Accelerating Financial Inclusion

Identifying Practical Solutions to Accelerating Digital Financial Services for Inclusive Economies


Identifying Practical Solutions to Accelerating Digital Financial Services for Inclusive Economies

Sharing and addressing the current opportunities and barriers to greater financial inclusion in the evolving digital economy.

In July 2019, CCX Inclusive Business (CCX), in partnership with the Bill and Melinda Gates Foundation, convened a small number of senior financial sector policy-makers and regulators at the Rockefeller Foundation’s Bellagio Center. Participants from three of the most important markets—Egypt, Nigeria, and Indonesia—along with experts from India, China, and Estonia, joined for a working meeting entitled, Practical Solutions to Accelerating Digital Financial Services for Inclusive Economies.” We chose to include these markets because of their early successes in leveraging technology for financial inclusion and because they represent the greatest potential to enact forward thinking regulations for the greatest number of people.

Aishah Ahmad
Deputy Central Bank Governor, Central Bank of Nigeria

Sunday Akin Dare
 Executive Commissioner, Nigerian Communications Commission

Mohammed Kari
Commissioner, National Insurance Commission (NAICOM)

Ayman Hussein
Subgovernor, Central Bank of Egypt

Rasha Negm
General Manager of FinTech and Innovation, Central Bank of Egypt

Ir Nurhaida,
Vice Chairman of The Board Of Commissioners Indonesia Financial Services Authority, Otoritas Jasa Keuangan (OJK)

Triyono Gani, Executive Director
 Financial Innovation Group, Otoritas Jasa Keuangan (OJK)

Dr. Duoguang Bei
President of the Chinese Academy of Financial Inclusion

Tanuj Bhojwani
 Ispirit Foundation Representative

Kalle Palling
MP, Parliament and Co-founder of Cachet

Jason Lamb
Deputy Director, Financial Services for the Poor (FSP), Bill and Melinda Gates Foundation


  • To foster open and honest dialogue about the key challenges that government leaders are facing in advancing financial inclusion in their respective markets.
  • To promote knowledge sharing between markets and experts to identify practical solutions for accelerating financial inclusion in Indonesia, Egypt, and Nigeria.
  • To develop an achievable, time-bound plan for each of the three markets to accelerate financial inclusion, including internal and external resources required to address the actions identified.

In the short term, we collectively identified and began to develop six initiatives (two per country) that will accelerate financial inclusion by the end of 2020. Expert participants agreed to assist each country with specific technical requirements. For example, all three countries will engage the newly launched MOSIP collaboration (a modular, open sourced digital identity platform) presented by the Indian delegate and the Gates Foundation to address some of the key identity issues raised at the meeting.

In the longer term, we expect to be able to report on the progress of each initiative, as well as the synergies created through collaboration of the Bellagio meeting participants.