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The significant contribution that financial inclusion can make to achieving inclusive economic growth and the Sustainable Development Goals has gained global recognition. This has in turn led to critical policy reforms that help establish an enabling environment to promote financial inclusion.

This course will provide you with relevant knowledge of the key financial inclusion policy areas which are brought together by a comprehensive strategic approach. These areas are presented especially from the regulatory perspective and it is this that makes the content unique. The course will help develop skills to draft and analyse policies and to design strategies that are most relevant to emerging economies.

This online training is developed and implemented as joint initiative between Frankfurt School of Finance & Management and the Alliance for Financial Inclusion (AFI). You will benefit from world class education experience of a top-ranked business school, combined with the expertise from the world`s leading organization for financial inclusion policymakers.

What Do We Offer?

  • An interactive e-learning course including video lectures, PDF scripts, examples, practical exercises, online tests and case studies.
  • A discussion forum for course related issues as well as for exchange of opinions and experiences with , tutors, peers or the FSDF e-Campus team.
  • Personalized support from your e-Campus team.
  • The possibility to achieve a Frankfurt School certificate after passing the final exam or a confirmation of course completion after completing the course.
  • An international network of institutions hosting our final exam all over the world.

Tuition Fees

Registration Date Fee
Before January 15, 2018 EUR 1,100
After January 15, 2018 EUR 1,300

Final exam fee: 50 EUR (to be paid directly to the final exam host).

Discounts:

  • The staff of the paid up AFI member institutions are eligible for discount of Euro 300. Please contact AFI for further details on the discount, if required.
  • 10% group discount (for 5 or mre participants working for the same institution)
  • 10% for FS Alumni
Payment Options
  • Bank Transfer (bank fees to be coverend by the participants)
  • Credit Card
  • PayPal

Payment in instalments is unfortunately not possible.

Target Audience

Financial regulators, management and staff of financial service providers, both banks and non-banks, who are either working on developing regulations pertaining to financial inclusion or need to be aware of the regulatory aspects to help design and deliver financial services that promote financial inclusion. Consultants, professionals and student from the financial inclusion domain will also benefit from the course by understanding the strategic and regulatory framework that promotes financial inclusion.  

Workload

The course takes approx. 6 months assuming 5-7 hours of self-study per week. It consists of 7 mandatory units. The units need to be completed in a sequence. The next unit opens only if you complete the online test of the previous unit.

Unit 4 and Unit 6 include mandatory assignments to be submitted at a fixed deadline.

Registration

Register here for the next course intake starting on March 1st. If you register before January 15, 2018 you will benefit from EUR 200 early bird discount.

Course Details

This course provides a broad understanding of the designing and implementation of financial regulatory frameworks. It covers in detail the following financial inclusion policy areas – proportionate application of global standards, consumer education and empowerment, national strategies that ensure a coordinate approach to financial inclusion, measuring impact of financial inclusion. It also focuses on three core components that drive financial inclusion – financing of micro, small and medium enterprises, microfinance and microinsurance and taking the digital route to financial inclusion. 

Suggestions & recommendations

While you decide on the timing and pace of your learning experience we would like to give you some recommendations on how to get the most out of this course:

Your schedule: We will provide you a course schedule including voluntary and mandatory deadlines. The course schedule serves as guideline for your personal learning schedule and will help you completing the programme within the given time frame.

Exercises: Even though the exercises in the script are not mandatory we strongly advise you to use them as an opportunity to check your knowledge and to prepare for the final exam.

Assignments: With the assignments you will learn how to apply the knowledge learned during the course. It is important that you take time to read the necessary material and to solve the assignment.

Networking Opportunities: Use the forum to introduce yourself your peers and start interesting discussions.

Unit 1: Balancing Inclusion, Integrity and Stability

This introductory session provides you a broad understanding of the designing and implementation of regulatory frameworks for financial inclusion. The objective of this unit is to appreciate the importance of the relationship between financial inclusion and the core mandate of financial regulators to safeguard financial stability and integrity. The unit shares the role of the various global standard setting bodies (SSBs) in enhancing financial inclusion.

