An independent international organization constituted under the International Organizations (Privileges and Immunities) Act 1992 of the Laws of Malaysia since January 2016.
The Alliance for Financial Inclusion (AFI) is a policy leadership alliance owned and led by member central banks and financial regulatory in developing countries with the objective of advancing financial inclusion.[1]
As of November 2023, AFI had 86 members from 82 countries developing and emerging economies, representing central banks, financial regulatory institutions, and financial inclusion policymakers.[2] AFI partners with regulators in advanced economies, international organizations and private sector leaders to drive practical solutions and facilitate the implementation of impactful policy changes through its cooperative model that embeds peer learning, knowledge exchange and peer transformation.
AFI was founded on the idea that a global knowledge exchange platform was key to expanding and improving financial inclusion policies. AFI connects, encourages and enables policymakers to build capacity and develop policy initiatives in areas of financial technology (fintech), consumer protection, microfinance, SME finance, gender inclusive finance, inclusive green finance and other general financial inclusion initiatives in Africa, Asia, Caribbean, Eastern Europe and Caucasus, Latin America, Middle East and Pacific Islands. Each year, AFI holds its flagship event, Global Policy Forum (GPF), the world's largest financial inclusion gathering of policymakers.
AFI is headquartered in Kuala Lumpur, Malaysia, with regional offices in Africa and Latin America, and a representation office in Europe.[3]
History
Origins and until 2008
In 2006, there was an emerging recognition that policies mattered when it came to financial inclusion. There is also a huge sentiment around the potential of digital financial services for increasing financial inclusion for the unbanked population of the world.
Dr. Hannig described the situation in 2006 as follows:[4]
"There was a lot of international debate on financial system development and what the financial sector can do to alleviate poverty through microfinance. ... We were just starting to see the potential of digital financial services for increasing financial inclusion for the unbanked."
Through the Gates Foundation, Dr. Alfred Hannig and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) team successfully received grants to kick-off the first phase of AFI in Bangkok, Thailand and subsequently launched it in Kenya in 2009.
2009 to 2010
Less than two years after its launch, AFI went from an initial founding core group of five member institutions to members in more than 60 countries, representing nearly 70 percent of the world's unbanked population.
In 2009, the network saw the first AFI Global Policy Forum, which was held in Nairobi, Kenya under the theme, A marketplace of ideas. Grants to selected member institutions were introduced.
In 2010, the Group of 20 (G20) nominated AFI as one of three implementing partners for the G20 Global Partnership for Financial Inclusion (GPFI). In this role, AFI brought policies for increasing access to financial services from developing countries to the wider G20 forum and facilitated the participation of non-G20 policymakers in developing and emerging economies participate in GPFI work.[5]
At the 2011 GPF in Mexico's Riviera Maya, AFI members collectively adopted the Maya Declaration, a global initiative for responsible and sustainable financial inclusion that aims to reduce poverty and ensure financial stability for the benefit of all. It is a statement of common principles regarding the development of financial inclusion policy.
More than 30 countries represented by AFI member institutions, went a step further by announcing specific and measurable commitments. As of October 2021, AFI member institutions have made a total of 885 Maya Declarations targets.
The Maya Declaration has paved the way for various other accords. In recognition of these developments, both the G20 and the Group of 24 (G24) highlighted the AFI learning model and the Maya Declaration as key steps toward global economic development, with the G20 urging its members to commit to the Maya Declaration.[6]
2013 to 2018
In 2013, AFI members adopted the Sasana Accord on Evidence- and Data-based Results, Accelerated Progress and Measurement of Impact.[7] During the same year, AFI reached 100 member institutions overall with the addition of the Central Bank of Trinidad and Tobago[8]
In 2015, AFI members endorsed the Maputo Accord, which commits members to support access to finance for small and medium enterprises. It also established its headquarters in Kuala Lumpur, Malaysia, which are hosted by Bank Negara Malaysia.
