An inclusive financial system is only possible in an enabling policy and regulatory environment. PFIP works directly with policy makers and financial system regulators to create an enabling space for the innovation that leads to financial inclusion. PFIP has worked closely with the region’s regulators as they have crafted regulatory frameworks to enable financial service innovation, particularly in the area of DFS
. Central Banks have also taken the lead in driving National Financial Inclusion Strategies (NFIS) and establishing multi-sector task forces (NFITs).
PFIP will continue to support policymakers as they refine regulations related to emerging innovations. At the same time, PFIP will actively promote the expansion of digital G2P/P2G payment programmes. This is the single most important action that governments can take to improve a large and important class of financial transactions and introduce large numbers of people to DFS platforms.