Within the framework of ITU's the Standardization Sector, NTRA participated in the 2nd meeting of Focus Group Digital Financial Services (FG DFS) that will be held during the period from 20 to April 22, 2015, in Washington DC, USA.
The Focus Group analyzes ICT solutions and the business models and platforms that increase financial inclusion. In addition, it identifies the best practices and standards that will facilitate access to technology solutions concerning the interoperable digital financial services at the global level.
It has turned out that no more than 2.5 billion persons, mostly from developing countries, can manage to obtain official bank accounts. The low levels of financial inclusion represent a huge social constraint that hinders economic development in developing countries. It is worth mentioning that the digital financial services represent a modifying factor in this scope for low-income people as these services might facilitate their financial inclusion in developing countries.