WEF launches financial inclusion principles
The World Economic Forum has launched a set of financial inclusion principles. Under an initiative known as Edison alliance, the framework envisages data driven financial inclusion that is built on digital systems. Other facets of the framework include inclusion, integration and economic sustainability. The principles shift from current initiatives which are based on social entrepreneurship or grants to vulnerable groups. To achieve financial inclusion, the principles call on governments to ‘encourage supply and uptake of services, maintain a level playing field, and promote competition and market entry’.