The unit also presents the challenges in implementing a proportionate policy and regulatory approach at the country level which achieves an effective balance between the three pillars of inclusion, integrity and stability. Technology has great potential to positively impact financial inclusion. The unit discusses different kings of RegTech and FinTech and their growth in controlled environments such as the Regulatory Sandboxes.

Unit 3: Financial Inclusion Strategies

There is empirical evidence that financial inclusion is higher in countries that have a documented financial inclusion strategy. This unit presents the need for a financial inclusion strategy to design a comprehensive and coordinated approach which connects the financial inclusion continuum described in the previous units – from the financial regulators to the consumers. It presents a step by step guide to develop a strategy, including how to monitor the implementation and progress made.  

Unit 5: Financing Micro, Small and Medium Enterprises (MSME)

Promoting MSME provides a channel to assist people from the lower income population to increase their income, to be financially active and included. Given the significant contribution of MSME to enhancing financial inclusion, this unit provides participants the understanding of the issues in access to finance for MSMEs and the possible regulatory solutions. It discusses the debate on defining MSMEs in a country context, the need for product diversity and the elements of a supportive financial infrastructure to enhance access to finance for MSME. Given the critical role of women in MSME, it highlights country examples which have excelled in women led MSME initiatives. 

Unit 2: Consumer Empowerment and Market Conduct

This unit focuses on the other end of the continuum – the consumers. Financial inclusion ensures that many first-time end users join the formal financial system and thus it is important that they are educated to be able to make the best use of the services and to be protected. This unit will help develop a clear understanding of issues and good practices in consumer empowerment and will help develop skills to be able to design, improve, review regulatory and/or institutional policies related to market conduct and supervision practices.  

Unit 4: Measuring Financial Inclusion

The impact of financial inclusion is significantly reduced in the absence of a framework that measures financial inclusion. This unit is very critical as it describes the role of quality data in developing financial inclusion policies and the indicators which help measure financial inclusion. It discusses in detail both demand and supply side data, qualitative and quantitative data and the use of global and national level data and how they contribute to policy making and lead to result based monitoring and evaluation of financial inclusion. This is a core component of any national strategy on financial inclusion.

Unit 6: Microcredit, Microsavings and Microinsurance

Unit 6 illustrates the alternative financial inclusion products and policies that play a main role in providing access to finance to the low-income population. A right mix of financial products is key to effective financial inclusion and thus the unit presents the microfinance products: microsavings, microcredit and microinsurance. The unit focusses the need for effective, affordable, diverse products and services  for the low income to benefit the most from them. The unit also discusses the regulations that guide these alternative products and delivery channels.

Unit 7: Digital Financial Services

The role of digital financial services in promoting financial inclusion is significant and it is inevitable that all concerned stakeholders of financial inclusion would opt the digital route in the future. The last unit of this course thus focuses on how the digital medium is relevant for the discussions in the previous units. The unit starts with basic terminologies to ensure an agreed understanding. It shares international examples to showcase the potential of DFS. It highlights the DFS ecosystem and its stakeholders and highlights the regulatory aspects that are required to ensure a coordinated approach among the diverse stakeholders of the DFS ecosystem.

FS-AFI Collaboration

The Certified Expert in Financial Inclusion Policy e-learning course is a joint collaboration of Alliance for Financial Inclusion (www.afi-global.org) and Frankfurt School. The development of this e-learning course was funded by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ).

AFI – Alliance for Financial Inclusion

AFI is a unique member owned network of regulators from over 90 countries working together to accelerate the adoption of proven and innovative financial inclusion policy solutions with the ultimate aim of making financial services moreaccessible to the world’s unbanked. It is based on the idea that
a global knowledge exchange platform is key to expanding and improving financial inclusion policy. Thus, the collaboration brings together Frankfurt School, one of the top business schools in Europe, and AFI the world’s leading organization on financial inclusion policy and regulation.

As a network organisation, capacity building of its members – which in turn contributes to the growth of the network and the sector – is a key objective of AFI. Capacity building initiatives include member trainings, knowledge exchange visits, peer learning. These have been very well attended and the demand has been increasing significantly for advanced training on these topics and also to induct more members and other stakeholders into financial inclusion policy.

An online version in partnership with Frankfurt School is expected to bridge this gap by reaching out to a larger audience. This will also contribute to the growth of the sector to which we are committed.

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