Peru: National Financial Inclusion Policy

In order to improve the limited access to and use of financial services in the country, the Peruvian government presented the National Financial Inclusion Policy (PNIF) approved by Supreme Decree Nº 255-2019-EF.. This initiative seeks to promote and facilitate financial inclusion through coordinated actions between public and private sector entities. Currently, a significant part of the population still faces restrictions in accessing quality financial services, which hinders the country's economic and financial development and negatively affects the welfare of its citizens, unlike other nations in the region. The implementation of the NFIP is structured around five priority objectives and sixteen policy guidelines. The main objectives are: - OP1. Build the confidence of all population groups in the financial system. - OP2. To guarantee an adequate and sufficient supply of financial services that respond to the needs of the population. - OP3. Reduce barriers that hinder the efficient functioning of the market. - OP4. Expand telecommunications infrastructure and digital platforms to improve access to financial services. - OP5. Strengthen inter-institutional coordination mechanisms. It is important to note that the formulation of the PNIF was based on the National Financial Inclusion Strategy (ENIF).