that afi espouses. the government in the current fiscal year 2009 / 10 proposed to introduce branchless banking. this will enable banks to provide their services through agents with wide distribution networks and therefore legalizing agent banking and reducing costs of financial services. there has been a significant reduction of the proportion of our population that remains unbanked from 38 % in 2006 to 33 % in 2009 according to the national financial access surveys conducted by the cbk and financial sector deepening ( fsd ) kenya. this reduction in the unbanked is greatly attributed to the contribution of mobile phones as a channel for money transfer. the recent financial access survey also indicates that the proportion of our population accessing banking services increased from 19 % to 23 % between 2006 and 2009. however, 33 % of the population still has no access to any form of financial service and 27 % access financial services from the informal financial sector. despite the progress we have made towards expanding financial access, the majority of kenyans still lack access to formal financial services. we are therefore keen to draw on the wealth of experiences that are brought to the table by participants in this forum. we will, over the next three days, share experiences on smart financial inclusion policies that have worked elsewhere. we will thereafter adopt these policies to suit our respective countries as we work together to push forward the global financial access frontiers. mr. prime minister, this forum also comes at a time when the global economy is suffering a slow down, with economic activities weakened considerably. although there are signs of improvement, we are yet to see full recovery. globally, policy actions taken to mitigate the crisis have been geared towards maintaining effective and well functioning financial systems and to reinforce their resilience in order to guard their integrity. we have acted accordingly to ensure that our financial system remains sound, secure, stable, accessible and trusted. we are in constant vigilance that this remains the case and any action necessary to achieve this will be undertaken. with these few remarks, it is now my pleasant duty and honour to welcome the deputy prime minister and minister for finance to make a few remarks and to welcome you to address this forum. honourable deputy prime minister and minster for finance, you have the floor.

the transposition of european union directive ( psd ), which is considered as one of the most avant - garde pieces of legislation in this field, is a concrete initiative in this regard. the bank of albania, in collaboration with the experts of the world bank and bank of italy, has prepared a draft - law, which will be subject to public discussions very soon. to support these initiatives, the bank of albania is analysing the possibility of innovative 1 / 2 bis central bankers'speeches developments in the systems we operate, such as : instant payment, which, based also on international experience, would reform the payment markets from the digitalisation point of view. * * * * * * dear participants, given its very nature, this new dimension of payment systems development requires certainly broader cooperation by all the stakeholders. in this regard, the inter - institutional cooperation has resulted as very effective through the organisation and functioning of the national payment systems committee. the committee is a collegial advisory body, chaired by the bank of albania, and is making important steps forward toward reformation and modernisation of retail payment systems. its vision for the future is “ creating a contemporary and all - inclusive retail payments market, supported by safe and efficient infrastructure, and a broad range of instruments and services that satisfy the needs of the users ”. the realisation of this vision requires legal, regulatory and infrastructural developments. it must be noted that the above - cited initiatives, formalised in the relevant national strategy, have been substantially supported by renowned international institutions such as the world bank, the european central bank, and central banks from eu countries. hence, let me now extend my sincere appreciation to these institutions for their support, and to their distinguished representatives who will share with you today their experience in the development of retail payment systems market. from the perspective of communication and cooperation, the regional cooperation and sharing of experiences is deemed as very important and fruitful. as a result of market development and cultural characteristics and financial education level in the countries of our region, experience sharing assumes particular importance, as it may contribute significantly to achieving the goals more effectively. last but not least, another development is the joint initiative of the bank of albania, ministry of finance and economy, and minister of state for diaspora for a higher attention related to attracting and effectively using remittances, as a component of retail payments. at the international level, remittances make a significant contribution to the economy and welfare of the people