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Why financial inclusion matters

Posted by admin 15 December 2010 : Runnymede , racism , financial inclusion ,

Today I presented at the UN Forum on Minority Issues, organised by the Office of the High Commissioner for Human Rights. My presentation was titled 'Financial Inclusion, Ethnicity and Policy Action', and was based on Runnymede's ongoing financial inclusion programme
I explained why financial inclusion is crucial for the participation of ethnic minorities in social and economic life, but also why we need a more expansive conception of financial inclusion to make ethnic minority participation a reality. Financial institutions are unlikely to offer products or set up offices in low-income areas, either in urban Europe or rural Asia or Africa, as the potential customers in these areas are either very risky or offer little opportunity for significant financial returns. I received positive feedback on my speech, including from the official 'Independent Expert on Minority Issues', Ms Gay McDougall.
My speech followed that of a professor at the Federal Univeristy of Rio de Janeiro, a Tanzanian member of the UN Committee on the Elimination of Racial Discrimination (CERD), and a Romanian member of the UN Committee on the Elimination of Discrimination against Women (CEDAW)
There are a large number of civil society organisations present here in Geneva, and they have the opportunity to press their cases in this important forum. Quite a few official delegations have either made statements in support of minority issues (including Hungary, Brazil, Russia and South Africa), a few have responded directly to interventions from civil society in their countries, while others have responded to each other on specific points.
While the forum provides an important space for civil society to challenge governments on their treatment of minorities, it is important that the recommendations that have been drafted are fully implemented to make the equal treatment of minorities a reality. Many of the proposals, including more use of positive action, could potentially benefit ethnic minorities in the UK.

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The blog is often written by Runnymede's public affairs manager Vicki Butler, and also by other members of the Runnymede staff team or external contributors, where stated.

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