Government involvement in Financial Inclusion drive challenging

Getting all levels of Government involved in the Financial Inclusion drive remains one of the challenges that needs addressing.

The Centre for Excellence in Financial Inclusion (CEFI) Director, Saliya Ranasinghe, said this during the Working Groups Progress Review Workshop in the implementation of the National Financial Inclusion Strategy 2016-2020.

CEFI Director, Saliya Ranasinghe, said the workshop was an important event to reflect on the achievement and failures thus far in the implementation of the 2nd NFIS>

Some of the challenges he highlighted include:

  • Duplicate Bank accounts
  • Ensuring accounts are active and used
  • Having all levels of Governments (Provincial, District, Local Level) involved in Financial Inclusion drive
  • Engaging appropriate technology to leap frog financial inclusion

He called on the working groups to find solutions to the problems.

Assistant Governor of the Bank of PNG, Ellison Pidik, called for more transparency in the activities of the Working Groups.

The National Financial Inclusion working group progress review workshop, is a mid-term evaluation of the implementation of the National Financial Inclusion Strategy 2016-2020.

The current National Strategy calls for the provision of financial products and services to reach 2 million additional unbaked and underserved low-income people across the country, 50% of whom to be women.

Source: Loop PNG

Date: 1st October, 2017

Link: http://www.looppng.com/business/government-involvement-financial-inclusion-drive-challenging-79865

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