Driving financial inclusion in Palestine through the development of a National Fintech Strategy and a corresponding governance framework.<br>
Picture with the Governor of PMA, Senior Leaders of PMA and GIZ
Vedanvi delivered a workshop to help Governors and Heads of Departments of eight South East European Central Banks, to raise awareness of the transformative power of Fintech. As a result of the workshop, some counties embarked on developing a Fintech strategy.
Need for development
South East Europe is a region that successfully transitioned to multipartydemocracy and a market driven economy.
Whilst successful, transitions are never that smooth. These countries lagged growth of their neighbours in Central and Eastern Europe, with widescale challenges in financial accessibility.
With support from development funds like European Fund for South East Europe (EFSE) and others, reform of the financial system and integration into the European Union are examples of strategies deployed to accelerate development.
The Governors of the Central Banks of the South East European Countries wanted to learn more about Fintech and how it could help tranform the final system for greater financial inclusion and economic prosperity.
The European Fund for South East Europe financed a workshop, which was arranged by Finance in Motion, for all governors of the eight countries in t he region. The meeting was hosted in Croatia and attached to EFSE’s annual meeting.
Vedanvi led the workshop by commencing with a awareness raising presentation and then facilitating discussion among the Governors and their Department Heads.
On day 2, Vedanvi was invited to present at the EFSE conference, addressing leaders of the financial community of the various countries, Fintech startups and other donor agencies like the EUropean Bank for Reconstruction and Development (EBRD).
Empowered for Change
Following the workshop, the Governors had a better understanding of the transformative power of Fintech in driving financial inclusion, SME financing and overall better economic prosperity.
We are aware that this workshop was a catalyst for a few of the eight South East European countries to explore the development of a Fintech strategy. Vedanvi has been specifically engaged with two of these eight countries in helping banks to digitally transform and to help the Central Bank in another country, develop their Fintech Strategy.
Overall, the foundational workshop help in 2017, will drive technology led transformation in South East Europe. Not only will it help them propser economically, through a more advanced financial system, it will also facilitate their integrate into the European Union.