Financial Services Sector
This event launched the Bangkok Blueprint, a high-level framework for tackling cyber-enabled fraud through a whole-of-ecosystem approach. The World Bank Group and the IMF, in partnership with the Bank of Thailand, has developed 12 Key Considerations to guide policy alignment, global dialogue, and future action.
INVESTING IN FINANCIAL SECTOR DEVELOPMENT
Sound financial systems underpin economic growth and are crucial to the World Bank Group’s mission of eradicating poverty. Deep, liquid capital markets fund the investment required to support economic expansion, jobs, human capital, and infrastructure.
1.3 billion people around the world still lack access to financial accounts, despite rapid advances in digital financial services and mobile phone banking.
Financial stability gives people the confidence to save and invest money, and allows robust banking systems and capital markets to support productivity by efficiently channeling funds toward their most productive uses and quickly move payments securely domestically and across borders. A healthy financial system helps governments raise capital and maintain social safety nets.
Good access to finance enables people to thrive and better manage their family’s needs for food, shelter, healthcare, and education. It allows them to manage risks and start businesses.
The World Bank Group promotes financial stability by working with national regulators, supervisors, and lawmakers to set the rules for efficient and stable financial institutions, to monitor them for compliance, and to protect them from spillovers from global financial instability. We partner with the G-20, Financial Stability Board and other standard-setting bodies, and the United Nations in the formulation of global standards and in helping developing countries comply with them. We also offer technical assistance in the area of Anti-Money Laundering and Combatting the Financing of Terrorism.
With the IMF, we have developed joint diagnostics - the Financial Sector Assessment Program and Reports on the Observance of Standards and Codes - to monitor compliance with best practices in building well-functioning financial systems.
We work with governments and financial institutions to create the conditions for sustainable lending to entrepreneurs and small and medium-sized companies.
BY THE NUMBERS: FINANCIAL SECTOR
RESEARCH & PUBLICATIONS
THE LATEST IN FINANCIAL SECTOR DEVELOPMENT
Explore key World Bank resources showcasing our work in the financial sector.
PROGRAMS & PROJECTS IN FINANCIAL SECTOR DEVELOPMENT
Finance for Development Umbrella Program
The World Bank’s donor financing, partnership, and knowledge platform aims to improve the capacity of low- and middle-income countries to develop deep, inclusive, efficient, and resilient financial systems. Amid multiple overlapping crises, a well-functioning financial sector is the core foundation and a prime enabler of private-led, inclusive, and green economic growth.
Financial Sector Assessment Program (FSAP)
Jointly launched by the World Bank and the International Monetary Fund (IMF) in 1999, FSAPs helps countries identify and address financial system risks and development challenges—laying the groundwork for sustainable growth, financial resilience, and shared prosperity.
Financial Sector Advisory Program (FSAC)
Providing independent, confidential, and tailored expertise, technical advice, and implementation support to countries in Europe and Central Asia on financial stability topics.
Leadership
Media Contact
Paul Clare
pclare@worldbankgroup.org