Financial technology (fintech) is advancing rapidly in emerging markets and Morocco is no exception: the country has embraced its efficiency and low costs as a way to bolster financial inclusion and catalyse innovation across various sectors, with both the government and private firms deploying fintech tools for payments.
As companies look to shift towards more environmentally sustainable modes of operation, transition bonds are increasingly being seen as a key financial tool for those operating in fossil fuel or heavy-polluting sectors.
One outcome of the coronavirus pandemic has been a massive acceleration of the digital transformation process. Nowhere is this more evident than in the finance industry, where Covid-19 prompted a complete overhaul of legacy processing systems and the widespread implementation of what are known as ABCD technologies – a catch-all term that encompasses artificial intelligence (AI) and automation, blockchain and bitcoin, cloud computing, and digital and data-driven solutions.
Demand for Bitcoin has been surging globally since the beginning of the coronavirus pandemic, with interest reaching a fever pitch early this year. While it is not without its potential pitfalls, emerging economies are increasingly looking to cryptocurrencies as a way to drive their recoveries from the economic fallout of the virus.
Interviews & Viewpoints | Benjamin E Diokno, Governor, Bangko Sentral ng Pilipinas (BSP): Interview from The Report: Philippines 2021
What is your assessment of the BSP’s ability to mitigate the economic challenges brought about by the pandemic and facilitate recovery?