WSBI: Marrakech Declaration - An account for everyone

11 May 2012

On the occasion of the 2012 World Saving Banks Institute Congress, WSBI members adopted the Declaration, "An Account for Everyone", re-affirming their strong support to financial inclusion, a commitment which they maintain despite the difficult economic and market context for the financial sector.

Based on this renewed and voluntary approach to financial inclusion, the members of WSBI commit to enhance further their efforts towards the provision of an account for everyone, especially through:

• the implementation of a shared vision successfully to advance financial access and financial usage, which entails:
  • the offer of quality products and services, with a view to integrating a maximum number of households in the formal banking system, in a long-term perspective;
  • the existence of a basic, entry level product for the still unbanked and low-income groups. Services provided should be fair, affordable, convenient, cost effective, accessible and appropriate;
  • the access to a diversified range of services for all, with priority given to the capability to transact, i.e. to receive and make payments, as a key incentive for initiating a banking relationship;
  • a diversity of sound and efficient financial services providers operating in a level playing field.
• consider innovations in a number of key fields, with a view to provide competitive and adapted services to clients and extend further their outreach to the unbanked and underserved segments:
  • review their product offer, with the objective of ensuring that it includes a simple, user-friendly product, focused on the specific needs of the most vulnerable customers;
  • develop alternative customers’ points of contacts to facilitate the accessibility and the convenience of the banking services, especially for unserved and remote groups, through banking beyond branches solutions and innovative partnership models;
  • participate in financial education initiatives, both to provide basic knowledge about money and to empower customers, clearly distinguished from product marketing or promotion.

WSBI and its members call upon stakeholders, policy-makers and regulators to support their global financial inclusion challenge by:

• designing comprehensive strategies to achieve inclusive financial sectors, at national/regional level, as part of a long-term vision for poverty alleviation and social cohesion;
• developing an enabling and proportionate policy, regulatory and supervisory framework, conducive to financial inclusion;
• defining supportive conditions to encourage the opportunities that technology solutions bring to expand access to finance.

Full declaration

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