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Our Approach to Financial Inclusion

Our Approach to Financial Inclusion outlines the steps we are taking to consider and contribute to access to financial products and services in Aotearoa New Zealand.

The Reserve Bank of New Zealand - Te Pūtea Matua

Our Approach to Financial Inclusion
Our Approach to Financial Inclusion

Our Approach to Financial Inclusion outlines the steps we are taking to consider and contribute to access to financial products and services in Aotearoa New Zealand.

Why financial inclusion is an important lens for our work

We are tasked with promoting the prosperity and wellbeing of all New Zealanders and contributing to a sustainable and productive economy.

Globally, and within Aotearoa New Zealand, financial inclusion is increasingly recognised as an important feature of a modern financial system that supports efficiency, prosperity, resilience and wellbeing.

You can learn more about Our Approach to Financial Inclusion on this page.

 

Our working definition of an inclusive financial system is one in which all New Zealanders have reasonable access to financial products and services that meet their needs.

Our Approach to Financial Inclusion

Financial inclusion may be directly or indirectly impacted by a number of areas of our work. As a result, we have released our Approach to Financial Inclusion to set out how we consider and improve access to financial products and services in line with our role and remit.

Our aim is that over time, we grow as an organisation in the way we apply a financial inclusion lens across our work to support reasonable access to financial products and services.

Our Approach to Financial Inclusion progress, ongoing activities and our forward-looking plans are described across 3 key areas.



Our 3 key areas


1. Lay the foundations

What we are doing to define, measure and mature in the way we consider financial inclusion in our work. This includes:

  • defining concepts
  • building capability and awareness
  • improving our evidence base (measurements and reporting).

2. Get the settings in place

What we are doing to incorporate financial inclusion across our functions. This includes:

  • ongoing work streams
  • policy considerations
  • regulatory and operational settings.

3. Show the way

How we are collaborating with public and private stakeholders. This includes:

  • thought leadership
  • collaboration with The Council of Financial Regulators (CoFR)
  • public private engagement
  • iwi and Māori partnerships
  • relationships with regulated entities.

Building an inclusive financial system

We are releasing our Approach to Financial Inclusion in the context of combined efforts across the Central Bank Network for Indigenous Inclusion, recognising that we are one of many stakeholders internationally and domestically contributing to financial inclusion.

We will continue this important work in line with our modernised legislation, our commitments as set out in our Te Tiriti o Waitangi Statement, and in step with public and private stakeholders who also have an important role to play in building a more inclusive financial system.

Read our Approach to Financial Inclusion

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