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Una pol tica para promover el acceso a servicios financieros buscando equidad social ... Propitiate Reforms to the Regulatory Framework ... – PowerPoint PPT presentation

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Title: Presentacin de PowerPoint


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2
A Policy to Promote Access to Financial Services
in Colombia, looking for Social Equity.
Mision
To promote access to financial services for the
population, with special emphasis in low income
families, aiming to stimulate economic
development of the country, looking for social
equity.
Vision
To increase the level of bancarization and
financial institutions outreach to all
municipalities of Colombia, with adequate
products and services for all segments of
population. To be recognized nationally and
internationally, as an effective Government
program that have an impact in the promotion of
access to financial services, contributing to the
alleviation of poverty and the increase of social
equity.
3
Banca de las Oportunidades
  • Created by Decree 3078 of September, 2006
  • Administered by Bancoldex, operates by mandate of
    the Ministry of Finance and Public Credit.
  • Resources
  • Initially COP 120,000 millions, January 2007.
  • Coordination and Monitoring Intersectional
    Commission
  • Adviser Minister
  • Minister of Finance and Public Credit
  • Minister of Commerce, Industry and Tourism
  • Director of National Planning Department (DNP)
  • Director of Dansocial
  • President Representative
  • President of Bancoldex

4
La Banca de las Oportunidades Estrategy
  • Policy that coordinates and potenciates the
    efforts of existent financial intermediaries
    (credit establishments, cooperatives, MFI, NGO,
    Commercial Financial Companies, insurance
    companies, etc)
  • Gives incentives to expand outreach and supply of
    adequate financial services.

YES
  • Bank
  • Second Tier Bank
  • Gives Credit

NO
5
Policy to promote access to financial services
  • Objective
  • Incorporate segments of the population that had
    been unattended by the financial sector
    Bancarize.
  • Deepen access and diversity of instruments to
    attend different segments of the population.
  • Reasons
  • Increasing financial inclusion has a direct
    impact on the economic growth of countries, by
    expanding consumption capacity and increasing the
    investment potential.
  • It has been proven that access to financial
    services has beneficial effects as a strategy to
    fight against poverty.

6
Investment Program Banca de las Oportunidades
Functions
  • Ensure the accomplishment of the objectives of
    the policy of Banca de Las Oportunidades.
  • Design incentives to expand financial outreach to
    all municipalities of Colombia
  • Propose reforms to the regulatory frameworks in
    aspects that limit access.
  • Design incentives to promote access to financial
    services (Supply and Demand).
  • Establish the methodology to assign incentives.
  • Develop and promote financial education programs
    for the supply and demand
  • Offer Technical Assistance programs and
    institutional strengthening to Cooperatives, NGOs
    and others.

7
Factors that limit access to savings
  • From Supply Side
  • High fixed costs to expand outreach.
  • High management costs and cash transportation
  • High operative costs for small amounts captured
  • Regulatory requirements increase the cost of
    products..
  • Lack of knowledge about microsavings
    technologies
  • From Demand Side
  • High commissions for account management and
    transactions.
  • GMF (4 por mil) Tax on Financial Movements that
    make expensive cash use.
  • Difficult and long processes to open accounts.
  • Absence of products that suit their needs
  • Self-exclusion.

8
Factors that limit access to credit
  • From the Supply Side
  • Costs
  • High costs of personalized attention and
    monitoring
  • Information for risk evaluation
  • Lack of knowledge about Microcredit technologies
  • Risks
  • High risk perception for credit to micro and
    small businesses.
  • Difficulty to obtain adequate information to
    estimate repayment capacity.
  • Difficulty to validate guarantees.
  • From the Demand Side
  • Difficulties to meet documentation and guarantees
    requirements.
  • Micro, Small and Medium sized enterprises are
    sensitive to interest rates.
  • Micro entrepreneurs and households value more
    easiness to access than cost.
  • Self-exclusion.

9
Goals
  • There are specific compromises with each group
    in order to achieve the goals on savings, credit,
    and access to financial services in general
  • Financial institutionspresence in ALL
    municipalities of Colombia by 2010.
  • Increase by 3,000,000 the number of savings
    accounts, including 1,500,000 for beneficiaries
    of the Familias en Accion program (Program of
    Conditional Cash Transfer to families in extreme
    poverty).
  • Increase in 5 the Bancarization level in the
    next 4 years, to reach 34.2.
  • 5,000,000 credits to microenterprises.
  • 2,000,000 Banks y CFC
  • 2,750,000 NGO
  • 250,000 Cooperatives
  • 850,000 new associates to Cooperatives.
  • Goal of Credit for the first time
  • -Total Microcredit for the first time 2006-2010
    780.000 credits
  • -Total credits for the first time (including
    Credit for Consumption 1.500.000 credits.

