Andina

Peru remains at forefront of international microfinance environment rankings

Juntos transfirió a unidad territorial del programa en Cajamarca, los distritos liberteños de Bolívar, Ucuncha, Longotea y Uchumarca.

Juntos transfirió a unidad territorial del programa en Cajamarca, los distritos liberteños de Bolívar, Ucuncha, Longotea y Uchumarca.

09:40 | Lima, Dec. 08.

For eight years in a row, Peru has stood as the country with best microfinance and financial inclusion environment according to the Economist Intelligence Unit’s (EIU) report named 2015 Global Microscope on Financial Inclusion.

This way, Peru ranks first posting the highest score of 90 out of 100 (three points higher than in 2014), followed by Colombia and the Philippines.

The study assessed 55 developing economies in Latin America, the Caribbean, Asia, Africa, Central Europe and the Middle East.

It highlights the joint effort of public and private sectors to implement initiatives intended to enable the provision of a wider range of formal financial services to the population.

The report also notes the solid regulation and supervision of credit, the increased variety of financial products, customer service channels and payment means supplied by the financial system, the lack of interest rate caps and the progress made on information transparency and protection of financial consumers, among others.

It also outlined the priority the State has placed on development of financial education programs for high school students.

As for the private sector, it underlines the electronic money platform implemented by the financial system, whose launch is planned for late 2015 and is expected to reach low income populations in remote areas.

(END) JJN/JJN/RMB

Published: 12/8/2015