This was an official virtual side-event of the 4th International Conference on Financing for Development.

This executive panel explored adapting supervisory and regulatory frameworks to keep pace with rapid technological change, and the role of central banks and supervisors in accelerating the Sustainable Development Agenda. The conversation highlighted the urgent need for coordinated global approaches and how combatting financial crime and the illicit flow of finances, as well as responsibly leveraging AI, is foundational for a stable digital financial ecosystem. The panelists discussed lessons learned from Kenya’s adoption of mobile money.

Key themes include:

• Building supervisory capacity to respond to fintech and AI innovation
• Cyber resilience and combating financial crime as a prerequisite for achieving sustainable development
• Strengthening the financial sector’s role in supporting climate and sustainability goals
• The importance of collaboration between consumers, industry, and financial regulators and supervisors

Opening Remarks:

Deputy Ian Gorst, Minister for External Relations, Government of Jersey

Panelists:

Socorro Heysen, Board Member, Toronto Centre; Former Superintendent, Banks, Insurance, and Pension Fund Administrators, Peru

Hunter Sims, Associate Director of Business & Operations, Cambridge Centre for Alternative Finance

Tamara Cook, CEO, Financial Sector Deepening Kenya

Olaf Weber, Professor & CIBC Chair in Sustainable Finance, Schulich School of Business

Moderator:

Babak Abbaszadeh, President and CEO, Toronto Centre

Read the transcript here. Read their biographies here.

Watch the executive panel here.