Policymakers, regulators and supervisors in emerging markets are under pressure to develop, implement and enforce policy and regulation that conforms to global best practice but is effective locally despite considerable constraints. Cenfri leverages the legal background, policymaking and regulatory experience of key team members and assists via direct regulatory development or policy guidance but more often through technical assistance and skills building.
Much of our work has been in the financial sector across Africa, Asia and Latin America. This includes an impressive “regulating for innovation” portfolio in support of financial sector regulators who are grappling with innovation or market development mandates in regulatory environments that do not effectively accommodate the range of risks presented by new financial service innovations. We also support improved digital and data governance in Africa. Examples range from creating a set of scenarios on the possible digital futures in Africa, to developing a data-sharing policy for the Government of Rwanda and researching fit-for-context open finance solutions for Africa.
In 1778 the first modern-day savings bank in Germany was founded in Hamburg. The bank was set up to develop solutions for people with low incomes to save small sums of money and support business startups. Fast forward two centuries and there are now 431 savings banks in Germany with
Financial inclusion emerged as a key pillar of the ASEAN Economic Community (AEC) beginning in 2015. The ASEAN Financial Inclusion Conference in 2014 concluded with the release of the “Yangon Outcomes for Financial Inclusion”, a set of recommendations to accelerate financial inclusion in the ASEAN region. This 2014 report focuses
An update on microinsurance in South Africa. In 2011, a policy document entrenched and refined a proposed microinsurance regulatory framework for South Africa that was envisaged to be incorporated into a forthcoming Microinsurance Act and subordinate legislation. However, in 2013 the decision was made to no longer pursue standalone microinsurance
SADC faces high levels of exclusion in insurance. It is therefore appropriate for SADC supervisors to pursue inclusive insurance markets based on international guidance. Since the vast majority of SADC populations are excluded from insurance, it also holds that retail markets are extremely small. Microinsurance can, therefore, form a foundation for
Financial Inclusion is rapidly moving up the policy agendas of many countries, particularly developing countries. However, one of the obstacles to more effective and widespread financial inclusion is that the international standards that guide the delivery of financial services were originally conceived for financially-advanced developed countries. In 2011, the Global
As economic hub of the region, South Africa attracts a large number of migrant workers from neighbouring countries, many of them without the necessary documentation and work permits. Regardless of their status, migrants send money home to families that are often dependent on these remittances for survival. Though the majority
This Cenfri research project conducted for the Finmark Trust Zambia provides an overview of the remittances landscape in Zambia considering the trends, opportunities and challenges. The purpose of this document is to provide a basis for debate amongst industry, regulators and other interested parties and identify areas for future research.
This South African National Treasury discussion paper on microinsurance sets out the proposed new approach to the regulation of microinsurance. The proposed approach seeks to balance the need for consumer protection with financial inclusion and reduce the impact of the cost of regulation on the market. It also proposes changes to the way
This study was conducted by Genesis Analytics, with the participation of Cenfri members, under the guidance of a steering committee consisting of representatives from the FIRST Management Unit, World Bank, International Monetary Fund (IMF), the UK’s Department for International Development (DFID), the Consultative Group to Assist the Poor (CGAP), the
The need to provide for funerals is one of the key drivers of financial behaviour for many South Africans and has led to a relatively sophisticated and widely accessed informal financial sector. Informal savings groups play an important role in mitigating the risks of low-income households and are often complemented
In 1778 the first modern-day savings bank in Germany was founded in Hamburg. The bank was set up to develop solutions for people with low incomes to save small sums of money and support business startups. Fast forward two centuries and there are now 431 savings banks in Germany with
Financial inclusion emerged as a key pillar of the ASEAN Economic Community (AEC) beginning in 2015. The ASEAN Financial Inclusion Conference in 2014 concluded with the release of the “Yangon Outcomes for Financial Inclusion”, a set of recommendations to accelerate financial inclusion in the ASEAN region. This 2014 report focuses
An update on microinsurance in South Africa. In 2011, a policy document entrenched and refined a proposed microinsurance regulatory framework for South Africa that was envisaged to be incorporated into a forthcoming Microinsurance Act and subordinate legislation. However, in 2013 the decision was made to no longer pursue standalone microinsurance
SADC faces high levels of exclusion in insurance. It is therefore appropriate for SADC supervisors to pursue inclusive insurance markets based on international guidance. Since the vast majority of SADC populations are excluded from insurance, it also holds that retail markets are extremely small. Microinsurance can, therefore, form a foundation for
Financial Inclusion is rapidly moving up the policy agendas of many countries, particularly developing countries. However, one of the obstacles to more effective and widespread financial inclusion is that the international standards that guide the delivery of financial services were originally conceived for financially-advanced developed countries. In 2011, the Global
As economic hub of the region, South Africa attracts a large number of migrant workers from neighbouring countries, many of them without the necessary documentation and work permits. Regardless of their status, migrants send money home to families that are often dependent on these remittances for survival. Though the majority
This Cenfri research project conducted for the Finmark Trust Zambia provides an overview of the remittances landscape in Zambia considering the trends, opportunities and challenges. The purpose of this document is to provide a basis for debate amongst industry, regulators and other interested parties and identify areas for future research.
This South African National Treasury discussion paper on microinsurance sets out the proposed new approach to the regulation of microinsurance. The proposed approach seeks to balance the need for consumer protection with financial inclusion and reduce the impact of the cost of regulation on the market. It also proposes changes to the way
This study was conducted by Genesis Analytics, with the participation of Cenfri members, under the guidance of a steering committee consisting of representatives from the FIRST Management Unit, World Bank, International Monetary Fund (IMF), the UK’s Department for International Development (DFID), the Consultative Group to Assist the Poor (CGAP), the
The need to provide for funerals is one of the key drivers of financial behaviour for many South Africans and has led to a relatively sophisticated and widely accessed informal financial sector. Informal savings groups play an important role in mitigating the risks of low-income households and are often complemented
