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2017 APEC Asia-Pacific Forum on Financial Inclusion

Event | 10 - 11 July 2017 Hoi An, Viet Nam

Background

Improved access to financial services aids the welfare of households and the viability of small businesses. In turn, it supports the process of economic development. Financial systems have been expanding in Asian countries offering more services for savings, credit, investment, insurance, and retirement. However, much remains to be done to provide quality services, at low cost to people and small business in all parts of society, including in both urban and rural areas and poorer regions where banks and other financial institutions are less likely to see profitable opportunities.

The development of information and communications technologies (ICTs) in the current digital age provides new opportunities to increase financial inclusion, but digital finance also requires greater financial awareness and literacy. Consumers need to be fully informed of the costs and risks of financial products on offer. The spread of digitized finance is also having an impact on the traditional activities of commercial and retail banks; digitized finance is disrupting traditional approaches to savings and lending so banks need to adapt and find ways to provide electronic services and to meet the growing demands of customers.

The Asia-Pacific Forum on Financial Inclusion was launched under Japan’s leadership of the APEC Finance Ministers at their 2010 meeting in Kyoto. The event will bring together participants from the public and private sectors, including financial regulators and policy makers, multilateral institutions, financial institutions, credit information agencies, microfinance institutions, financial inclusion experts, industry organizations, and private foundations. By providing a platform for high-level dialogue on financial inclusion among policy makers and regulators across the region, the event aims to strengthen capacity and provide advice on issues impacting financial inclusion and the challenge of digitization in the region.

The event will be hosted by the State Bank of Vietnam and jointly organized by ADBI, the APEC Business Advisory Council (ABAC), and the Foundation for Development Cooperation (FDC). Unlike previous forums which have been ABAC events, this year’s forum will have full status as an APEC (not ABAC) event.

Objectives

  • To enhance the capacity of policy makers in ADB’s DMCs by increasing their knowledge on financial inclusion and integration in the region; and
  • To highlight current challenges of financial inclusion and digitization in Asia and discuss ways tackle those challenges.

Participants

About 100-150 participants and speakers from governments, financial sector regulators, financial institutions, and other organizations engaged in finance, promoting financial inclusion, and digitization. ADBI-funded government officials will likely be invited from up to 15 countries (2 each).

Participant responsibilities

Attend all sessions and participate in discussions

Output

  • Improved understanding of financial inclusion and digitized finance in Asia;
  • Better financial policies for Asian countries;
  • Upgraded systems to broaden financial inclusion and digital access;
  • Cooperation among key stakeholders involved in financial sector development; and
  • Presentation materials, made available to the public (ADBI website).

How to register

By invitation only.

Language

English

Partners

APEC Business Advisory Council (ABAC), Foundation for Development Cooperation (FDC), and The State Bank of Vietnam

Time of event

09:00 - 18:00