Financial Crime World

National Financial Inclusion Strategy (NFIS) Development and Implementation Plan

Overview

This document outlines a draft plan for developing and implementing a National Financial Inclusion Strategy (NFIS) in [Country Name]. The strategy aims to accelerate financial inclusion, with a focus on key stakeholders, timelines, and milestones.

Development and Implementation Timeline

The NFIS development and implementation process is expected to take approximately 2 years, from September 2018 to June 2020. Key milestones are marked throughout the timeline:

  • September 2018: Begin steps 1-3
  • January 2019: Begin steps 4-6
  • January 2020: Begin steps 7-9
  • April 2020: Begin steps 10-14

Key Steps and Activities

Step 1-3: Secure High-Level Buy-In and Identify Stakeholders (September to December 2018)

  • Secure high-level buy-in for NFIS development
  • Identify and segment stakeholders
  • Develop an NFIS drafting model and roadmap

Step 4-6: Initial NFIS Brainstorming and Stakeholder Event (January to June 2019)

  • Develop a concept paper, initial NFIS brainstorming (vision, financial inclusion definition, policy areas)
  • Stakeholders event (NFIS kick-off)

Step 7-9: Data Collection and Diagnostic Work (July to December 2019)

  • Undertake data and diagnostic work
  • Initial NFIS drafting (policy objectives, baseling assessment, governance arrangements)

Step 10-14: Final NFIS Drafting and Stakeholder Event (January to June 2020)

  • Step 10: Stakeholders event (consultation workshop)
  • Step 11: Further NFIS drafting (action plan, M&E)
  • Step 12: Secure high-level approval of NFIS
  • Step 13: Stakeholders event (public launch)

Key Stakeholders and Coordination Framework

The following stakeholders are involved in the development and implementation of the NFIS:

National Steering Committee (NSC)

  • Chaired by the Governor/First Deputy Governor, CBG

National Task Force Committee (NTFC)

  • Provides technical advice/input and reports progress on implementation

National Secretariat (NS)

  • Responsible for implementing NFIS components under their mandate

Working Groups (WGs)

  • Report to NS
  • Provide data when needed
  • Serve as consultative forum