SEATTLE (AP) _ A coalition of nearly 100 bankers and government officials is launching a new enterprise to provide financial services to the millions of people in the world who do not have easy access to banks.
The Alliance for Financial Inclusion is gathered in Nairobi, Kenya, this week for a three-day meeting. They plan to share ideas for bringing savings accounts, insurance and other financial services to people living on less than $2 a day. The ideas include transferring money by way of mobile phones and setting up banking kiosks in markets and post offices.
The Seattle-based Bill & Melinda Gates Foundation is supporting the alliance with a $35 million grant.