In 2016, AFI completed the final steps in its evolution from an exclusively donor-funded project into an independent and member-supported international network of policymakers. Members also endorsed the Denarau Action Plan for Gender Inclusive Finance[9] to increase women's access to quality and affordable financial services globally — bridging the financial inclusion gender gap.
In 2017, AFI members adopted the Sharm El Sheikh Accord on Financial Inclusion, Climate Change and Green Finance.[10]
In 2018, AFI set up its Africa Regional Office in Abidjan, Côte d'Ivoire, co-hosted by the country's Ministres de l'Économie et des Finances and Banque Centrale des États de l'Afrique de l'Ouest (BCEAO). That same year, AFI also celebrated its 10th anniversary at its GPF in Sochi, Russia. During the event, members endorsed the Sochi Accord on FinTech for Financial Inclusion.[11]
In 2019, a letter of understanding was signed between AFI and the Ministry of Finance of the Grand Duchy of Luxembourg to launch a new multi-donor collaboration framework to bolster financial inclusion across the African continent.[12] Minister Pierre Gramegna signed the multilateral letter of undertaking, together with AFI Executive Director Dr. Hannig. The cooperation is rooted in the support toward the advancement of the Sustainable Development Goals.
2019 onwards: COVID-19 pandemic and AFI's response
The COVID-19 pandemic triggered widespread unemployment and falling levels of gross domestic product and disproportionately impacting the most disadvantaged segments of populations. This led to the implementation of AFI's COVID-19 Policy Response, which aimed to systematically deliver coordinated policy responses to help AFI members mitigate the impact of COVID-19 on financial inclusion policy implementation, especially for micro, small and medium enterprises (MSMEs), women, youth, forcibly displaced and other vulnerable segments of the population.
Virtual engagements were conducted during the lockdown period with technical teams and leadership across its member countries to address specific issues. A series of member needs surveys were distributed to enable AFI to deploy rapid policy response guidelines.
AFI partnered with the Mastercard Foundation to implement a two-year COVID-19 Policy Response program in Africa. The program targeted 49 financial sector regulators and policymaking institutions across the region to effectively respond to the economic consequences of the pandemic. In-country implementation activities were conducted specifically in Nigeria, Uganda, Rwanda, Senegal, Ghana and the BCEAO member jurisdictions.
Responding to global trends, Dr. Hannig described in 2021 a recent evolution in financial inclusion:
“Financial inclusion is no longer just about access to finance and bringing unreached groups into access to formal financial services. [It] is becoming more about maintaining high levels of safe and sound financial access, with increasing usage and quality of financial services … embracing important issues such as financial health and financial resilience, with the ultimate objective to ensure financial stability”[13]– Dr. Alfred Hannig, AFI Executive Director
Impact
Since 2009, AFI members have developed and implemented over 920 policy changes to enhance financial inclusion. 841 million people have been brought into formal financial systems as a result of AFI activities.
Since 2016, members have attributed over 100 policies and regulations to AFI annually, an indication that the preparatory work going back many years is beginning to be realized.
Organization
AFI's core mission is to empower policymakers to increase the access and usage of quality financial services for the underserved through the formulation, implementation and global advocacy of sustainable and inclusive policies.
AFI is the only existing member-based organization with a strong network of central banks and other financial regulatory institutions, that have a specific focus or sole mandate on financial inclusion to support empowerment of the poor and aid the attainment of Sustainable Development Goals (SDGs) through smart policies and regulations.
In 2016, AFI became an independent, member-owned and member-based globally operating international organization under Malaysian law.
AFI uses a peer-to-peer learning model to connect, encourage and enable financial policymakers to interact and exchange knowledge on policy initiatives. AFI has pioneered knowledge exchange platforms among policymakers and stakeholders worldwide to build a more comprehensive knowledge base of financial inclusion. This has led to the formulation and implementation of effective policies by members institutions within their home jurisdictions.[14]
AFI also operates the AFI Data Portal (ADP), a unique and integrated global database on financial inclusion policies, regulations and outcomes. Housing information sourced directly from policymakers and regulators, the ADP empowers countries to share their financial inclusion stories and formulate policies through on data while also facilitating the study and understanding of trends in financial inclusion. The portal is accessible online and publicly available.
