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Solomon Islands shares experience on financial inclusion

Solomon Islands shares experience on financial inclusion

Honiara, 5 October 2011 - “Solomon Islands had made steady progress in promoting financial inclusion activities in the last twelve months”.

In a presentation to the Alliance for Financial Inclusion (AFI) Global Policy Forum in Cancun, Mexico last week, Chairman of the National Financial Inclusion Taskforce (NFIT) in Solomon Islands and Central Bank Governor, Denton Rarawa told the conference that although a recent starter, Solomon Islands has made progress on several financial inclusion initiatives since the end of 2010.

“We are one of the few countries in the Pacific that is leading the region in promoting financial inclusion activities”, Governor Rarawa explained Mr. Rarawa cited preparatory work towards trialing mobile financial services in Solomon Islands and scoping work towards introducing financial education in the national education curriculum for primary and secondary schools as examples of financial inclusion activities in the country.

[“These are all ongoing efforts towards achieving the Money Pacific Goals by 2020”. The Money Pacific Goals endorsed by the Finance and Education Ministers of the Pacific Islands Forum in 2009 encompasses financial education, consumer protection and access to financial services and products.]

The AFI Global Policy Forum sponsored by Mexico and Peru, brought together 300 policy makers and strategic partners from AFI’s members all over the world. The conference concluded with the adoption of the “Mayan Declaration on Financial Inclusion” in the presence of the Mexican president Mr. Felipe Calderon Hinojosa and HRH Princes Maxima of the Netherlands, the UN Secretary General’s Special Advocate for Inclusive Finance and Development Also present at the conference were governors from neighboring Pacific Island nations and the Pacific Financial Inclusion Programme who have been providing technical assistance to all central banks in the Pacific region on financial inclusion strategies.

ENDS

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