AFI’s CEMC Working Group shares insight on how to empower and protect consumers

How can we empower consumers to make informed financial decisions, while protecting them via effective regulation and supervision?

AFI members shared their experiences at the Consumer Empowerment & Market Conduct (CEMC) Working Group meeting, held on 4-7 March in Fiji, and co-hosted with the Reserve Bank of Fiji.

The 27^th Meeting of the CEMC Working Group allowed members to share their latest policy updates around consumer empowerment and market conduct, compared current projects in financial literacy, and held deep-dive discussions around market conduct supervision, market monitoring, and feedback tools, customer centricity/behavioral insights, and integrating financial education into general education.

In addition to AFI member experiences, the group also benefited from input from experts from UN Capital Development Fund and the Consultative Group to Assist the Poor.

“The CEMC Working Group is proving to be a really effective engine room for devising policies that empower consumers to make informed choices and manage their financial lives,” said Eliki Boletawa, AFI’s Director of Policy Programs and Implementation. “Learning from peers about what works, and what doesn’t work, is critical to moving forward efficiently and safely.”

Five members received awards in recognition of their contributions to the Working Group:

• Sevak Mikayelyan, Central Bank of Armenia
• Ligia Marcela Herrera, Comisión Nacional de Bancos y Seguros de Honduras
• Kiran Pandit, Nepal Rastra Bank
• Natalia Sanchez, Superintendencia de Bancos de la República Dominicana
• Cesar Ricardo Umanzor Zavala, Banco Central de Reserva de El Salvador

You can learn more about AFI’s work in Consumer Empowerment & Market Conduct, and access our publications in this area, here.