AFI administers financial inclusion policy-related services, including capacity building, developing-developed country dialogue, grants, in-country implementation support, knowledge products, regional initiatives and working groups, global advocacy on financial inclusion
Since the first AFI GPF in 2009, the event has supported an environment of historic financial inclusion policy initiatives and declarations, including the Maya Declaration, the first global and measurable set of financial inclusion commitments by developing and emerging economies.
AFI Cooperation model
AFI's cooperation model was designed to fulfil the objectives of supporting members’ financial inclusion agenda. Putting members in the driving seat of agenda setting for financial inclusion policy, AFI's unique cooperation model is based on the following principles:
Effective governance with Board of Directors and management unit driven by values of transparency, accountability and flexibility
Apolitical and non-bureaucratic
Full ownership by members who lead and set the agenda for the network's initiatives including Working Groups, Regional Initiatives and capacity building
Equality, inclusiveness and equity
Solid administrative and financial system with resources focused on operational and financial sustainability
Meaningful and binding partnerships with like-minded institutions
Permanence and agility
Sustainability of AFI services and knowledge resources [15]
Working groups
AFI has seven working groups. They serve as the technical backbone for generating knowledge, guiding and implementing policies, and developing policies. The working groups produce policy guidelines and tools for formulating financial inclusion policies, provide peer reviews, and contribute to the engagement of global standard-setting bodies (SSBs). They also all work on gender inclusive finance as a cross thematic area and have gender focal points.
Since the first meeting was held in 2010, working groups have grown rapidly in size and number. As of March 2022, 76 member institutions from 65 developing and emerging countries participate in working groups. They represent the leaders of financial inclusion policy and, together, have passed over 520 policy changes in their respective jurisdictions.[16]
They also represent the thematic areas that AFI actively participates in:
Consumer Empowerment and Market Conduct (CEMC)[17]
Examines the importance of consumer empowerment and protection to improve the quality of financial services. CEMC Working Group also advances policy and regulatory issues related to consumer empowerment initiatives and market conduct regulations.
Discusses issues related to digital financial services and promotes digital finance as a major catalyst in achieving financial inclusion in emerging and developing economies. The working group also develops policy guidelines, conducts peer reviews and engages the fintech industry and global SSBs.
Builds knowledge and good practices on areas related to financial inclusion measurements, such as indicators, methodologies, global standards and principles.
Provides technical support on the proportionate application of global standards while supporting, exchanging and discussing measures that strengthen and balance both financial sector stability and integrity.
Discusses and creates financial policies that build resilience to mitigate and adapt to the effects of climate change, and to facilitate a just transition towards a low carbon economy. The IGF since inception in 2019 has developed and launched 21 knowledge products, 22 peer reviews across several policy and implementation areas as at 2022.
Some of the knowledge products include:
Roadmap for IGF Implementation
Inclusive Green Finance: From Concept to Practice
Guideline notes on how to integrate IGF into a NFIS and DSS
Promotes the discussion and implementation of smart policies that facilitate the access of MSMEs to finance and provides a platform for members to discuss related challenges and opportunities.
In addition, AFI working groups cover current and emerging global trends that have the potential for widespread impact. Member institutions have significant interest in developing policies that mitigate the challenges posed by the following policy areas:
Forcibly displaced persons
Gender inclusive finance
Inclusive fintech
Youth financial inclusion
Regional Initiatives
Regional initiatives bring AFI closer to its members and strengthen regional cooperation in financial inclusion. They also enhance the network's ability to support its members working on specific regional priorities, sharing regional knowledge and translating global financial inclusion issues into practical implementation at the regional and national level. The network has five key regional initiatives:
AfPI is the primary platform for AFI members in Africa to support and develop financial inclusion policies and regulatory frameworks, and to coordinate regional peer learning efforts. From AFI's regional office in Abidjan, Côte d'Ivoire, AfPI brings together high-level representatives from African financial policymaking and regulatory institutions to enhance the implementation of innovative financial inclusion policies across the continent.
