The CBRC Issued the Implementation Plan on Establishment of Financial Inclusion SBUs in Large and Medium-sized Commercial Banks

 

Recently, the CBRC issued the Implementation Plan on Establishment of Financial Inclusion SBUs in Large and Medium-sized Commercial Banks (the “Implementation Plan”) in order to promote large and medium-sized commercial banks to set up financial inclusion strategic business units (SBUs) which focus on small and micro-sized enterprises (MSEs), agro-relate areas, start-ups and poverty alleviation undertakings.

 

The Implementation Plan specifies the overall objective of the establishment of financial inclusion SBUs in large and medium-sized commercial banks. By setting up management systems that meet the needs of inclusive financial services and developing sound governance mechanism and organizational structure, banks could further improve their professional service system capacity, provide accessible and affordable financing for  (MSEs), agro-relate areas, start-ups and poverty alleviation undertakings, expand coverage and accessibility of financial services, and effectively support the real economy.

 

The Implementation Plan comprises six parts including general requirements, organizational structure, operational mechanism, supervision and administration, supporting policies and implementation, which clarifies the principles of the establishment of financial inclusion SBUs, including commercial operation, line management, specialized management, differentiated development, step-by-step implementation, and policy support. The Implementation Plan requires large and medium-sized commercial banks to establish specialized integrated services, statistical accounting, risk management, resource allocation and assessment mechanisms following the principle of commercial sustainability. Through the establishment of system and mechanism of SBUs, banks’ financial inclusive service capacity will be further enhanced.

 

The Implementation Plan also proposes clear requirements regarding implementation and timetable to ensure effective implementation of relevant work. Large-size commercial banks will complete the establishment of financial inclusion SBUs in 2017 and become backbones of the development of financial inclusion.

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Copyright: China Banking Regulatory Commission
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