policymakers and program implementers, we must verify that our actions are indeed achieving inclusion objectives. we can only claim true success if we have incontestable proof that global partnerships and national goals adequately empower our ultimate stakeholders. bis central bankers ’ speeches conclusion as i end my term as chairman of the steering committee, allow me to extend deep appreciation to my distinguished colleagues in the committee, all member institutions, our strategic partners and donors, and the afi management unit, for your unwavering support. your active and thoughtful participation in the committee, and in afi processes, has made our work much more manageable and gratifying. i am pleased to announce that the steering committee will be led by incoming chair daniel schydlowsky of peru. as i contemplated an appropriate end to my opening remarks, tnt came to mind ; not only because it resembles the initials of our host country trinidad “ n ” tobago ; but also because of the massive force of change that we want to take place in our respective countries. let us all keep the three cs of afi aglow to see forceful initiatives in afi ’ s future – to catapult financial inclusion to greater heights around the world. thank you and good morning. bis central bankers ’ speeches

i am sure that other afi members also have interesting stories to tell about their kx experiences. collaboration and cooperation likewise characterize afi ’ s engagement with external stakeholders. this approach has resulted in rewarding partnerships and increased global attention on financial inclusion. let me cite some examples : we have initiated, and will continue to deepen the engagement with standard setting bodies ( ssbs ) thru a structured peer learning program. global standards greatly affect the level of exclusion, as well as the range, quality and affordability of financial products available to clients at the bottom of the pyramid. afi is in a unique position to contribute value to the ssb discussions ; given the wealth of experience that the membership has in practicing the proportionality principle ; in a manner that is conducive for financial inclusion. presently, the bsp chairs the basel consultative group workstream on financial inclusion. this working group aims to form an overall risk picture on financial inclusion that would be of particular relevance to banking supervisors around the world. afi members provided invaluable inputs to the workstream thru their participation in the range of practice survey. as implementing partner of the g20 global partnership for financial inclusion ( gpfi ), afi has gained stature as the voice of the developing world in the area of financial inclusion. we significantly contributed to the development of the g20 principles for innovative financial inclusion. finally, afi ’ s regular collaboration with the g24 in conducting policy forums, continues to deepen awareness on financial inclusion issues, and inspire action among g24 member countries. commitment, collaboration and cooperation are necessary, but insufficient to beget success. these factors must translate into a third c – concrete results. the results - oriented culture of afi ensures that policy solutions, regulatory enhancements and program interventions always benefit the ultimate stakeholder whom we all target to serve : the financially - excluded. to date, we have seen policy solutions that resulted in : • 16. 7 million mobile money accounts for 15 percent of adults, achieved within 2. 5 years in bangladesh • 7 million mobile money accounts for 67 percent of adults, achieved within 7 years in kenya • 19. 4 million basic bank accounts for 27 percent of adults, achieved within 5 years in mexico • 26. 7 million mobile money and cash card accounts, achieved within 4 years in the philippines • 1. 7 million savings accounts for 25 percent of adults, achieved within 4 years in rwanda this sampler data from selected afi members reinforce the importance of impact measurement and monitoring. as responsible