Key AfPI initiatives include leaders’ roundtables, private-public dialogues, capacity building workshops, developed-developing country dialogues and meetings of its experts’ group on financial inclusion policy.
As of 2021, 39 AFI member institutions from 37 countries participate in AfPI. Together, they have implemented 251 policy changes that can be attributed to the regional initiative's work in financial inclusion. They have also published 15 knowledge products and 331 Maya Declaration commitments.
Eastern Europe & Central Asia Policy Initiative (ECAPI)
Launched at the 2018 AFI GPF in Sochi, Russia, ECAPI aims to resolve regional challenges and elevate the voice of Eastern European and Central Asian nations on key financial inclusion policy issues. Countries within the region require focused and tailored solutions to tackle its financial inclusion challenges, including low levels of financial literacy, high volume of remittances and underdeveloped consumer protection policies.
While the region has witnessed significant advancements in financial access in recent years, at least 121 million people remain excluded from formal banking. Through the activities implemented in ECAPI, members aim to:
Increase access to financial services for the 50 percent unbanked youth.
Address the regional six percent gender gap.
Reduce the 25 percent gap in access between those with lower and higher levels of education.
Focus on advancing financial inclusion for the poorest 40 percent of the population.
As of 2021, seven AFI member institutions in seven countries collaborate under ECAPI. They have implemented 29 policy changes linked to the regional initiative's work in financial inclusion, published four knowledge products and made 53 Maya Declaration commitments.
Financial Inclusion for the Arab Region Initiative (FIARI)
FIARI is a regional platform created amid growing demand from member institutions for tailored solutions to regional financial inclusion issues. Launched by the Arab Monetary Fund, GIZ and AFI in 2017, and later joined by the World Bank, it aims to enhance access to financial services in the Arab region through effective coordination mechanisms and supporting the implementation of national financial inclusion policies.
As of 2021, FIARI comprises 22 AMF member institutions, including eight AFI members. Within the AFI network, members’ contributions has led to the implementation of 34 policy changes and 74 Maya Declaration commitments in the Arab Region.
Financial Inclusion Initiative for Latin America and the Caribbean (FILAC)
FILAC is a regional initiative that aims to be the driving force for advancing financial inclusion in Latin American and Caribbean countries. It was launched in 2016 with support from Canada's International Development Research Center.
As of 2021, FIARI's 12 AFI members in 11 countries have implemented 99 policy changes and published 13 knowledge products. They have made 174 Maya Declaration commitments.
Officially launched in Dili, Timor-Leste, in 2015, PIRI aims to make formal financial services accessible to all Pacific Islanders through its unique model of south-south engagement and peer learning. The region has one of the highest rates of unbanked persons globally due to factors including geographically dispersed islands, small populations and limited banking infrastructure.
The initiative invites AFI member institutions to share in a common vision while working toward ensuring that financial services are widely accessed throughout the region. With PIRI, AFI has created a unique model of south-south engagement and peer learning that aims to provide all low-income Pacific Islanders with access to formal and informal financial services.
As of 2021, the regional initiative comprised eight AFI members in eight countries. Their work has contributed to 65 policy changes and led to the publication of eight knowledge products. Members have made 66 Maya Declaration commitments.
South Asia Region Financial Inclusion Initiative (SARFII)
Launched at the 12th AFI Global Policy Forum in Jordan, in September 2022, SARFII aims to build on the important strides made by South Asian member institutions over the past decade by acting as a catalyst to accelerate financial inclusion with an objective to improve lives and make financial security and inclusion a reality for across South Asia.
The AFI Global Policy Forum (GPF) is organized annually by AFI and is the keystone event for its membership and financial inclusion policymakers globally.
