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Debate: Furthering ChildFriendly Banking Financial leaders discussed how to get financial institutions worldwide to embrace ChildFriendly Banking and the role of financial institutions in furthering this agenda. The debate outlines how to address ChildFriendly banking and financial inclusion on country/regional platforms from a global perspective. Chair

Mr. Nigel Chapman, Chief Executive Officer, Plan International

Speakers -  Mr. Luis Felipe Derteano, Chairman, Group ACP - Mr. Carlos Alberto Heisecke Rivarola, President, Financiera el Comercio - Ms. Joy K. Hoffman, Group Vice President, Federal Reserve Bank of San Francisco -

Ms. Joanne Kellermann, Executive Director, De Nederlandsche Bank

-  Mr. Dharmasiri Bandara Rekogama, Project Relationship Manager, Hatton National Bank Mr. Nigel Chapman, Chief Executive Officer, Plan International, asserted that along with health, education, water and protection, children also need economic development to tackle poverty. To be successful, Child and Youth Friendly banking should be all-inclusive; products must be shaped by consumers and financial institutions should ensure that children are aware and understand their economic rights. Mr. Luis Felipe Derteano, Chairman, Group ACP, explained that poverty means excluding people from capital, insurance, housing, as well as financial protection and education. Tackling poverty means “fight[ing] these exclusions”. ACP has started to develop Child and Youth Friendly savings products following the Child and Youth Friendly Banking Products Manual as provided by the CYFI Secretariat. Mr. Carlos Alberto Heisecke Rivarola, President, Financiera el Comercio, discussed the need for partnerships between civil societies and financial institutions to reduce poverty and generate a positive impact on society. Financiera el Comercio is currently working with Plan International to add social and financial education to the national school curriculum in Paraguay. Ms. Joy K. Hoffman, Federal Reserve Bank of San Francisco, highlighted that with high dropout rates, basic education should be made a priority to improve young people’s lives. Ms. Joanne Kellermann, Executive Director, De Nederlandsche Bank cited confidence as a major requirement for both financial stability and economic growth. In times of crisis, regulatory authorities face a lot of criticism thus it is important to restore trust in the economy. Encouraging clear and transparent communication between financial institutions and customers (including children) and financial education can also help reduce some forms of uncertainty and distrust. Mr. Dharmasiri Bandara Rekogama, Project Relationship Manager, Hatton National Bank, introduced Hatton National Bank’s microfinance and mobile banking unit initiative for youth. Mr. Dharmasiri Bandara Rekogam stated that young entrepreneurs enrolled in financial education programs should have access to mobile banking units as they empower and encourage youth to become economically sustainable.

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Children And Youth Reshaping The Future Of Finance

2012 - The First Annual Child and Youth Finance International Summit & Awards Ceremony 2012  

The report provides an overiew of the sessions and outcomes of CYFI's first International Summit and Awards Ceremony held in Amsterdam from...

2012 - The First Annual Child and Youth Finance International Summit & Awards Ceremony 2012  

The report provides an overiew of the sessions and outcomes of CYFI's first International Summit and Awards Ceremony held in Amsterdam from...