Inportance of Financial Inclusion
As part of the agenda of the President of the Republic of Honduras Xiomara Castro, through the Government Plan to Refound Honduras, Financial Inclusion can contribute to the consolidation of Goal 6: “Alternative economic model: economic growth and development, plan for all”. The CNBS’s new strategic focus aims at greater financial inclusion, building on the work done by the supervised system to close existing gaps in the use of and access to financial products and services. Likewise, it contributes to achieving a stable, fair, transparent and competitive financial system through various channels, such as the democratization of credit and greater participation of the population in the financial system, and therefore to the reduction of financial informality.
The CNBS, as a Regulatory Entity and within the scope of its competence, has been carrying out a series of actions aimed at promoting financial inclusion, among which the following stand out:
- The updating of the regulatory framework in terms of transparency, financial education and democratization of credit;
- The issuance and publication of the Annual Financial Inclusion Report and Gender Gap Report;
- The design and implementation of face-to-face and virtual training plans for vulnerable sectors with a gender focus;
- The approval of the Financial Inclusion Capturer through which supervised institutions will report to this Regulatory Body information related to the Financial Inclusion System; and
- The creation of the Financial Education and Inclusion and Gender Management within the organizational structure of this Commission with the mission of overseeing compliance with activities related to the development of financial inclusion and the promotion of financial education, strengthening transparency and market discipline, financial education and culture; as well as taking the pertinent steps in terms of the development of a gender culture.
The CNBS is committed to promoting financial inclusion without neglecting financial stability, and therefore moving towards a country with better comprehensive, inclusive and sustainable economic development, also complying with the Mayan Declaration.