Page 27 - ITU-T Focus Group Digital Financial Services – Interoperability

ITU-T Focus Group Digital Financial Services
Interoperability

Figure 1: Cooperative mechanisms for payments worldwide

Source: Global Payment Systems Survey 2012, The World Bank.
In some countries cooperation fora that to a certain extent resemble a NPS have been created without direct
participation of the central bank or other authorities. These bodies may operate as a company with specific
operational functions rather than as advisory/consultative body for public policy purposes.

6.1 Public sector-led

Some typical fora with central bank leadership include:

• Consultation workshops: workshops can be organized in the early formulation stages of the reform effort
to present the initiative to all public and private stakeholders, collect inputs and contributions from them,
and seek their broad sign-off on the proposed strategy prior to launch.
• Periodic events: more formal events can be organized allow different stakeholders to update each other
and advance agendas in unison. For instance, some central banks have launched a Financial Sector Forum
as a coordination mechanism for relevant financial sector regulators to convene yearly.
Other relevant fora include bodies that have been created in the specific context of financial inclusion. This
can serve as a forum for specialized topics of payment system development.
In Mexico, for example, the National Council for Financial Inclusion is a forum for coordination and consultation
among government entities whose purpose is to plan, formulate, implement, execute and follow-up on a
National Financial Inclusion Policy.
Tanzania has a developed a structure that resembles a NPC, although for the specific purpose of advancing
its NFIS. To that effect, three levels of committees comprising members from government ministries, heads
of regulatory authorities and agencies and private financial institutions associations have been formed. This
structure is illustrated in Figure 2.

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