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Belarus' efforts to introduce digital financial services praised

Economy 13.06.2019 | 14:03
An archive photo
An archive photo

MINSK DISTRICT, 13 June (BelTA) – Belarus is the Eastern Europe leader in introducing digital financial services. The statement was made by Eliki Boletawa, Head of the Policy Programs and Regional Initiatives Department of the Alliance for Financial Inclusion (AFI), during a meeting of representatives of Eastern Europe and Central Asia countries on 13 June, BelTA has learned.

Eliki Boletawa said: “We are grateful to Belarus for its work within the framework of the Alliance for Financial Inclusion. It was the first country in Eastern Europe to join our alliance. In its region Belarus occupies a leading position with regard to the introduction of digital financial services, financial education, and efforts to increase financial literacy.”

The Alliance for Financial Inclusion is now working on giving access to banking services to the people who do not have them right now. Their number stands at 1.7 billion across the globe. “With its leading stance Belarus helps us a lot with organizing the sharing of the best practices for the sake of resolving the problem. It is also important that Belarus is pro-active,” the AFI representative said.

The Alliance for Financial Inclusion is an international association intent on facilitating the development of national financial systems that cater to all kinds of citizens, including low-income ones. The alliance members are central banks and other financial regulatory bodies from over 90 developing countries. The AFI is headquartered in Kuala Lumpur, Malaysia. Represented by the central bank, Belarus joined the organization in May 2010 and is a full member.

Five regional initiatives are being implemented in the AFI. They cover countries in Africa, Latin America and the Caribbean, the Arab region, the Pacific islands, and Eastern Europe and Central Asia countries.

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