CONCLUSION

• Define measurable objectives for the industry. From the surveys and baseline studies, establish indicators or measures of the established objectives, which allow monitoring and serve as the basis for the monitoring and evaluation stages. • Complement evidence-based diagnosis that identifies priority target populations through consultations with public authorities and stakeholders, who have knowledge insight into target groups and responsibility for interventions delivery. • Consult target groups, through interviews, focus groups or qualitative research, to ensure that the content and format of financial education training programs, and the financial products and services directed at them, are appropriate to their needs and capabilities. • Adapt the provision of DFL initiatives to the needs of the target groups, based on quantitative evidence, as well as qualitative research (interviews, focus groups, stakeholder consultations).

Advancing DFL of a population is crucial to enhance access to and usage of quality formal financial services and preserve financial inclusion gains. The COVID-19 pandemic led to an unprecedented growth in the use of DFS globally, highlighting the imminent necessity to adequately build the capacity of consumers in the use of DFS.

This Toolkit will complement the AFI’s Guideline Note on DFL in providing practical guidance for regulators and policymakers to deepen DFL within their jurisdictions.

Together with AFI’s Guideline Note on DFL, it represents the first attempt in the field to formally define DFL and guide its implementation. Within the AFI network, it will serve to continue the capacity building of the network and beyond.