GPFI Conference on Standard-Setting Bodies and Financial Inclusion

02 November 2012

As an Implementing Partner of the G-20’s Global Partnership for Financial Inclusion (GPFI), CGAP continued its engagement with global standard-setting bodies (SSBs) on financial inclusion through the organization of the first annual GPFI Conference and Technical Meeting on Standard-Setting Bodies and Financial Inclusion. Convened by the GPFI and hosted by the Financial Stability Institute of the Bank for International Settlements (BIS) in Basel on October 29, 2012, the conference and technical meeting addressed the theme of “Promoting Financial Inclusion Through Proportionate Standards and Guidance.” Participants discussed the progress and challenges faced by SSBs in engaging on financial inclusion.

CGAP is one of four key Implementing Partners for the GPFI, along with the Alliance for Financial Inclusion (AFI), International Finance Corporation (IFC), and the World Bank. CGAP is the lead Implementing Partner for the GPFI Sub-Group on engagement with the SSBs.
 
Participants in the conference included senior policy makers, regulators and supervisors from both G-20 and non-G-20 countries as well as representatives from five SSBs: the Basel Committee on Banking Supervision, the Committee on Payment and Settlement Systems, the Financial Action Task Force, the International Association of Deposit Insurers, and the International Association of Insurance Supervisors
 
Focused on the central theme of promoting financial inclusion through proportionate SSB standards and guidance, the discussions were informed by three Issues Papers highlighting important dimensions of the overall Conference theme: 
 
 
The Conference was followed by a Technical Meeting on October 30, 2012. Also hosted by the Financial Stability Institute of the BIS, this meeting discussed technical aspects and practical dimensions of promoting financial inclusion through proportionate SSB standards and guidance.
 
At the broadest level, the GPFI SSBs Conference and Technical Meeting respond to the call of the G-20 Leaders in the 2011 Cannes Summit Declaration, reaffirmed at their Los Cabos Summit, to explore the complementarities of the work of SSBs and that of the GPFI, and to encourage the SSBs to consider the recommendations and lessons learned from the GPFI white paper led by CGAP entitled “Global Standard-Setting Bodies and Financial Inclusion for the Poor – Toward Proportionate Standards and Guidance” and country case studies on the same topic commissioned by AFI. 
 
Related information: