The Secretariat of Finance ratified the National Financial Inclusion Strategy

The objective of the National Financial Inclusion Strategy (the “Strategy”) is to promote the responsible and sustainable access and use of financial services in the Argentine territory to contribute to the social development and economic growth of the country and to reduce the economic vulnerability of individuals and businesses through financial inclusion.

The guidelines established by the Strategy are: (i) the offer of financial services must be comprehensive, that is, focused on credit, savings, insurance and digital payments; (ii) the financial products offered must be practical and appropriate for them to be used; (iii) the supply of financial services must be sustainable, that is, it must not depend on public assistance, but based on sustainable models; (iv) the offer must also be responsible, that is, the terms and conditions of the financial products must be communicated with total clarity and transparency to the users.

Therefore, the Strategy proposes three strategic objectives, as well as general measures necessary to achieve them: (i) complete and improve access to savings accounts, credit, electronic payment means, and insurance; (ii) enhance the use of accounts, electronic means of payment, and other financial services, as a gateway to the financial system; (iii) improve the financial capacities of the population and user protection.

Along the same lines, the Financial Inclusion Coordination Council (the “Council”) prioritizes seven public policy areas: (i) complementary financial services agencies (bank correspondents); (ii) credit information; (iii) alternative information; (iv) electronic means of payment; (v) access to credit; (vi) financial education; and (vii) financial consumer protection.

Hence, the Strategy serves as a guide for directing and unifying financial inclusion measures from now on. In addition, it adds as a cross-cutting objective to maintain a gender perspective and ensure the financial inclusion of specific groups with greater risks of exclusion.