National Financial Inclusion Strategy for Samoa 2017-2020

Paper
Date Published: 
Jan 2017

Four-year strategy for improving access, usage and quality of formal financial services

The National Financial Inclusion Strategy 2017-2020 sets out the overarching approach to drive financial inclusion in Samoa. It is the outcome of a series of consultations with both the private and public sector.

The strategy is guided by the vision for an inclusive financial system: "A sound financial system that best serves all members of society in their pursuit of economic prosperity through a state in which all people, who can use them, have effective access and satisfactory usage of a full suite of financial services from a range of service providers". The strategy aims to achieve the following five overall goals:

  1. 40,000 adults gain improved access to formal financial services, of which at least 50% will be women, and at least 50% will be from rural areas;
  2. 20,000 people, who were previously excluded from the formal financial system, gain access to a formal savings account;
  3. Increase the usage of financial products and services, while ensuring at least 10% activity rate for digital financial services;
  4. Improve the quality of financial services by promoting a wide variety of suitable and affordable financial services for all; and
  5. Provide financial education to all children including differently-abled children, and promote financial literacy among adults.
Type: 
Paper
Topic: 
Policy
Country: 
Samoa