclusion Global Policy Forum". Microfinance Africa. Retrieved 2012-02-23.
- "Solomon Islands shares experience on financial inclusion | Scoop News". Scoop.co.nz. 2011-10-12. Retrieved 2012-02-23.
- Mr. Felipe Calderón Hinojosa, President of the United Mexican States (September 30, 2011). "Closing Remarks - AFI Global Policy Forum, Mexico, 2011" (PDF). The Global Partnership for Financial Inclusion. Retrieved 2012-02-23.
- Princess Máxima of the Netherlands (24 November 2011). "Speech by Princess Máxima of the Netherlands UNSG’s Special Advocate for Inclusive Finance for Development.". Het Koninklijk Huis (The Royal Family of the Netherlands). Retrieved 2012-02-23.
- "Inclusive Finance | The Manila Bulletin Newspaper Online". Mb.com.ph. 2012-01-15. Retrieved 2012-02-23.
- "Developing World Officials Meet To Advance Financial Inclusion for the Poor - US Politics Today". Uspolitics.einnews.com. 2011-09-26. Retrieved 2012-02-23.
- "Second Annual AFI Global Policy Forum: MFW4A - Making Finance Work for Africa". MFW4A. Retrieved 2012-02-23.
- "Keynote Address by President of RI at the 2010 AFI Global Policy Forum". Sekretariat Negara Republik Indonesia. 27 September 2010. Retrieved 2012-02-23.
- ‘What AFI is doing is unprecedented’ — Beth Rhyne on the Global Policy Forum « Center for Financial Inclusion Blog
- "KBC News (Kenya): AFI Global Policy Forum". KBC News (Kenya) via AFI Global and YouTube. Retrieved 2012-02-23.
- "Highlights from 2009 Alliance for Financial Inclusion Global Policy Forum | Mobile Money for the Unbanked(MMU)". Mmublog.org. Retrieved 2012-02-23.
- "Governor's Remarks during 2009 AFI Global Policy Forum - Remarks by PROF. NJUGUNA NDUNG’U, GOVERNOR during the 2009 ALLIANCE FOR FINANCIAL INCLUSION (AFI) GLOBAL POLICY FORUM, Windsor Golf Hotel and Country Club, Nairobi" (PDF). Central Bank of Kenya. September 14, 2009. Retrieved 2012-02-23.
- "Alliance of Financial Inclusion’s Second Annual Global Policy Forum opens in Bali; President of the Republic of Indonesia Delivers Keynote Address - More than 111 senior policymakers from 42 developing countries in attendance" (PDF) (Press release). Bank Indonesia. 27 September 2010. Retrieved 2012-02-23.
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