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Luxembourg and Financial Inclusion at the China Internet Finance Forum 2017

Publié le mercredi 01 novembre 2017

On 28 October 2017, the National Internet Finance Organisation of China ( NIFA ) organised the “China Internet Finance Forum 2017” in Beijing to launch its China Internet Finance Report 2017 and to discuss the contribution of financial technologies (Fintech) to advance Financial Inclusion.

During this one-day forum, several experts hailing from government institutions, from the industry and from multilateral organizations gave presentations on how Fintech has improved financial inclusion worldwide and what are the challenges it still faces.

Mr. Rol Reiland, Deputy Head of the Luxembourg Embassy in China, presented Luxembourg’s initiatives to promote Financial Inclusion in particular in developing countries and highlighted its latest initiatives (such as the Fincluders bootcamp , the Digital Finance Initiative etc.) showcasing the contribution of Fintech to Financial Inclusion.

He explained how Luxembourg is leveraging its experience and know-how as a leading financial center with particular expertise in fund management to be the ideal location to set up Microfinance Investment Vehicles (MIVs) investing into microfinance institutions in developing countries.

With a market share of 61%, Luxembourg is the worldwide leading domicile for MIVs globally.

 

It has also become a Fintech hub in Europe with the presence of major players such as Paypal . FinTech companies benefit from a best-in-class ICT infrastructure, which the Luxembourg government has strategically developed over the past decade.

 

NIFA and the Luxembourg House of Fintech ( LHoFT ) signed an MoU signed earlier this year to further develop the cooperation between Luxembourg and China in Fintech.

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