IMF and Worldbank Annual meetings and Bali Fintech Agenda

Civil society delegation at IMF and Worldbank (UN specialized agencies)annual meetings in Indonesia, presented the Bali Fintech agenda.

Hon President of Indonesia released the 12 point Agenda (developed by UN systems agencies, UN civil society of UNECOSOC)

The Agenda brings together and advances key issues for policymakers and the international community to consider as individual countries formulate their policy approaches. It distills these considerations into 12 elements arising from the experiences of member countries.1

I.Embrace the Promise of Fintech

II.Enable New Technologies to Enhance Financial Service Provision

III. Reinforce Competition and Commitment to Open, Free, and Contestable Markets

IV. Foster Fintech to Promote Financial Inclusion and Develop Financial Markets

V.Monitor Developments Closely to Deepen Understanding of Evolving Financial Systems

VI. Adapt Regulatory Framework and Supervisory Practices for Orderly Development and Stability of the Financial System

VII. Safeguard the Integrity of Financial Systems

VIII. Modernize Legal Frameworks to Provide an Enabling Legal Landscape

IX. Ensure the Stability of Domestic Monetary and Financial Systems

X.Develop Robust Financial and Data Infrastructure to Sustain Fintech Benefits

XI. Encourage International Cooperation and Information-Sharing

XII. Enhance Collective Surveillance of the International Monetary and Financial System

Source :

https://www.imf.org/en/Publications/Policy-Papers/Issues/2018/10/11/pp101118-bali-fintech-agenda