We took our first steps towards this objective in 2009 by encouraging regulated financial institutions to undertake and extend affordable microfinance services. A microfinance policy was subsequently issued to all banks to conduct microfinance activities. I am pleased to say that the banks have taken on these requirements really well and are in compliance in one form or another.
In terms of the affordability of microfinance services and financial services in general, we view technology as one means to address this issue, away from the traditional “bricks and mortar” setups.