Regional Financial Integration Donor Working Group (RFI-DWG)
In line with the operational objectives of MFW4A Secretariat in terms of encouraging the efforts to broaden and deepen financial links within a region and following the donors and Regional Economic Communities (RECs) Workshop on Regional Financial Integration (RFI) organized in Tunis on December 3-4, 2011 ; it was decided to launch Regional Financial Integration (RFI) Donor Working Group to promote Donors and Development Partners efforts in leveraging Regional Financial Integration issues in Africa.
MFW4A Regional Financial Integration Donor Working Group gathers international experts representing various Development Partners over the globe to leverage Regional Financial Integration Development in Africa.
For common understanding, the RFI definition below is endorsed by Group members.
“A regional financial integration project’ refers to a project which support a process, market driven and/or institutionalized, that broadens and deepens financial links within a region. Further deepening of financial links can take the form of harmonizing the part or the whole spectrum of the financial sector, comprising financial policies (legal and regulatory framework, etc.), financial infrastructure (audit systems, accounting and financial procedures, information systems, payments systems, etc.), and financial institutions (banks, non-bank financial institutions, bonds and stock markets, etc.).”
Regional Financial Integration Donor Working Group Objectives
MFW4A RFI Donor Working Group aims to provide a platform for discussing, capturing, tracking and sharing information on innovative Regional Financial products and business models for donor and development Partners’ as well as improving the regulatory and supervisory bodies and creating additional opportunities for learning by doing.
The RFI Donor Working Group’s main purpose is encouraging knowledge and experience sharing between donors to improve implementation of projects that are supportive of sustainable development of Regional Financial services in Africa. It is particularly aimed:
- To organize dialogues among donors about Regional Financial Integration activities throughout the African continent, and to educate and share ideas among the group;
- Promote approaches which balance the risks and opportunities of financial innovations and provide inputs, where appropriate, to relevant African bodies and authorities;
- To advocate for a growing recognition of RFI in regional development strategies;
- Encourage joint donor interventions on RFI issues in Africa, including publications and missions;
- Focus on more technical issues, such as toolkits;
- Raising awareness on potential adverse effects of not only financial regulations but also on telecommunication regulations on national or regional policies of RFI; and
- Create synergies between RFI DWG and all other MFW4A DWG by organizing consultations between Chairs and members of all MFW4A Donors Working Groups.
The Regional Financial Integration Donor Working Group was inaugurated on April 20th, 2010 and includes more than 57 members representing 17 development partners’ institutions.
Chair: Gabriel Mougani (AfDB)
Coordinator: Habib Attia (MFW4A)
Donor's activities on Regional Financial Integration