Queen Máxima speaks at launch of Mexico's national policy plan for inclusive finance
On Tuesday 21 June Her Majesty Queen Máxima, as the UN Secretary-General's Special Advocate for Inclusive Finance for Development, is speaking at the National Palace in Mexico City to mark the launch of Mexico's national policy plan for inclusive finance. Mexican President Enrique Peña Nieto is also attending. The plan will guide Mexico's efforts to improve access to financial services.
In recent years, Mexico's Secretariat of Finance and Public Credit (SHCP), its National Banking and Securities Commission (CNBV), the Bank of Mexico and other partners have developed this national strategy to promote secure and affordable access to financial services. These include current and savings accounts, loans, insurance schemes and pensions. Increased access can benefit Mexico's economic development.
According to the UN only 44% of the adults in Mexico – more than 33 million people – have a bank account. Many people receive their income and make payments using cash, which is time-consuming and often unsafe. The same is true for saving: only 15% of Mexicans have a savings account. Of those with a current or savings account, 9.5% use online banking.
In her speech, Queen Máxima will discuss the opportunities and challenges linked to the national policy plan's implementation. She will highlight the importance of providing more banking facilities and branches to make financial services physically more accessible, as well as opportunities for finance to help SMEs grow.
Following her speech, Queen Máxima will meet with Mr Peña Nieto as well as finance secretary Luis Videgaray Caro and Bank of Mexico governor Agustín Carstens. She will then attend a panel discussion moderated by CNBV president Jaime González Aguadé with representatives of the finance and technology sectors on how technology can improve access to financial services.
Queen Máxima visited Mexico previously in 2009, 2011 and 2012 in her UN advocacy role. In recent years she has also spoken with the Mexican authorities at various international events on how the national strategy for inclusive finance is progressing.
Her Majesty was appointed UN Secretary-General Bank Ki-moon's Special Advocate for Inclusive Finance for Development in September 2009. She advises the Secretary-General on access to financial services and works worldwide to make these services available to everyone. This particularly helps low-income groups and SMEs. Since July 2011 Queen Máxima has been Honorary Patron of the G20 Global Partnership for Financial Inclusion (GPFI).