The first GPF was co-hosted by the Central Bank of Kenya in September 2009 in Nairobi, Kenya, and attracted nearly 100 central bankers and other financial policymakers, providing a platform for policymakers in developing countries to engage in dialogue and share knowledge and experiences in expanding access to financial services.
In his opening remarks, Central Bank of Kenya Governor Prof. Njuguna Ndung'u summarized the goal of the GPF 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."
Members
Alliance for Financial Inclusion Map
AFI's members consist of central banks, monetary authorities, and other financial institutions. AFI members are responsible for choosing the policies to focus on.[30]
Principal and associate members
Country
Principal members
Associate members
Angola
Banco Nacional de Angola
Armenia
Central Bank of Armenia
Bahamas
Central Bank of The Bahamas
Bangladesh
Bangladesh Bank
Microcredit Regulatory Authority
Insurance Development and Regulatory Authority of Bangladesh
Belarus
National Bank of the Republic of Belarus
Bhutan
Royal Monetary Authority of Bhutan
Burundi
Banque de la République du Burundi
Cambodia
National Bank of Cambodia
China
People's Bank of China
Comoros
Banque Centrale des Comores
Democratic Republic of Congo
Banque Centrale du Congo
Costa Rica
Superintendencia General de Entidades Financieras de Costa Rica
Côte d'Ivoire
Ministère des Finances et du Budget de la Côte d'Ivoire
Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market
Kenya
Central Bank of Kenya
Sacco Societies Regulatory Authority (SASRA) Kenya
Retirement Benefits Authority of Kenya
Lesotho
Central Bank of Lesotho
Liberia
Central Bank of Liberia
Madagascar
Banque Centrale de Madagascar
Direction Générale du Trésor, Ministère des Finances et du Budget
Malawi
Reserve Bank of Malawi
Malaysia
Bank Negara Malaysia
Maldives
Maldives Monetary Authority
Mauritania
Banque Centrale de Mauritanie
Mexico
Comisión Nacional Bancaria y de Valores
Mongolia
Financial Regulatory Commission of Mongolia
Morocco
Bank Al-Maghrib
Mozambique
Banco de Moçambique
Namibia
Bank of Namibia
Nepal
Nepal Rastra Bank
Niger
Ministère des Finances de la République du Niger
Nigeria
Central Bank of Nigeria
Pakistan
State Bank of Pakistan
Palestine
Palestine Monetary Authority
Papua New Guinea
Bank of Papua New Guinea
Paraguay
Banco Central del Paraguay
Peru
Superintendencia de Banca, Seguros y AFP del Perú
Philippines
Bangko Sentral ng Pilipinas
Rwanda
National Bank of Rwanda
Samoa
Central Bank of Samoa
São Tomé and Príncipe
Banco Central de São Tomé e Príncipe
Senegal
Ministère de l'Economie, des Finances et du Budget du Sénégal
Délégation Générale à l'Entreprenariat Rapide des Femmes et des Jeunes
Seychelles
Central Bank of Seychelles
Sierra Leone
Bank of Sierra Leone
Solomon Islands
Central Bank of Solomon Islands
South Africa
South African Reserve Bank
Sri Lanka
Central Bank of Sri Lanka
Sudan
Central Bank of Sudan
Suriname
Centrale Bank van Suriname
Tajikistan
National Bank of Tajikistan
Tanzania
Bank of Tanzania
Thailand
Bank of Thailand
Timor-Leste
Banco Central de Timor-Leste
Togo
Ministère de l'Economie et des Finances du Togo
Tonga
National Reserve Bank of Tonga
Trinidad & Tobago
Central Bank of Trinidad and Tobago
Tunisia
Banque Centrale de Tunisie
Ministère des Finances de la République Tunisienne
Autorité de Contrôle de la Microfinance de la République Tunisienne
Uganda
Bank of Uganda
Uzbekistan
Central Bank of the Republic of Uzbekistan
Vanuatu
Reserve Bank of Vanuatu
Zambia
Bank of Zambia
Ministry of Finance and National Planning
Zimbabwe
Reserve Bank of Zimbabwe
Ministry of Finance and Economic Development
Region
Principal member
Associate member
Observer member
Central African States (Republic of the Congo, Cameroun, Gabon, Equatorial Guinea, Central African Republic, Chad)
La Commission Bancaire de Afrique Centrale
West African States - Union Monétaire de l'Afrique de l'Ouest (Bénin, Burkina Faso, Côte d'Ivoire, Guinea Buisseau, Mali, Niger, Senegal, Togo)
Banque Centrale des Etats de l'Afrique de l'Ouest
Donors and partners
In 2016, AFI completed its transition from being an exclusively donor-funded project into an independent and member-supported international network of policymakers. However, AFI still continued to form strategic collaborations with a variety of global donors and partners from both the public and private sectors. These include:[31][32]
The Inter-American Development Bank is an international financial institution headquartered in Washington, D.C., United States of America, and serving as the largest source of development financing for Latin America and the Caribbean. Established in 1959, the IDB supports Latin American and Caribbean economic development, social development and regional integration by lending to governments and government agencies, including State corporations.
