Along this perfectly understandable line of reasoning, avoiding moral hazard, the UK Financial Services Compensation Scheme, in accordance with the European directive then in force, covered in full the first £ deposit but only 90pc of the next £ The Northern Rock crisis showed in a dramatic way that such a scheme was totally ineffective in preventing a bank run. Almost at the other end of the spectrum of possibilities, the Irish decision, in September 2008, to increase its deposit insurance to an unlimited amount, triggered a transfer of savings from other countries, especially from the UK, and from branches of non-Irish banks operating in Ireland to Irish banks. It contributed to Ireland's financial debacle and illustrated the need for an international cooperative stance with regard to deposit insurance. Since then we have introduced in Europe a resolution scheme that changes dramatically the hierarchy of creditors and modifies profoundly the risks for small depositors and the purpose of a deposit insurance regime. There is no crisis-proof deposit insurance scheme and this conference has been a very welcome opportunity to discuss the various models, share experiences, compare principles, governance and operating methods. Thank you all for your useful testimonies today. We all share ambitious objectives: to address crisis situations, manage the multicultural framework in times of crisis, handle cross-border resolution cases, and structure Deposit Insurance Schemes to deal with such events and ensure payouts. To achieve these objectives, international cooperation, even though it may sometimes be difficult to implement, can be highly beneficial.

Leasi Papali’i Scanlan: Financial inclusion and mobile banking in Samoa Address by Mr Leasi Papali’i Scanlan, Governor of the Central Bank of Samoa, at the official opening of the Workshop/Information Exchange on “Financial Inclusion and Mobile Banking in Samoa”, Apia, 20 January 2010. *  *  *  At the outset, I would like to thank all of you for accepting our invitation to participate in today’s Workshop on Mobile Money and Mobile Banking, which are two key strategies for implementing what is known as Financial Inclusion. I would also like to extend a warm welcome to our partners on financial inclusion in the Pacific, Mr. Tillman Bruett and Mr. Michael McCaffrey of the United Nations Capital Development Fund’s Pacific Financial Inclusion Program. As stated in our invitation letter, you have been identified as Individuals and Representatives of Organizations with the potential to make a significant contribution to financial inclusion and financial literacy; especially those of you with an interest in mobile telephones and financial services businesses in general. I trust that the free exchange of your valuable knowledge and experiences, will not only greatly benefit the other Participants of today’s Workshop but also Financial Inclusion (as a whole) in Samoa. In July 2009, I attended a Pacific Regional Meeting in Fiji to discuss the advent of Microfinance in the Pacific. At this Meeting, I was introduced to the concept of Financial Inclusion, and I was subsequently convinced of its relevance and importance to Samoa.