A Timeline of National Financial Inclusion Strategies

> Posted by Jeffrey Riecke, Communications Assistant, CFI

If you regularly follow financial inclusion news, you probably come across articles on the financial inclusion progress of particular countries all the time. Just today I read headlines on the extent of inclusion in Bangladesh as compared to other South Asian countries, on the growing mass of mobile money subscribers in Kenya, and on life insurance penetration in India. Last week we added to the conversation with a post on Nigeria’s financial inclusion strategy. Keeping track of all these national developments is a challenge, even for those of us who have the opportunity to focus much of our attention on financial inclusion.

Earlier this month AFI released the National Financial Inclusion Strategy Timeline, a document that chronicles the steps AFI member institutions have taken in recent years to develop and implement national financial inclusion strategies in their countries – a resource any of us financial inclusion media junkies can embrace. Created by AFI’s Financial Inclusion Strategy Peer Learning Group (FISPLG), the timeline is organized by region and lists national-level developments for 28 countries from 2007 to the present. Here’s the Sub-Saharan Africa region section.

In looking at the timeline, a few trends quickly come to the surface. Not surprisingly, there’s been an increase in inclusion activity among central banks and financial regulatory institutions in the past few years. Specifically in 2013, a number of countries have drafted or implemented national strategies, including the Philippines, Thailand, Belarus, Turkey, Nepal, and Tanzania. Another trend expressed in the timeline is the rise of branchless banking, with many countries developing guidelines for agent and mobile banking.

The National Financial Inclusion Strategy Timeline was created by the FISPLG at their second group meeting, held in Bangkok in March earlier this year. The group, created last year, is designed to support AFI members with the challenges of developing and implementing national strategies by documenting and sharing the experiences of the group’s members. To access the full timeline document, click here.

Have you read?

‘What AFI Is Doing Is Unprecedented –  Beth Rhyne on the Global Policy Forum

Getting Inside the Heads of Policymakers – AFI Survey Sheds Light on Financial Inclusion Policymaking

Ensuring Consumer Protection in the Caribbean