The State Bank of Pakistan (SBP) is the Central Bank of Pakistan. Its Constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until 1 January 1974, when the bank was nationalised and the scope of its functions was considerably enlarged. The State Bank of Pakistan Act 1956, with subsequent amendments, forms the basis of its operations today. The headquarters are located in the financial capital of the country in Karachi. The bank has a fully owned subsidiary with the name SBP Banking Services Corporation (SBP-BSC), the operational arm of the Central Bank with Branch Office in 16 cities across Pakistan, including the capital Islamabad and the four provincial capitals Lahore, Karachi, Peshawar, Quetta. The State Bank of Pakistan has other fully owned subsidiaries as well: National Institute of Banking and Finance, the training arm of the bank providing training to Commercial Banks, the Deposit Protection Corporation, and ownership of the Pakistan Security Printing Corporation.
The Financial Action Task Force (on Money Laundering) (FATF), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest. In 2001, its mandate was expanded to include terrorism financing.
The Bank of Sierra Leone is the central bank of Sierra Leone. It issues the country's currency, known as the Leone. The bank formulates and implements monetary policy, including foreign exchange.
Financial deepening is a term used by economists to refer to increasing provision of financial services. It can refer both a wider choice of services and better access for different socioeconomic groups. Financial deepening can have an effect on both individuals' and societies' economic situations.
The Bank of Zambia (BoZ), is the central bank of Zambia.
The Bank of Papua New Guinea is the central bank of Papua New Guinea, which has a core mandate to ensure price stability and maintain macroeconomic growth. To achieve this, it discharges four main functions; 1. responsible for the formulation and implementation of monetary policy, 2. ensure financial system development and stability, 3. ensure the payment system remain efficient, and 4. provide a banking role to the Government. It also manages the country's foreign reserves, issue the country's currency, manages the gold and foreign exchange of Papua New Guinea.
The Central Bank of Samoa, situated in the capital Apia beside the main government buildings, issues the Samoan currency, the Samoan tālā as well as regulates and manages the exchange rate with foreign currencies. In its role as the central bank for the government and the country, it is also responsible for the registration and supervision of commercial banks. The current governor since 2011 has been Maiava Atalina Emma Ainuu-Enari.
The Centre for Policy Dialogue (CPD), established in 1993 by Rehman Sobhan, its Founder chairman, with support from leading civil society institutions in Bangladesh, is mandated by its Deed of Trust to service the growing demand originating from the emerging civil society of Bangladesh for a more participatory and accountable development process. CPD seeks to address this felt-need from the perspectives of marginalised stakeholders, by way of organising multistakeholder consultations, by conducting research on issues of critical national, regional and global interests, through dissemination of knowledge and information on key developmental issues, and by influencing the concerned policy making processes.
