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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