Ep. 148: The Role of Supervision in the Financial Inclusion of Forcibly Displaced Persons
Listen now
Description
The worldwide total of forcibly displaced persons (FDPs) reached 110 million in 2022, with the cross-border refugee population standing at 36.4 million in 2023. The continuing cross-border refugee crisis caused by global conflict has created great vulnerabilities for FDPs. This TC Note and accompanying podcast discuss the expansion of access to finance for FDPs and the unique challenges it presents for financial regulators and supervisors, such as the need to comply with customer due diligence requirements under AML/CFT legislation.They also outline actions that supervisors can take towards achieving financial inclusion for FDPs, including adopting risk-based approaches to customer identification requirements, implementing financial education programs, and encouraging the development of financial infrastructure in refugee centres.Speaker: Mercy Buku, Program Leader, Toronto CentreHost: Ruth Dueck-Mbeba, Financial Inclusion Advisor, Toronto CentreRead the transcript here (https://torcentre.sharepoint.com/:b:/s/Files/EeV_t4odCS9CqUoVIfJtPVYB7Az0s54prAuvUsPzGGIzVw?e=pZxMi6). Read their biographies here (https://torcentre.sharepoint.com/:b:/s/Files/Ef32biDwqcpAhcDrJv9lxmYBv-Y4ioTewiAzL6wLneWmbw?e=6zbAs3).https://www.torontocentre.org/ (https://www.torontocentre.org/)
More Episodes
This was the first webinar of the series on the revised Core Principles for effective banking supervision.The post-Global Financial Crisis (GFC) period has seen banks continue to build their resilience to financial risks, underpinned by stronger regulatory and supervisory frameworks, including...
Published 06/25/24
Published 06/25/24
Cross-border supervision is one of the more challenging supervisory priorities. It adds layers of complexity, new stakeholders, and potential challenges to effective supervision. This TC Note and accompanying podcast discus the implications for home and host financial supervisors of cross-border...
Published 05/15/24