Banks need to understand the market and develop products suited to the clientele. They need to develop data sets to evolve risk assessment models for proper rating and pricing. Financial inclusion has to be viewed as a business strategy for growth and banks need to position themselves accordingly.
Trinidad and Tobago is another such champion, over the last two years, we have been actively championing the case for small states in the halls of international financial community. We are now seeing a new awakening and awareness of this issue from global policymakers, especially at the IMF and the G-20 Presidency.