Good morning.
It is my honor and privilege to welcome you, on behalf of the Board, to the 11th Annual General Meeting (AGM) of the Alliance for Financial Inclusion. I would have loved to join you in person, but due to flight disruptions, I will deliver my remarks from Manila.
We are a gathering of 41 Central Banks, financial regulators and member institutions, a testament that this year’s AGM comes at an important moment for AFI.
It is not simply an annual governance requirement, but an opportunity for us, as members of the network, to reflect on what we have achieved together, make important decisions, and look ahead to how we can position for the future, responding effectively to a rapidly changing financial inclusion landscape.
Before I proceed, I would like to recognize the Bank of Papua New Guinea for the excellent organization of today’s General Meeting, yesterday’s AFI Board meeting and personally, for the hospitality extended to all guests and to my delegation of the National Bank of Rwanda.
We meet at a time when the world faces unprecedented crises but also exponential progress in financial inclusion, thanks to digital transformation. In addition, artificial intelligence, climate change, cyber risks, demographic shifts and evolving economic conditions are reshaping financial systems and creating both opportunities and new vulnerabilities.
This makes our collective work more important than ever. AFI must continue to help members anticipate change, respond to emerging risks, harness innovation and ensure that financial inclusion translates into meaningful and sustainable outcomes.
Financial well-being, financial resilience of households, communities and businesses has to be and remain at the center of AFI’s work.
Distinguished colleagues,
We have a substantial agenda before us, and we will tackle 13 agenda items, covering AFI’s governance, performance, strategic priorities and institutional sustainability.
While the agenda is broad, the issues before us are closely connected by one objective: to strengthen AFI as a member-owned institution and ensure that it remains fit for purpose in a rapidly changing global environment.
Several items will require collective decisions and voting, while others provide opportunities to take stock of progress, consider strategic developments and chart the way forward.
In particular, I would like to reflect on our Alliance’s purpose: because, in the midst of this volatile, uncertain and increasingly complex world, if we don’t know where we’re going, we will never get there.
The discussions around AFI Renovate will therefore enable us to look 10 years ahead and define the AFI of the next decade.
As members of AFI, we ought to engage actively and constructively throughout the discussions. Indeed, the quality of our decisions will depend on the diversity of perspectives, openness of our dialogue and our willingness to act collectively.
The strength of AFI has always been its members. Our collective commitment to financial inclusion and our large network representing 82 countries, are our greatest assets. Our country-led, peer-learning model remains at the heart of what makes this network unique.
At the same time, the environment around us is changing. We must therefore continue to evolve as a network, strengthening our governance, ensuring institutional sustainability, mobilizing resources effectively and maintaining a clear focus on the value we deliver to members.
Our responsibility is not only to preserve what has made AFI successful, but also to prepare the network for the challenges and opportunities of the 5 to 10 years. The world in the 2030s will be fundamentally different from the world we know. Yet, one truth remains: financial systems which are not inclusive will not be stable. They will not contribute to the enduring prosperity we all strive to build for our nations.
Ultimately, our success will be measured by how effectively the decisions we make in this room today turn into practical support for our members and better outcomes for the people and communities we serve.
Distinguished colleagues and partners,
I look forward to constructive deliberations, thoughtful contributions and decisions that strengthen AFI and position our network for the future.
As I conclude, I would like to thank Deputy Governor Dunn who has graciously agreed to preside over this AGM on behalf of the Board.
I wish us all a successful and productive AGM.
Thank you.