A total of 17 new Maya Declaration Commitments were announced on the final morning of AFI’s 4th Annual Global Policy Forum (GPF) in Cape Town, South Africa. The number of institutional financial inclusion commitments under AFI’s Maya Declaration increased to 34 overall — an impressive achievement that marks the one year anniversary since the Maya Declaration’s introduction at last year’s GPF in Mexico.

New Commitments include: Central Bank of Armenia; Microcredit Regulatory Authority, Bangladesh; Ministry of Social Development, Chile; Ministry of Finance Colombia; Banque Centrale du Congo; Banco Central del Ecuador; Bank of Ghana; Superintendencia de Bancos de Guatemala; Bank Indonesia; Financial Regulatory Commission of Mongolia; Central Bank of Mozambique; Bank of Namibia; Palestine Monetary Authority; Banco Central del Paraguay; Ministry of Economy and Finance Senegal; Central Bank of Solomon Islands; Reserve Bank of Vanuatu; and Bank Negara Malaysia.

“The response from our membership to the Maya Declaration’s call to action has been tremendous,” said Alfred Hannig, Executive Director at AFI. “Taken together, these Commitments show the determination of the AFI Network to lead in the development of financial inclusion innovation and improve the lives of the world’s unbanked.”

Here are just a few ways in which they can unlock economic potential and make financial inclusion real.

Ghana – Bank of Ghana
Will aim for 70% financial inclusion by 2017, revise its payment system strategy and develop a financial literacy program by 2012, stimulate uptake of mobile financial services, and report on progress and peer learning.

Senegal – Ministère de l’Economie et des Finances du Sénégal
Will develop an institutional and regulatory framework that supports grassroots financial service providers, create better operational control of the MFI sector and intermediation, and diversify financial services, particularly MFS.

Palestine Authority – Palestine Monetary Authority
Will improve financial literacy among Palestinians, develop services to facilitate access to financial services, and draft principles for consumer protection.

Armenia – Central Bank of Armenia
Will encourage the rollout of private sector products that respond to the needs of the poor, with an emphasis on innovative channels like mobile and electronic money. Will also implement a swift, effective, and free complaint-handling system via the financial mediator office, and improve the regulatory framework so that consumers have the information, protection, and ability to access all services.

Democratic Republic of Congo – Banque Centrale du Congo
Will complete the modernization of the national payment system, improve consumer protection regulations, and introduce mobile banking and banking agents, all by 2013.

Vanuatu – Reserve Bank of Vanuatu
The Council of Ministers will endorse the national strategy by 2013. Will also develop course curricula and conduct an access and demand survey.

Malaysia – Bank Negara Malaysia
Will ensure 95% of the adult population has access to financial services by 2014, adopt innovative channels to improve agent and mobile banking, and expand products and services that meet the needs of all citizens, including microfinance and long-term savings.

Bangladesh – Microcredit Regulatory Authority of Bangladesh
Will promote agent and mobile banking, implement consumer protection initiatives, and establish a credit bureau for the MFI sector.

Guatemala – Superintendencia de Bancos de Guatemala
Create a code of good practice for consumer protection for all financial service providers, develop transparency and disclosure standards for products and services, measure the impact of our commitments, and create a database by 2013.

Ecuador – Banco Central del Ecuador
Will improve local financial structures and the national payment system in 200 districts, and expand financial products and services in unreached areas through a grant fund.