The G-20 has recently issued a communiqué placing a policy priority on financial inclusion. This was done after the third Global Leadership Seminar for high-level policymakers and regulators who set policy for branchless banking, including mobile banking.
We think this is a very positive development as it is important to provide a forum for discussion on what has worked in other markets where branchless banking and mobile banking have taken off. From such discussions policy templates will provide guidance to regulators in markets where such services do not currently exist. Ironically, this is one area where the developed world will learn from some developing countries. Brazil is well known to be a leader in branchless banking as an example.
The attached article is an interview of Paul Flanagan, co-chair of the G-20 Financial Inclusion Experts Group and General Manager, International Finance Division, Australian Treasury. The interview is conducted by Jim Rosenburg of CGAP.