Policy to drive Financial Inclusion

The approval of the Financial Inclusion Policy by Government will further enhance the drive to bring financial knowledge and services to rural communities.

Centre for Excellence in Financial Inclusion (CEFI) Director, Saliya Ranasinghe, said this during the Working Groups Progress Review Workshop in the Implementation of the National Financial Inclusion Strategy 2016 – 2020 recently.

He said this now ensures the Government at all levels incorporate Financial Inclusion in their

“On the 28th of August this year, the Government approved the Financial Inclusion Policy. Which makes Financial Inclusion part of the main agenda of Papua New Guinea.

“That’s a great achievement and also that policy will make sure that all government departments and will provide support to achieve this dream,” said Ranasinghe.

The policy  addresses one of the challenges stated by Ranasinghe during the opening of the workshop which is having all government levels involved in the implementation of National Financial Inclusion Strategy 2016 – 2020.

The current National Strategy calls for the provision of financial products and services to reach 2 million additional unbanked and underserved low-income people across the country, 50% of whom to be women.

Cedric Patjole