Financial Inclusion Overview on the occasion of Arab Financial Inclusion Day
26 April 2018
Recognising the vital role of financial inclusion in strengthening financial stability and promoting sustainable development and social well-being.
Recognising the vital role of financial inclusion in strengthening financial stability and promoting sustainable development and social well-being, many countries have taken measures to promote the financial inclusion as one of the objectives of national strategies in order to integrate all segments of society into the formal financial system, especially young people, women and entrepreneurs. To this end, it is necessary to improve their access to appropriate financial services and products matching their needs, at an appropriate cost and under reasonable conditions, to raise their awareness of financial issues in order to enable them to make the right decision on the use of financial and investment instruments. This year, we celebrate the Arab Financial Inclusion Day - April 27 2018 under the theme of "Promoting young people's and entrepreneurs' access to financial services".
In this regard, the State of Qatar has paid a great attention to prepare a national strategy for financial inclusion and literacy as the Prime Minister and Minister of Interior Sheikh Abdullah Bin Nasser Bin Khalifa Al Thani has directed to constitute a committee to prepare the Qatar National Financial Inclusion and Financial Literacy Strategy, by virtue of the administrative decision no. (68) of 2015, with the chairman of Qatar Central Bank (QCB) and the membership of the financial institutions, Ministry of Finance, Qatar Financial Markets Authority, Supreme Education Council, Qatar Foundation, and Qatar Media Corporation.
Accordingly, the Committee held several meetings and followed up the recent international and regional developments on the financial inclusion, taking into account the Qatar National Vision 2030 along with the objectives of the National Development Strategy. The Strategy has been initially prepared and will be then launched by the end of 2018.
On this Occasion, QCB calls all financial institutions to provide premium financial services for all segments of society, especially young people, women and entrepreneurs.