Country Profile

Is there an AML/CFT regime?

Is there a national ID system?

% Individuals Covered By ID System

Was there a FATF risk assessment?

If yes, which type?

Date of latest risk assessment

Is there an MOU for collaboration regarding risk assessments?

Is there simplified KYC for low-risk products?

If yes, what specifically is simplified?

Has there been a Mutual Evaluation of the proportionate regulation?

If yes, what was the result?

Which products qualify for simplified KYC?

Has the adoption of FATF AML/CFT Recommendations negatively impacted financial inclusion in your country?

What are the impacts?

Is tiered KYC adopted in your country to mitigate the impact of global standards on financial inclusion?

Is acceptance of alternative documents for KYC adopted in your country?

Is usage of technology/ innovation to meet KYC requirements adopted in your country?

Is the sharing of information between KYC databases to reduce redundancy adopted in your country?

Are there other proportionate approaches adopted in your country to mitigate the impact of FATF AML/CFT?

How have assessors assessed these other approaches?

What are the key challenges faced in implementing the FATF AML/CFT?

What is the status of adoption for Basel I Framework in your country?

What is the status of adoption for Basel II Framework in your country?

What is the status of adoption for Basel III Framework in your country?

Has the adoption of the Basel Framework negatively impacted financial inclusion?

What are the impacts of the negative adoption of the Basel Framework?

Is tiered implementation of Basel pillars proportionate to sector characteristics?

How the definition of new credit categories adopted in your country?

How is the use of Internal Ratings-Based (IRB) approach assessed?

Are there other proportionate approaches adopted in your country to mitigate the impact of Basel framework on financial inclusion?

How have assessors assessed these other approaches?

What are the key challenges faced in implementing the Basel Framework in a proportionate manner?

Does your country define shadow banking?

Is your country’s definition of “Shadow Banking” the same as the Financial Stability Board (FSB)’s definition?

Which institutions constitute the shadow banking system in your country?

What is the current approximate size of the perceived shadow banking system?

What are the measures used to monitor developments in the shadow banking sector?

Does your country have a deposit insurance scheme?

Does your country implement the International Association of Deposit Insurers (IADI) Core Principles?

How does the deposit insurance framework in your country treat digital deposit-like stored value products?

How do you think the risks of shadow banking activities can be mitigated?

How do you view the impact of shadow banking on your economy?

Is there an MSME Development act / law / regulation?

Is there an MSME Development masterplan / National blueprint / Framework?

Is there an agency or coordinating body tasked to promote MSME sector development?

Is there an agency or coordinating body tasked to consolidate MSME data, including demographics, economic and financial indicators of MSMEs?

Is there an agency or coordinating body tasked to promote MSME access to finance?

Is there an agency or coordinating body tasked to coordinate assistance from ministries and agencies to assist MSMEs?

Is there an agency or coordinating body tasked to provide financial and non-financial assistance to MSMEs?

Is there an agency or coordinating body tasked to develop policies for MSME development?

Is there an agency or coordinating body tasked to develop and prescribe a national MSME definition?

Does your country have an MSME definition framework?

How is/are the MSME definition(s) applied?

Is there a single MSME definition framework adopted across all government agencies?

Does the single MSME definition framework have a legal basis?

Which parameters are used to define Micro enterprises?

Which parameters are used to define Small enterprises?

Which parameters are used to define Medium enterprises?

Are there two or more agency-defined MSME definition frameworks?

Which agencies use their own MSME definition?

Do the agencies that use their own MSME definition framework have a legal or policy basis?

Which agency can legalize or issue an MSME definition policy in your country?

What were the primary considerations when designing the MSME definition framework?

Is there specific regulation on financial consumer protection...?

…or is the general consumer protection regime applicable?

Do they apply to all financial service providers?

Which types of institutions are covered?

Is there an institution in charge of consumer complaints?

If yes, with regards to which types of institutions?

Is there an institution in charge of enforcing financial consumer protection?

If yes, with regards to which types of institutions?

Have there been sanctions for non-compliance with financial consumer protection?

If yes, for which type of institutions?

Are there published reports on complaints and enforcement action?

If yes, for which types of institutions?

Do regulations determine minimal standards for written contracts?

If yes, for which types of institutions?

Is there price transparency regulation?

If yes, with regards to which institution?

Is the regulator involved in consumer education?

If yes, with regards to which institution?

Was the AFI Core Set published?

Were additional indicators to AFI Core Set published?

If yes, which types of indicators:

Was a demand-side survey conducted?

If yes, how was it used?

Was GPS data collected?

Are there national measurable targets?

Is financial inclusion data reported to the Board?

Does your institution collect sex-disaggregated data?

Regulator has mandate for the entire payment system?

Are there regulations ONLY for mobile channel?

Does country allow e-money?

Is there interoperability between accounts via mobile?

Are agents allowed?

Is there a level playing field for bank and non-bank agents?

Who can become an agent?

Are super agents allowed?

Is agent exclusivity allowed?

Is remote account opening allowed?

Customer complaints in digital financial services

Policy on Interoperability of DFS

Is there an official definition of financial inclusion?

