For this reason, the RBF has become more involved rather than just playing a promotional role. To express our commitment, we established a new Department at the Bank called the Financial Systems Development and Compliance Group. Amongst other responsibilities, the Group will drive the development of microfinance and other financial inclusion initiatives to reach the poor and vulnerable in society.
For central banks, these measures have entailed lowering policy interest rates and opening or expanding liquidity facilities to banks and others to augment the credit that private parties are unable or unwilling to extend to each other.