The International Monetary Fund (IMF) and the World Bank Group have
committed to giving the global anti-money laundry efforts a push.
According to reports, through the Bali Fintech Agenda, launched at the
ongoing Annual Meetings of the two organisations, they commit themselves to the global war against illicit funds, while working towards bringing the one point seven billion world population without banking services into the net.
The IMF Managing Director, Mrs Christine Lagarde who spoke at the
launch of the Agenda, said there are an estimated one point seven billion adults in the world without access to financial services
Fintech can have a major social and economic impact for them and
across the membership in general.
She said all countries are trying to reap these benefits, while also mitigating the risks and that they need greater international cooperation to achieve that and to make sure the fintech revolution benefits the many and not just the few.
This Agenda provides a useful framework for countries to assess their
policy options and adapt them to their own circumstances and priorities.
Also speaking, World Bank President, Dr, Jim Yong Kim said, the Bali
Fintech Agenda provides a framework to support the Sustainable Development Goals, particularly in low-income countries, where access to financial services is low.
He said, countries are demanding deeper access to financial markets,
and the World Bank Group will focus on delivering fintech solutions that enhance financial services, mitigate risks, and achieve stable, inclusive economic growth.

No related posts.