Why the central banks and financial regulators of these 44 countries gathered in El Salvador

At this very moment, 32 central banks and 12 financial authorities from 44 countries are meeting in El Salvador from May 16th to May 18th.

And El Salvador passed legislation in 2021 to become the first country in the world to adopt bitcoin as legal tender, making the conference a lot of attention.

According to public information, the reason why these institutions are meeting in El Salvador is that El Salvador is the host of the 2022 annual meeting of the Alliance for Financial Inclusion (AFI). El Salvador joined the Alliance for Financial Inclusion (AFI) in 2012.

Two years after the Covid-19 pandemic, the Alliance for Financial Inclusion (AFI) has reconvened in-person meetings and is currently holding its annual meetings in El Salvador for its Working Group on Digital Financial Services and SME Finance, according to the Alliance for Financial Inclusion (AFI) , which discusses financial inclusion, the digital economy, banking the unbanked, and the benefits of El Salvador being the first country in the world to adopt bitcoin as legal tender last year .

According to the official website of the Alliance for Financial Inclusion (AFI), the vision of the Alliance for Financial Inclusion (AFI) is “to make financial services more accessible to the world’s unbanked.” AFI members are central banks and other financial regulators from more than 90 developing countries, where most of the world’s unbanked people live.

After El Salvador made bitcoin legal tender in 2021, government interest in bitcoin adoption has grown significantly, especially in developing countries with large unbanked populations. On April 25, 2022, the Central African Republic became the second country to adopt Bitcoin as legal tender. The pros and cons of adopting Bitcoin in El Salvador in the past year are undoubtedly the best thinking material for these 44 institutions.

The 44 central banks and financial regulators gathered in El Salvador include:

Central Bank of Sao Tome and Principe, Central Bank of Paraguay, National Bank of Angola, Bank of Ghana, Bank of Namibia, Bank of Uganda, Central Bank of the Republic of Guinea, Central Bank of Madagascar, Bank of the Republic of Haiti, Bank of the Republic of Burundi, Central Bank of Swaziland and its Ministry of Finance, Central Bank of Jordan, Central Bank of Gambia, National Banking and Insurance Commission of Honduras, Directorate General of Customs, Ministry of Finance and Budget of Madagascar, Monetary Authority of Maldives, National Bank of Rwanda, Rural Bank of Nepal, Kenya Tobacco Association Regulatory Authority (SASRA), State Bank of Pakistan, General Supervisory Authority of Financial Entities of Costa Rica, Supervisory Authority of the People’s Economic and Solidarity Association of Ecuador, Central Bank of El Salvador, Central Bank of Egypt, Central Bank of Jordan, Central Bank of Nigeria, Ministry of Economy, Finance and Planning of Senegal, Banking Supervisory Authority of the Dominican Republic, Mauritania Central Bank, Central Bank of Congo, Central Bank of Armenia, Bangladesh Bank, Bank of Mozambique, Bank of Maghreb (Morocco), Bank of Sierra Leone, Bank of Zambia, Central Bank of Lesotho, Central Bank of Liberia, Central Bank of Sudan, Financial Regulatory Commission of Mongolia, Zambia Ministry of Finance, Palestinian Monetary Authority, Reserve Bank of Malawi.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/why-the-central-banks-and-financial-regulators-of-these-44-countries-gathered-in-el-salvador/
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