SUNBIZ

Governor Agrees Robust Financial Inclusion Measurement Tool Needed

Reserve Bank of Fiji Governor, Barry Whiteside has acknowledged the need for a robust measurement for financial inclusion. “RBF believes financial inclusion is critical in reducing poverty and achieving inclusive
09 Sep 2015 10:44
Governor Agrees Robust Financial Inclusion Measurement Tool Needed
Reserve Bank of Fiji Governor, Barry Whiteside.

Reserve Bank of Fiji Governor, Barry Whiteside has acknowledged the need for a robust measurement for financial inclusion.

“RBF believes financial inclusion is critical in reducing poverty and achieving inclusive economic growth,” he said.

“We continue to drive a proactive and broader role in promoting and developing financial inclusion in our country through innovation and effective collaboration of all stakeholders.”

His comments follow the conclusion of a RBF-organised information session on Measuring Financial Inclusion with special focus on the Global Findex.

Mr Whiteside said the National Financial Inclusion Taskforce would learn a lot from the Global Findex database.

This, he said, would be in regard to measuring the progress of our financial inclusion efforts and assisting with evidence based policy going forth.

The session was conducted by Dorothe Singer, an Economist with the Finance and Private Sector Research Team of the Development Research Group at the World Bank.

She provided an update to financial sector stakeholders, representatives from government ministries, mobile network providers, academia and the private sector.

Ms Singer said measurement is key to understanding financial inclusion and identifying opportunities to remove the barriers that may be preventing people from using financial services.

She further elaborated that the Global Findex database was the world’s most comprehensive gauge of global progress toward financial inclusion for individuals.

“The database permits policy makers, researchers, businesses, the development community, and others to see how the use of financial services has changed over time,” she said.

 

Global Findex Database
Launched in 2011 by the World Bank. It has made it possible for the first time to measure financial inclusion in a systematic and comparable way for adults around the world.

Feedback: rachnal@fijisun.com.fj

 

Fiji Sun Instagram
Fiji Plus
Subscribe-to-Newspaper