Leadership of SARFII transferred to NRB; Gov Adhikari assumes as chairman

KATHMANDU: The leadership of the South Asia Region Financial Inclusion Initiative (SARFII) has been transferred to Nepal Rastra Bank (NRB). With this, Governor Maha Prasad Adhikari has been elected as the Chairman of SARFII on behalf of NRB.

The Alliance for Financial Inclusion (AFI) - Global Policy Forum is currently being held from September 2, 2024, in San Salvador, the capital of El Salvador. During the 5th SARFII Leaders Roundtable held today as part of this forum, the chairmanship of SARFII was officially transferred to NRB. Governor Adhikari participated virtually and presided over the meeting.

The meeting also elected the State Bank of Pakistan (SBP) as the Vice Chairman of SARFII. Previously, SARFII was headed by the Maldives Monetary Authority, with Governor Adhikari serving as the Vice Chairman on behalf of NRB.

Launched at the 12th AFI Global Policy Forum (GPF) in Jordan in September 2022, SARFII aims to build on the significant progress made by South Asian member institutions over the past decade. It acts as a catalyst to accelerate financial inclusion, improve lives and make financial security and inclusion a reality across South Asia.

The central banks of Bangladesh, Bhutan, the Maldives, Pakistan, and Sri Lanka, along with NRB, are affiliated with this network. SARFII was established with the objectives of regional knowledge sharing, capacity building, joint learning exercises, implementation of technical assistance, and the promotion of financial inclusion following global and regional best practices.