In a significant move towards advancing financial inclusion, the Central Bank of Comoros (Banque Centrale des Comores – BCC) has officially become a principal member of the Alliance for Financial Inclusion (AFI). The announcement was made through a statement released by AFI, emphasizing the Central Bank’s commitment to fostering financial inclusivity on a global scale.
AFI expressed its pride in welcoming BCC into its extensive network of financial regulators and policymakers. The statement highlighted BCC’s ambitious goals for financial inclusion, noting that by joining AFI, the Central Bank of Comoros takes a crucial step towards benefiting from AFI’s renowned peer learning model.
Governor Dr. Younoussa Imani of BCC, in light of significant recent reforms in Comoros’ banking system, expressed his commitment to maintaining the momentum of progress. During his annual address, Dr. Imani outlined his aspirations to achieve the country’s economic development objectives while simultaneously modernizing the BCC. The upcoming year, 2023, has been designated as a pivotal period dedicated to the implementation of new monetary policy instruments and initiatives aimed at enhancing financial inclusion.
As a Principal member of AFI, BCC is expected to play a vital role in contributing to the African Financial Inclusion Policy Initiative (AfPI). Serving as AFI’s primary platform for African members, AfPI is instrumental in supporting the development and execution of practical financial inclusion policies and regulatory frameworks across the continent. Additionally, AfPI coordinates regional capacity building and peer learning efforts, providing a collaborative platform for members to share expertise and experiences.
The inclusion of Banque Centrale des Comores in AFI reflects a collective commitment to advancing financial inclusion strategies, fostering cooperation among global financial institutions, and contributing to the sustainable economic development of Comoros and the broader African region.