Course Duration: 19 minutes
Course Points: 15
On this episode of Fridays with Fintelekt. Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with F. Christopher Calabia, Senior Advisor, Supervisory & Regulatory Policy, Bill & Melinda Gates Foundation about financial inclusion and the role of digital financial services.
The Gates Foundation supports work that addresses inequities in healthcare, education and economic empowerment, especially for women and girls and believes that access to digital financial tools allows the unbanked and underbanked sections of the population to lift themselves and their families out of poverty sustainably.
The Foundation therefore has a direct interest in promoting appropriate regulation and support for the relatively new business model of digital financial services, and in ensuring that it is not abused for money laundering or terrorism financing.
Chris applauds the FATF’s initiative in broadening the dialogue and reaching out proactively to a wider set of stakeholders to study the unintended consequences of its standards. The consultative process will bring in voices that have not been represented in these discussions before – such as the poor, women, advocacy groups and international development organisations.
The conversation explores many more themes around the role of stablecoins in financial inclusion, regulatory evolution and how it can keep pace with technology trends, and the need for innovative approaches to regulation.