Delegation of Central Bank participates in Global Policy forum of Alliance of Financial Inclusion

Tashkent, Uzbekistan (UzDaily.com) -- A delegation of representatives of the Central Bank took part in the 10th Global Forum of the Alliance for Financial Inclusion (AFI), which was held in Sochi (Russia) from 5 to 7 September this year.

This anniversary forum was organized by the Alliance together with the Central Bank of the Russian Federation.

The following two important documents were approved during the forum: "Eastern Europe and Central Asia Initiative" and "Soch Agreement on tDevelopment of Fintech for Enhancing Financial Accessibility".

The Initiative for Eastern Europe and Central Asia was approved and launched by representatives of the Central Banks of Uzbekistan, Russia, Armenia, Belarus, Georgia, Kazakhstan and Tajikistan. According to AFI Executive Director Alfred Hannig, this initiative is aimed at the development of digital financial services, financial education and the creation of an effective consumer rights protection system.

"Soch agreement on the development of Fintech for improving financial accessibility" envisages training and progress of financial institutions for financial inclusion, the exchange of proven solutions to speed up access and use of financial services.

In addition, on the margins of the Forum, the Chairman of the Central Bank of the Republic of Uzbekistan held bilateral meetings with the Executive Director of AFI A Alfred Hannig and the Chairman of the Central Bank of the Russian Federation Elvira Nabiullina.

Participation in the Global Forum of the Alliance of Financial Inclusion allowed the exchange of experience in the implementation of innovative financial technologies, exploring new directions in financial education and accessibility for the development of these areas in Uzbekistan.

On 17 August 2018, the Central Bank of the Republic of Uzbekistan joined the Alliance of Financial Inclusion. The Alliance for Financial Inclusion was established in 2008 to assist member countries in developing and implementing financial accessibility policies by creating a platform for sharing training experiences and organizing working groups on topical issues of banking services, consumer protection, etc.

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