The National Bank of the Republic of Belarus is the central bank of Belarus, located in Minsk. The bank was created in 1922 under the name of "Belarusian Republican Bank" by the Soviet of People's Commissars of Byelorussia, but soon worked under the direction of the State Bank of the USSR. Undergoing reorganizations in 1959 and 1987, the bank appeared in its current form in 1990 after the passage of banking rules upon declaring independence from the Soviet Union.
The Global Alliance for Improved Nutrition (GAIN) is a non-profit foundation based in Geneva, Switzerland. GAIN was developed at the UN 2002 Special Session of the General Assembly on Children. GAIN’s actions include improving the consumption of nutritious and safe foods for all. They are supported by over 30 donors and work closely with international organisations and United Nations agencies. Their activities include improving consumption of nutritious food globally. The organisation has a 20 year history of food system programmes: focusing on adolescent and child nutrition, food system research, fortification, small and medium enterprise assistance, biofortification of crops and reducing post-harvest losses.
Financial inclusion is the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and services which include banking, loan, equity, and insurance products. It is a path to enhance inclusiveness in economic growth by enabling the unbanked population to access the means for savings, investment, and insurance towards improving household income and reducing income inequality
Microcredit Regulatory Authority (MRA) is the central body to monitor and supervise microfinance operations of non-governmental organizations of the Republic of Bangladesh. It was created by the Government of People's Republic of Bangladesh under the Microcredit Regulatory Authority Act. License from the Authority is mandatory to operate microfinance operation in Bangladesh as an NGO.
The UNESCO Institute for Statistics (UIS) is the statistical office of UNESCO and is the UN depository for cross-nationally comparable statistics on education, science and technology, culture, and communication.
The United Nations Environment Programme Finance Initiative is a partnership between the United Nations Environment Program (UNEP) and the global financial sector to catalyse action across the financial system to align economies with sustainable development. As the UN partner for the finance sector, they convene financial institutions on a voluntary basis to work together with them, and each other, to find practical solutions to overcome the many sustainability challenges facing the world today. UNEP FI does this by providing practical guidance and tools which support institutions in the finance sector to find ways to reshape their businesses and commit to targets for limiting greenhouse gas emissions, protecting nature, promoting a circular economy and supporting financial inclusion to address inequality. The solutions developed effectively form a blueprint for others in the finance sector to tackle similar challenges and evolve their businesses along a sustainable pathway. The creation and adoption of such a blueprint also informs policy makers concerned with sustainability issues about what would constitute appropriate regulation for the finance sector at large. Founded in 1992, UNEP FI was the first organisation to pioneer engagement with the finance sector around sustainability. The Finance Initiative was responsible for incubating the Principles for Responsible Investment and for the development and implementation of UNEP FI’s Principles for Responsible Banking and Principles for Sustainable Insurance as well as the UN-convened net-zero alliances. Today, UNEP FI provides sustainability leadership to more than 400 financial institutions, with assets of well over $80 trillion headquartered around the world.
Polylateral Development
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.
The Global Policy Forum (GPF) is organized by the Alliance for Financial Inclusion, or AFI, as the keystone event for its membership and financial inclusion policymakers worldwide. Each year, it is co-hosted by a different member institution in a different region of the world. As of November 2023, AFI had 86 member institutions from over 80 countries, making the AFI GPF the most important and comprehensive forum for regulatory institutions with an interest in promoting financial inclusion policy. The AFI GPF is focused on developing and improving national financial inclusion strategies and policies and is used as a platform for senior financial regulators to exchange ideas as well as engage in peer-to-peer learning activities.
Habitat III, the United Nations Conference on Housing and Sustainable Urban Development, took place in Quito, Ecuador, from 17 – 20 October 2016.
European Dialogue on Internet Governance (EuroDIG) is a Pan-European multi-stakeholder forum focused on Internet Governance. It is a regional sub-forum of the global Internet Governance Forum (IGF). It is an annual meeting with open participation and changing locations across European countries. Participants come from the private sector, governments, civil society, academia, and the technical community. Notable participating institutions are the European Commission and the Council of Europe.
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