Tag: access to finance

 

Global Efforts to Combat Financial Exclusion Forge Ahead

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In November 2015, CGD published a report on the unintended consequences of anti-money laundering policies for poor countries, focusing on three groups: migrant workers who send remittances to their families, vulnerable people who are displaced by conflict or natural disasters and are in need of foreign assistance, and businesses that rely on cross-border trade. Since then, the international community has made several efforts to address the problem of financial exclusion created in part by these policies. 

How Do India’s Payments Banks Measure Against Key Principles for Financial Inclusion?

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Keeping in mind the low levels of financial inclusion in the country, the Indian authorities have developed a broad strategy to improve access to financial services, as outlined in the report by the Committee on Comprehensive Financial Services for Small Business and Low Income Households, led by Nachiket Mor. Among the committee’s recommendations, payments banks are one innovative tool to further India’s goal of greater financial inclusion.

CGD and IMF Join Forces to Discuss Financial Inclusion

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Does broadening financial access to large segments of the population pose risks to financial stability? Not necessarily, according to recent remarks by IMF managing director Christine Lagarde. Increasing access to basic financial transactions such as payments does not threaten financial stability, especially when appropriate supervisory and regulatory frameworks are in place. In fact, with the right regulatory supervision, increased access to financial services can result in both micro and macro benefits. Recognizing the macroeconomic and regulatory dimensions of financial inclusion, CGD and the IMF joined forces for a seminar to kick off the IMF Spring Meetings 2016.

Better Regulation Can Improve Financial Inclusion

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Poor regulation is a key obstacle to financial inclusion. An enabling regulatory environment is critical for creating incentives for businesses to offer innovative financial services to the poor, and for underserved customers to take up formal financial services.

Destination Havana: Getting Investment Flowing Might Be Tougher Than You Think

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Lifting the trade and investment embargo on Cuba is a laudable policy objective that would allow Cubans better access to American goods and services. It might also give American businesses a boost, including from places that could do with one, like rural Louisiana. Changing the law will be an uphill struggle unless November’s elections transform Congress. But even if Congress can agree, changes to the law might not be sufficient to convince investors to go to Cuba.

A Call for Action on De-Risking – Podcast with US Treasury Under Secretary Nathan Sheets

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Recently, CGD launched a major report about how laws designed to prevent money being sent overseas to terrorists and criminals can also have unintended consequences for innocent people in developing countries. Dr. Nathan Sheets, US Under Secretary of Treasury for International Affairs, called for banks and policymakers to "commit significant resources and take on new responsibilities" in order to address this challenge.

To the G-20: Unleash the Potential of Digital Technology for Improving Financial Inclusion

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Financial inclusion is a key development focus in Turkey’s agenda for the G-20 summit beginning this weekend (November 15). I am pleased to note that the international community’s efforts to broaden financial inclusion have continued to gain momentum since the 2010 G-20 Summit in Seoul, where the leaders of G-20 endorsed the Financial Inclusion Action Plan. The plan was built on the G-20 Principles for Innovative Financial Inclusion, which reinforced earlier recommendations in a 2009 report by CGD, Policy Principles for Expanding Financial Access.

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