2.2 - presentation - adinan maning - 22-03-2010

8/8/2019 2.2 - Presentation - Adinan Maning - 22-03-2010

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The global voice of savings and retail banking

Presentation Outline

y Introduction

y Financial Inclusion and Education

y Managing Conflicts of Interest

y Responsible Selling Practices

y Core Guidelines

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W orld Savings Bank Institutey 110 banks & national associations from 92 countriesy WSBI Asia Pacific 23 members in 16 countriesy Members large outreach accessibility of financial

services to ally Focus access to finance and banking & providing

financial education to the low income and

underserved customer groups

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W SBI - Financial Inclusion & Educationy Increase access to financial services, especially the

poory Provide basic information about moneyy Establish trust between financial institutions and

customersy Run financial education initiatives and programsy Collaborate with stakeholders i.e. government,

private and public companies

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W SBI Members Experiences inFinancial Education

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Bank Simpanan Nasional, Malaysia -Educating the Community

48 Micro Finance CentersAdvisory centers formicro entrepreneurs

380 BranchesAccess to various financialproducts & services

6 Mobile BanksBasic banking knowledge &facilities for rural areas

Various school programsInculcate savings habitsfrom young

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G overnment Savings Bank, Thailand Bank for the People

Dissemination of basic financial knowledge - G SB s LearningCenterso launched in communities to :

o encourage people develop a sense of learning.

o develop a better life for the communityo foster good relationships between the bank & community

o provide learning materials i.e. books, e-learning media etc.

Financial Education for children School-based banking schemeo School banks established since 1998 to promote savings habits

among childreno Model bank operated by students children play

roles of different bank staff; GSB acts as advisorand auditor

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Postal Savings Bank, Philippines

Financial Education for children Educating Youths on Savings

o provide training to teachers on how to work with children on savings.o distribute manuals & handouts on social and financial education (in

co-operation with Aflatoun).o provision of teaching guides on Financial Literacy to all public

elementary schools across the country.

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National Savings Banks, Sri Lanka

Inculcate savings habit among children School-based Bankingo Interactive project where children design their school bank and playroles of bank staff.

o NSB plays an advisory role for teachers & students.

R aise awareness of savings among childreno NSB conducts tailored seminars for children to encourage savings.

National Savings Institute, India

Promotes MOF s tailored savings products for small saverso Focus on people in rural areas.o Disseminate information on concept and role of small savings via TV,

radio, newspapers and other channels.

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y Balancing dual objectivesy Profitability and Sustainability vs. Social Responsibility

y Paradigm shifty Short Term Investment vs. Investment for Future

y Have in place procedures and guidelines

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Involvement and Support of Central Bank and Government

Managing Conflicts of Interest

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y Disclose essential information on financial products andservices to enable comparison.

y Increase product transparency and disclosure whilst

encouraging product innovation and maintaining flexibility.

y Ensure that the financial products and services sold areappropriate to needs and resources of the consumer.

R esponsible Selling Practices

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y Accountability and R esponsibility in the provision of information and advice

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Procedures available in address ing potential conflictsbetween business goals and educating customers

y Fair , transparent and unbiased involvement

WSBI encourages OECD to consider developing guidelinesor recommendations for financial education on savings

Core G uidelines

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THANK YOUTHANK YOU

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2.2 - presentation - adinan maning - 22-03-2010

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