Innovative Financial Inclusion

At the Pittsburgh Summit in September 2009, G20 Leaders committed to improving access to financial services for poor people, through supporting the safe and sound spread of new modes of financial service delivery capable of reaching the poor.

This report provides guidance for policy and regulatory approaches to innovative financial inclusion that will: (i) foster the safe and sound adoption of innovative, adequate, low-cost financial service delivery models; (ii) help provide a framework of incentives for the various bank, insurance, and nonbank actors involved, while ensuring fair conditions of competition between all financial service player; and (iii) foster affordable financial services that reposnd to customers needs in both quality and range.

Endorsement of the attached Principles represents a first step towards building a framework to improve access to a full range of financial services for poor people. This work will be considered by Leaders at the next Summit in Seoul, Korea in November 2010.