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ITU hosts workshop on digital financial inclusion, targets unbanked 2bn



The International Telecommunication Union (ITU) has concluded plays to host a workshop on digital financial services and financial inclusion to address needs of over 2 billion ‘unbanked’ people globally, reports ITRealms.

Before now, mobile money experts have harped on the need to prioritize discussion of consumer protection.

The workshop slated for December 14, is expected to analyse the latest developments in the market for digital financial services (DFS), or ‘mobile money’ just as the topics for discussion would address consumer protection, with accompanying sessions exploring merchant payments, DFS market competition, and DFS interoperability.

ITRealms gathered that the free-of-charge, open-to-all workshop would host representatives of the information and communication technology (ICT) and financial-services sectors to supplement the work of the ITU Focus Group on Digital Financial Services, which would meet at ITU, between 15-16 December.

The Focus Group, ITRealms also gathered is developing a set of operational recommendations, tools and solutions to assist countries in establishing financial-inclusion strategies capable of promoting widespread adoption of DFS.

The group’s upcoming meeting will advance key deliverables to improve the cooperation of ICT regulators and central banks, build greater understanding of the roles and responsibilities of the stakeholders comprising the DFS ecosystem, and support DFS operators in their efforts to achieve service interoperability.

The workshop slated to hold at ITU headquarters in Geneva, Switzerland is expected to attract participation from financial and telecommunication regulators and stakeholders from around the world will discuss consumer protection, interoperability, access to infrastructure, and security and risk management.

Equally particpating include ITU member states, ICT regulators, financial services regulators, policymakers, mobile network operators, banks, financial service providers, mobile financial-services platform providers, international organizations, academia and non-governmental organizations.
Other participants would include representatives of the Alliance for Financial Inclusion (AFI); AMDOCS; ANATEL, Brazil; Banco Central do Brasil; Bangladesh Bank; Bangladesh Telecommunication; Regulatory Commission, (BTRC); Bangko Sentral ng Pilipinas; Bank of Ghana; Bank of Indonesia; Bank of Uganda.

Just as Bill & Melinda Gates Foundation; bKash Limited; Centre for Financial Regulation and Inclusion (CENFRI); Centre for Financial Inclusion at Accion (CFI); CGAP; China Mobile; Columbia Business School; Consumer’s International; Ericsson; Glenbrook Partners; GSMA; Hitachi; Huawei Technologies; Intervale; ISO; National Communication Authority, Ghana; NTRA, Egypt; MasterCard; MicroSave; Ministry of Communication and Information Technology, Indonesia; Ministry of ICT, Postal and Courier Services, Zimbabwe; SocialEco Ltd; Tanzania Communication Regulatory Authority (TCRA); Tunisie Telecom; United Nations Conference on Trade and Development (UNCTAD); United Nations Development Programme (UNDP); World Bank; Zambia Information and Communications Technology Authority, (ZICTA).

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