AFI knowledge exchange program kicks off in Kuala Lumpur

AFI Deputy Executive Director Norbert Mumba kicked off a three-day knowledge exchange program on 25 November that focuses on digital financial services (DFS); micro, small and medium enterprises (MSMEs); and finance and consumer protection and digital financial literacy.

It is being held in Kuala Lumpur for participants from Bank Negara Malaysia (BNM), Bank of Thailand (BoT) and Bangko Sentral ng Pilipinas (BSP) and responds to member requests for a platform where they can learn from and share expertise with specific peers facing similar challenges.

“Member countries that are advanced in their financial inclusion journey have complex challenges and priorities to be addressed and need innovative policy responses to advance their financial inclusion objectives,” AFI’s Mumba told participants of the program.

“This knowledge exchange program is for members to not only learn but also share on relevant topics focusing on their country-specific implementation challenges that can receive practical recommendations from peers who are facing similar challenges and issues.”

Other AFI member institutions – National Bank of Cambodia and Central Bank of Jordan – will share their knowledge as speakers. They will be joined by key stakeholders including AFI partner Ant Financial Services Group, Malaysia Competition Commission, Microsave Consulting and World Bank.

Day one will focus on DFS and address policy interventions to create an enabling ecosystem with a focus on innovative payment solutions, such as QR codes and digital banking innovations, to advance financial inclusion without compromising on related risks. The second day will look at identifying policy solutions to leverage new and innovative models to reduce the SME financing gap, while the final day will analyze best practices on digital financial literacy and consumer protection.

AFI network has organized similar knowledge exchange programs in the past, however, this is the first time that such a wide variety of topics is being addressed. This event is funded by UK aid from the UK government.