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Financial inclusion is the availability and equality of opportunities to access financial services. [1] It refers to processes by which individuals and businesses can access appropriate, affordable, and timely financial products and services—which include banking, loan, equity, and insurance products.
The Maya Declaration is a global initiative for responsible and sustainable financial inclusion issued by the Alliance for Financial Inclusion that aims to reduce poverty and ensure financial stability for the benefit of all. It is the first global and measurable set of financial inclusion commitments by developing and emerging economies.
Financial Inclusion Data (FID) [19] Builds knowledge and good practices on areas related to financial inclusion measurements, such as indicators, methodologies, global standards and principles. Financial Inclusion Strategy (FIS) [20] Promotes the development, implementation, and monitory and evaluation of national financial inclusion strategies.
The objective of the committee was to examine the existing policy regarding financial inclusion and to form a five-year action plan. [4] [5] The plan had several components with regard to payments, deposits, credit, social security transfers, pension and insurance. [5]
The Subcommittee on Diversity and Inclusion was created for the 116th United States Congress by Chairwoman Maxine Waters. [ 1 ] [ 2 ] However, under Republican control during the 118th Congress, the subcommittee expanded its focus to include digital financing, including cryptocurrency.
This financial inclusion campaign was launched by the Prime Minister of India Narendra Modi on 28 August 2014. [2] He had announced this scheme on his first Independence Day speech on 15 August 2014. Run by Department of Financial Services, Ministry of Finance, on the inauguration day, 1.5 crore (15 million) bank accounts were opened under this ...
The first AFI GPF [4] was held in Kenya in 2009 and focused primarily on the promotion of the benefits of a knowledge exchange platform of peers. [5] [6] In his opening remarks, the governor of co-host Central Bank of Kenya, Prof. Njuguna Ndung'u, summarized the goal of the AFI GPF when he stated, "we will, over the next ten days, share experiences on smart financial inclusion policies that ...
It is also rooted in an increasing awareness of diversity of the financial service needs of the world's poorest people, and the diverse settings in which they live and work. It also acknowledges that quality and range of financial services are also important for the banking system to achieve fuller and deeper financial inclusion, for all.