Innovation and inclusivity key to advancing financial inclusion, say AFI leaders

Innovation and inclusivity will be essential if the 1.4 billion unbanked adults are to be brought into the financial system, said AFI leaders at the opening of the 2024 AFI Global Policy Forum (GPF) in San Salvador. 

The 2024 GPF, co-hosted with Banco Central de Reserva de El Salvador (BCR), is themed “Innovation for an Inclusive World,” encapsulating the idea that creativity, technology, and problem-solving can be harnessed to promote inclusion and build a more equitable and accessible society 

“By leveraging innovative solutions, we bridge gaps, overcome barriers, and ensure that the benefits of progress are accessible to all members of society,” said Ariff Ali, AFI Chair and Governor of the Reserve Bank of Fiji. “This approach not only enhances economic growth but also promotes social cohesion and empowers communities to thrive in a rapidly changing world.” 

“Here in El Salvador, I sense an enthusiasm to create, take risks, and embrace the potential of new technologies,” said AFI Executive Director, Dr Alfred Hannig. “But all countries can innovate, because innovation simply requires curiosity and open-mindedness. Just as important, however, is inclusivity, and a commitment to social justice and to equity. Financial inclusion needs to be human-centered.”  

“In El Salvador, financial inclusion is a fundamental pillar for sustainable development and the well-being of families,” said BCR President and AFI Board Member, Douglas Rodríguez. “Today more than ever, we have the opportunity to use financial innovation as a powerful tool to transform lives,” he added. 

You can watch a recording of the GPF Opening Session here.