Rwanda

In 2011, Rwanda only had 33% of adult population that had an account at a formal financial institution. The National Bank of Rwanda (BNR) committed to the Maya Declaration in 2011 focusing on policy areas of adopting a national strategy and financial literacy, and strengthening data and measurement in order to monitor progress. The BNR specifically committed to improve the percentage of population with access to financial services to 80% by 2017 from 21% in 2008, and to monitor the progress by developing a set of financial inclusion indicators based on the AFI Core Set of Financial Indicators. According to Finscope 2012 findings, financial exclusion rates in Rwanda dropped from 52% in 2008 to 28% in 2012. At the same time, formal financial inclusion increased from 21% in 2008 to 42% in 2012. BNR established a national financial inclusion task force to coordinate financial inclusion activities, and a separate task force for financial education will be established to implement the financial inclusion strategy.

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Source: The 2013 Maya Declaration Progress Report