MESSAGE FROM THE CHAIR

I am pleased to present the Annual Report of AFI’s work and achievements for 2020. Despite the unprecedented challenges of COVID-19 in 2020 impacting the activities of the AFI Management Unit and the membership, it is encouraging to observe that our Network and the Management Unit continued to be agile by swiftly responding with practical policy solutions and modalities that preserved and cushioned the gains of financial inclusion we had achieved for more than a decade.

As the year progressed, we witnessed how the pandemic devastated economies and negatively affected livelihoods due to lockdowns and other restriction measures used to control the spread of infections. We members found strength in each other during this challenging time, through our engagement in peer learning and experience sharing of our COVID-19 policy responses that helped us to identify the right policy and regulatory solutions to respond to the economic impact of the pandemic. I was also encouraged to hear from some members who found opportunities to increase financial inclusion in their respective countries during the pandemic period particularly through the acceleration of digital financial services and electronic payments that added the underbanked population into the formal financial system.

The challenges in 2020 did not deter members from convening key governance meetings to make strategic decisions for the network. Members at the first virtual Annual General Meeting of AFI in September 2020, adopted another two Financial Inclusion Policy Models that provided guidance and benchmarks in the policy areas of national financial inclusion strategies (NFIS) and consumer protection for digital financial services (DFS). I am also heartened with the membership’s decision to amend the Articles of Association to require a minimum of three women directors to be appointed to the Board for the coming Board term. I commend the AFI Management Unit under the leadership of AFI Executive Director, Dr. Alfred Hannig, for their dedication and support, which they fervently provided to members despite the impact of the pandemic on their strategy and operational plans. I applaud them for being agile and flexible enough to adapt the delivery modalities immediately so that AFI can continue to serve and support members, to ensure that the network did not fall behind on meeting respective in-country financial inclusion goals.

I wish to thank my colleagues on the Board of Directors, Board Committees and Management Unit staff for providing stability and support to follow through on our commitment to members. I call on members to continue with the resolve on steering and supporting our organization in the right trajectory of advancing financial inclusion in the network. As we move forward together, I am confident that we will remain focused and continue to ensure that the objective of AFI’s unique horizontal cooperation model is upheld to serve members’ needs and delivers on its mandate.

Tarek Amer

Governor, Central Bank of Egypt Chair, AFI Board of Directors