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Facilitating confidential meetings to spur decisions. Repeated links to your personal blog or website as well as referral links may be removed without notice at the moderators' discretion.
While the political economy of reform remains difficult in Tunisia given its recent political transition and ongoing economic challenges, the market facilitation approach has proven to be a cost efficient and effective manner at advancing financial sector innovation.
Voices have been heard and key decisions taken — from developing market inter-operability to creating a legal and Good dating headline examples framework for an agent network in Tunisia — have been agreed upon by the steering committee and published in the final demand-side study.
However, bydiscussions had reached an impasse.
Do not post "I'm not sure if this is true For example, Tunisian mobile network operators were largely engaging with financial sector regulators for the first time, and were surprised to learn that financial integrity and stability issues were more important for regulators Finance speed dating expanding the market for digital financial services.
While quantifying long-term impact of the project is difficult at this stage, CGAP and the World Bank are now working with the Tunisian authorities on designing a technical assistance program to further develop market infrastructure and the supervisory framework to promote digital finance, in concert with the host of market actors.
The data extracted from the demand-side survey ensured discussions were based on empirical facts rather than subjective opinions. Yet despite the compelling evidence that digital financial services offer huge opportunities to expand financial inclusion by reducing costs, improving user experience, and reducing proximity barriers, less than four percent of Tunisians use mobile financial services.
For example, rather than dictate a particular agent banking model, the committee debated how market players could best reach potential segments, in line with findings from the market study which highlighted client behavior and barriers to using digital financial services.
While key market players mobile network operators, microfinance institutions, financial sector regulators agreed that the regulatory framework restrained the development of digital financial services, they disagreed on which sectoral reforms were necessary and lacked a detailed understanding of what the existing regulations permitted.
Cognizant of the existing tensions among stakeholders, the team realized the study itself would be unlikely to lead to market reform.
What does it take to move a market beyond stalemate? That same year, a working group had been set up by the Government, led by the Ministry of Telecommunications, to examine digital finance. To address this, CGAP and the World Bank began with stakeholder consultations and an online workspace to share global best practices, agree on terminology, and reach a common understanding of the various objectives and constraints at stake.
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Because digital finance brings together actors that do not usually work together, the potential for misunderstanding is high. As such, the team used the study as an opportunity to facilitate the market toward a common goal — moving ahead on sectoral reform to develop digital finance in Tunisia.
This exercise allowed the authorities to collect feedback from the private sector in a very efficient way, and to better understand how to secure private sector buy-in for sectoral reforms they were considering.
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It has also allowed a better understanding of the incentives and interests of both public and private actors. Posting guidelines Include sources.
Using a neutral party such as CGAP to facilitate the meetings helped reduce potential conflicts among local stakeholders and increased their trust in the process and in the findings of the study.
It has also proven timely given the political instability in Tunisia — now more than ever development interventions require the trust and understanding of key national actors. We will evaluate if your topic is suitable for the subreddidt and will set a date to avoid conflicts.