Several countries across the globe now look at financial inclusion as the means to more comprehensive growth, wherein each citizen of the country is able to use earnings as a financial resource that can be put to work to improve future financial status and adding to the nation’s progress. Initiatives for financial inclusion have come from financial regulators, governments and the banking industry.
The King IV report also includes features which, although not specifically covered in our own corporate governance regulations because they fall outside the ambit of prudential concerns, are nevertheless relevant for financial institutions as well as non financial corporations; these include the importance of corporations establishing responsible and transparent tax policies and organisation wide remuneration policies.