Which institution leads financial inclusion?

Does the regulator have a financial inclusion mandate?

Is there a financial inclusion taskforce/council?

Is there a financial inclusion strategy?

If yes, which topics are included?

Has there been a diagnostic study for the financial inclusion strategy?

Does your country have a national level strategy concerning green or sustainable finance?

Is your institution addressing climate change in its strategic goals?

Does your country have a green finance taxonomy?

Does your country has any initiatives on green bonds/green taxonomy related to SMEs sector

Does the central bank or financial regulator of your country collect and/or disseminate data/statistics relating to climate change or green finance?

Does your country have a gender sensitive framework for collecting climate-related data?

Has your institution enacted FinTech-related regulations to encourage FinTech investment/involvement into green projects in any of the following sectors?

Has your institution enacted regulation to enable mobile payment platforms to provide adaptation and resilience mechanisms

Has your institution enacted regulation to enable FinTech to provide climate change mitigation solutions

Has your institution implemented or led the implementation of any climate-related risk insurance?

Are there any credit guarantee schemes that support lending for “green” or “sustainable” economic activities offered in your country?

Does the financial sector follow any Environmental Social Governance (ESG) Standards in your country?

Does your institution issue any Environmental Social Governance (ESG) Standards?

Has your institution issued Environmental and Social Risk Management (ESRM) Guidelines?

In the response to the economic crisis following the global COVID-19 pandemic, has your institution considered any green elements in the response policies?

Has your institution updated regulations or came up with interim policies to promote digital financial services during the COVID-19 crisis?

Is there a Disaster/Crisis Management structure or department or any other coordinating structure that would take up disaster recovery and reconstruction topics in the event of severe catastrophic environmental events (such as cyclones, floods, fire) in y

Has your institution issued any policy related to disaster risk reduction?

What are the existing or planned inclusive green finance initiatives your institution is currently working on?

Do you have a policy (or vision document) that supports or promotes interoperability of digital financial services (DFS) in your jurisdiction?

Has the DFS interoperability policy / vision document indicated above been adopted by the Board / senior management of your institution?

Please indicate the key elements/areas of the DFS interoperability policy / vision document in your jurisdiction.

Is the DFS interoperability policy/vision document backed by a regulatory framework?

How would you qualify the type of DFS interoperability in your jurisdiction?

Do you have in place mechanisms for clearing and settlement of financial transactions from the interoperable payment platform within your jurisdiction?

What are the provisions for safeguarding against loss of consumer funds in the interoperable payment platform?

Does your jurisdiction have in place rules / measures to reduce the risk of insolvency of financial service providers?

Does the legal (or regulatory) framework in your jurisdiction have provisions for a unique identification of consumer of financial services?

Do your regulations (or rules governing payment systems) allow for the implementation of tiered KYC? (for example, ID requirements are proportional to the nature and the amount of transaction?)

Which of the following do your existing regulations have provisions /mechanisms that allow for proper mitigation?

Which of the following international standards do the operating rules governing interoperable payment systems in your jurisdiction take into consideration?

Are eligibility criteria for participants to the payment system (or interoperable platform) readily available?

Please indicate the type of entity allowed to participate in interoperable payment platforms in your jurisdiction?

Does the legal framework in your jurisdiction prohibit monopolistic practices?

What are the main provisions on competition and monopolistic position?

Does the legal framework provide mechanisms for handling complaints and disputes between payment services providers and consumers?

Are there provisions for data protection (privacy and data security)?

Are there provisions on pricing and conditions for offering financial services to users?

Is the pricing regulated by the state or by the Central Bank?

Who operates the interoperable platform?

Does the interoperable system support the following services?

Is the payment platform in your jurisdiction connected with (or can be connected to) other infrastructure for cross-border payments?

Does the system have a business continuity plan?

Does your system comply with international standards?

Which international standards does the system complies?

Please indicate the different channels supported by the interoperability platform?

Does the platform have an economic model that promotes the sustainability and costs reduction for consumers accessibility?

Have you adopted either inter-exchange fees or surcharge fees, or both?

Which of the following best describe the DFS interoperability reality / practice or project in your jurisdiction?

How many interoperable systems do you have in your jurisdiction?

What was the approach taken for the involvement of stakeholders and the consideration of market needs?

Is there a data collection system that can be used to assess the dynamics and needs of the market?

What are the payment options offered by your platform?

Do you have a policy for digitizing government payments?

Do you have a financial literacy program for consumers?

Which institution takes the lead in developing and implementing the financial literacy program?

Is there a collaboration / partnership mechanism between the stakeholders in implementing the financial literacy program?

Does the financial literacy program have a focus on digital financial services?

Indicate where there are cooperation/ collaboration mechanisms between the financial regulator (central bank) and other regulatory bodies in your jurisdiction?

Indicate where (if any) there are public-private dialogue (or collaboration) mechanism in your jurisdiction on DFS interoperability related issues

What forms of cooperation are there among market players in your jurisdiction on DFS interoperability?

Has your country put in place policies / guidelines that foster innovations in the payment ecosystem?