10
Bank Outreach
(June 2006)
307 Municipalities without presence of the
Financial System at the creation of Banca de las
Oportunidades
11
Types of Incentives Support to Banca de las
Oportunidades Network
12
Strategic Blocks
Environment and Regulation to promote access to
financial services
Support to Banca de las Oportunidades Network
Support to Supply and Demand of Financial Services
13
Environment and Regulation to promote access to
financial services
  • Propitiate Reforms to the Regulatory Framework
  • Activities that allow massification of
    microinsurances..
  • Review the regulatory framework for interest
    rates.
  • Support reforms to the guarantee regime
  • Promote necessary reforms for the implementation
    of mobile banking as a mechanism to facilitate
    bancarization.
  • Promote reforms to facilitate the creation and
    consolidation of Risk Capital Fund and Seed
    Capital Funds

14
Support to Banca de las Oportunidades Network
  • Expand geographic outreach of the Network
  • Convocation for Non-Bank Agents (NBA) in
    municipalites without bank presence
  • Expand outreach of NBA in marginal areas of big
    cities
  • Expand outreach of NGO
  • Expand outreach of Cooperatives
  • Expand outreach of CFC.
  • Increase access of low income families
  • Technical Assitance on Village BAnking
  • Technical Assistance for Self- Help Groups
  • Pilot project for incentives for savings to
    Familias en Accion
  • Pilot project of Microinsurances for Familias en
    Acción

15
Support to Supply and Demand of Financial Services
  • Financial Education
  • Promote new schemes of use of the financial
    education methodology of Microfinance
    Opportunities (MO)
  • Promote the utilization of the MO methodology
    among the institutions that received the first
    training
  • Learn about new schemes of financial education
    schemes for the objective population. 
  • New Product Design
  • Promote studies that help to design new
    products and services in the country
  • Technical Support and Services
  • Identify the needs in the supply of financial
    services and design technical assistance schemes
    to attend them.

16
MAIN ACTIVITIES IN 2009
  • Consolidation of Projects, technical assistance
    and coofinanciation developed during 2007 and
    2008, with a special emphasis on the following
    programs

Support to Banca de las Oportunidades Network
Support to Supply and Demand of Financial
Services
  • Technical Assistance of Village Banking
  • Technical Assistance of Self- Help Groups
  • Microinsurance design for Familias en Acción
  • Outreach exoansion of NBA in Marginal areas of
    main cities
  • Technical Assistance fo the implementation of
    Microsavings
  • Mobile Banking Support to Financial Services
  • Financial Education
  • Training for microcredit advisers
  • Design Toolkit with financial institutions
    information
  • Support to MF NGO with entreprise development
    programs
  • Support with guarantees through the FNG to
    massify financial services

17
SIGOB GOALS
18
SIGOB GOALS
19
RESULTS
Main Achievements 2008
  • Decree 086 MHCP Avoid double charge of GMF
    (4x1000) for CNB. En-08
  • Expedition of norms to regulate savings account
    of small amount management, now electronic
    accounts. Dic-08.
  • Approval of Habeas Data Law Information and
    database management. Dic-08.
  • ENVIRONMENT AND REGULATION TO PROMOTE ACCESS TO
    FINANCIAL SERVICES
  • Technical work table with Red Juntos.
  • 500 microentrepreneurs trained through Bogotás
    Chamber of Commerce agreement
  • Contracts NGO trainers, microinsurance marketing
    research, Mobil banking proyect .
  • SUPPORT TO SUPPLY AND DEMAND OF FINANCIAL SERVICES
  • Incentives for extending outreach
  • Among 307 municipalities without financial sistem
    outreach, at the begining of the BdO Program,
    only 68 municipalities would be pending.
  • Technical assistance for strengthening 10
    cooperatives
  • Technical assistance to implement self-help
    groups programs
  • SIGOB goals achievements
  • SUPPORT TO THE NETWORK OF BANCA DE LAS
    OPORTUNIDADES

20
NON BANKING AGENTS NATIONWIDE
TOTAL 4.881 Citibank 3.983 Other Banks
898
Main Results NBA
  • (as of December 31th,2008)
  • Includes 1 NBA that has not yet been reported to
    the Finance Superintendence

21
Main Results NBA
NON BANKING AGENTS BY ENTITY
(as of December 31th,2008) Includes 1 NBA that
has not yet been reported to the Finance
Superintendence
22
Main Results NBA
Source Finance Superintendence of Colombia
Format 398 Data as of December, 2008
23
Main Results NBA
Source Finance Superintendence of Colombia
Format 398 Data as of December, 2008
24
DISBURSEMENTS TO MICROENTERPRISES
Results
3.446.990 CREDITS 10.6 COP TRILLION
  • (as of December 31th,2008)

25
Results
CREDIT TO MICROENTERPRISES THERMOMETER Number of
transactions vs. SIGOB goal (29 months)
NETWORK
MONTHLY GOAL (ACUMULATED)
RESULT
(as of December, 31th 2008)
26
Results
BANCARIZATION RATE OF MICROENTREPRENEURS THAT HAD
ACCESS TO CREDIT FOR THE FIRST TIME
Banks and CFC 332.040 Cooperatives
34.093 NGOs 742.103 TOTAL
1.108.236 Source Asobancaria, Confecoop,
Emprender Preliminar information as of
December, 2008
  • (August 2006 December 2008)

27
Results
BANCARIZATION RATE OF COLOMBIAN POPULATION OLDER
THAN 18
July, 2006 47.06 December, 2006
51.10 March, 2007 51.98 June,
2007 54.04 December, 2007
55.21 March, 2008 55.52 June,
2008 55.49 Source Asobancaria
28
Results
BANCARIZATION RATE OF COLOMBIAN POPULATION
July, 2006 30.17 October, 2007
30.96 March, 2007
33.56 June, 2007
35.06 September, 2007
36.57 December, 2007
37.81 March, 2008
38.02 June, 2008
38,37 Recalculated with data from 2005
census population Source Banca de las
Oportunidades, before March, 2008. Source
Asobancaria
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