The Manila Manifesto: AFI commits to increased engagement with global standard-setting bodies

Recognizing the increasingly important role which global standard-setting bodies (SSBs) play in financial inclusion, the members of the Alliance for Financial Inclusion have endorsed and published the Manila Manifesto, setting out how AFI will engage with SSBs in the years ahead.

“Standard-setting bodies are active across a broad range of policy topics which are highly relevant to AFI,” explained Dr Alfred Hannig, AFI Executive Director.

The Manila Manifesto details our network’s commitment to coordinate, collaborate, and engage with global SSBs, and to pursue opportunities to advance policy dialogue on crucial areas where global standards have yet to be defined, such as digital innovation, climate risks and green finance.

“The Manila Manifesto urges us to apply global regulatory standards without hindering financial inclusion. May this collective commitment serve as a powerful impetus for the creation of regulations that are responsive and relevant to our shared goals,” said Bangko Sentral ng Pilipinas Governor, Eli M. Remolona, Jr.

AFI members have committed to a range of activities including:

• ensuring the voice of developing and emerging countries is heard in discussions on the application of global standards;
• gathering evidence on the impact of global standards on promoting financial inclusion;
• engaging SSBs on how financial inclusion considerations can be factored into the implementation of global standards.

The Manifesto, endorsed today at the 2023 AFI Global Policy Forum in Manila, is now available on the AFI website.