With support from AFI, the Central Bank of Samoa (CBS) has launched a Regulatory Sandbox which will allow private sector firms to test innovative financial products and services in a safe and controlled environment, prior to being deployed to the market.

The Regulatory Sandbox, which AFI supported through its In-Country Implementation program. will allow CBS to balance innovation and risks, facilitating the trial of innovative products and services while ensuring the financial system is not exposed to unnecessary risks. It will support the CBS in safeguarding Samoa’s financial system stability, and will link up with regional efforts to establish a Pacific Regional Regulatory Sandbox.

“AFI continues to be an important policy partner of the CBS in its financial inclusion journey and we are extremely appreciative of the facility from AFI that has allowed the technical support to develop our regulatory sandbox. This represents a major achievement for the CBS and a significant milestone to support developments in the financial sector. We look forward to working with eligible entities through the Sandbox program”, said CBS Governor Maiava Atalina Ainuu-Enari.

You can learn more about the Central Bank of Samoa’s Regulatory Sandbox on their website.