Wednesday , August 5 2020
Home / Bank of International Settlement / Covid-19: Boon and bane for digital payments and financial inclusion

Covid-19: Boon and bane for digital payments and financial inclusion

Summary:
FSI Briefs  |  No 9  |  24 July 2020 by  Nana Yaa Boakye-Adjei PDF full text (273kb)  |  11 pages Highlights Authorities around the world have moved to encourage the use of digital payments in response to Covid-19.  Some of these measures facilitate the use of digital payments during lockdown, while others provide longer-term support for fintech players and financial innovation more broadly.  For emerging market and developing economies, the measures respond to the unexpected opportunity to further promote financial inclusion objectives through the

Topics:
International Settlement considers the following as important:

This could be interesting, too:

Bank of Japan writes Average Interest Rates by Type of Deposit

Bank of Japan writes Sources of Changes in Current Account Balances (Projections for Aug.)

New York Fed writes Tracking the COVID-19 Economy with the Weekly Economic Index (WEI)

IMFBlog writes Global Imbalances and the COVID-19 Crisis

FSI Briefs  |  No 9  | 
24 July 2020
PDF full text
 (273kb)
 |  11 pages

Highlights

  • Authorities around the world have moved to encourage the use of digital payments in response to Covid-19. 

  • Some of these measures facilitate the use of digital payments during lockdown, while others provide longer-term support for fintech players and financial innovation more broadly. 

  • For emerging market and developing economies, the measures respond to the unexpected opportunity to further promote financial inclusion objectives through the use of technology. 

  • To increase their effect, these moves should include measures to combat financial crime and protect consumers.

International Settlement
The Bank for International Settlements (BIS) is an international company limited by shares owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.

Leave a Reply

Your email address will not be published. Required fields are marked *