Closing Gaps: Regulatory Frameworks for the Financial Inclusion of Women

CAF -development bank of Latin America- and the Inter-American Commission of Women (CIM) of the OAS are pleased to invite you to this round table that will focus on the importance of addressing the persistent gender gaps in the financial sector, in particular the importance of moving forward with the development public policies and enhancing regulatory frameworks to avoid setbacks in the progress made in women's rights, as well as sharing experiences and practices in terms of policies and regulatory frameworks of the States aimed at promoting greater financial inclusion and economic autonomy of women.

Event date:

March 03, 2022

Women in the American region approach COVID-19 from a position of inequality characterized by two structural realities: the feminization of poverty and the sexual division of labor. Women still have a lower relative rate of participation in employment, a higher incidence of unemployment, greater participation in different forms of job insecurity, lower average income in similar conditions of occupation and education, less access to land and water, property and inheritance, less access to credit as well as to other financial resources and less participation in decision-making spaces and the formulation of policies in the economic sphere. This historic sexual division of labor continues to be the main obstacle, along with gender-based violence, to the full and equal participation of women in all spheres of life.


The result is that women are poorer than men and do not have the same access to social security/pension systems. Moreover, they do not derive the same benefits, including the same autonomy or economic independence as men, from their participation in productive employment. In this context of power asymmetries, COVID-19 has had and will still have profound impact on women's economic rights in the future. For that reason, moving towards strengthening public policies and legal frameworks that address women's economic rights is more imperative than ever, particularly in the financial sector.

Financial capability surveys conducted by CAF show that women have low resilience to negative financial shocks and are more financially vulnerable than men. Likewise, it is pointed out that these gaps can be explained by a lower accumulation of assets by women, their access to more expensive debt products, as well as the weaker position that women have traditionally had in the labor market, which translates into lower income. Besides from the financial sector, it is important to address the issue of education in the use of services and products, access to technologies and the infrastructure for their use in order to have access to digital financial products.

 

Date: Thursday, March 3, 2022

Time: 10:00 a.m. (Colombia) | 11:00 a.m. (Venezuela) | 12:00 p.m. (Argentina)

You will receive the Zoom link before the event.

agenda

10:00 - 10:10 Opening session

  • Alejandra Mora, Executive Secretary, Inter-American Commission of Women (CIM)
  • Carolina España, Executive Vice President, CAF -development bank of Latin America-

 

10:10 - 10:30 Master Conference: Gender gaps in access, use and knowledge of financial products and services

  • Diana Mejía, Senior Specialist in Productive and Financial Development CAF -development bank of Latin America-

 

10:30 - 11:30 Regulatory Measures Panel: Experiences in Latin America

  • Moderator: Ambassador Maria del Carmen Roquebert Leon, Permanent Representative of Panama to the OAS

 

  • Mexicos´experience in the collection of data disaggregated by gender from the possession and use of financial products
    • Socorro Mayec Vargas Arias, General Director of the financial inclusion area, National Banking and Securities Commission of Mexico
  • Role of regulatory entities of the financial sector in the generation of data with a gender perspective
    • Nancy Silva, Director of Studies, Chilean Financial Market Commission
  • Provisions on gender parity in financial institutions
    • Gastón Repetto, Principal Manager of Financial Inclusion, Central Bank of the Argentine Republic
  • Supervision and control of financial sector entities from a gender perspective
    • Margarita Hernández, Superintendent, Superintendence of Popular and Solidarity Economy of Ecuador
  • Guidelines for closing the financial gaps between men and women
    • Marcela Guerrero Campos. Minister and Executive President, National Institute for Women of Costa Rica

 

11:30 – 11:40 Final remarks

  • Beatriz E. Piñeres, Inter-American Commission of Women (CIM/OAS)
  • Ana María Baiardi, Manager of Gender, Diversity and Inclusion, CAF -development bank of Latin America-

panelists

Alejandra Mora

Executive Secretary of the Inter-American Commission of Women (CIM)

Carolina España

Executive Vice President of CAF (E) and CAF Representative in Colombia

Diana Mejía

Senior Specialist in Productive and Financial Development CAF - development bank of Latin America

María del Carmen Roquebert Leon

Permanent Representative of Panama to the OAS

Socorro Mayec Vargas Arias

General Director of the financial inclusion area National Banking and Securities Commission of Mexico

Nancy Silva

Director of Studies Chilean Financial Market Commission

Gastón Repeto

Principal Manager of Financial Inclusion Central Bank of the Argentine Republic

Margarita Hernández Naranjo

Superintendent Superintendency of Popular and Solidarity Economy (SEPS) of Ecuador

Marcela Guerrero Campos

Minister and Executive President National Institute for Women (INAMU) of Costa Rica

Alejandra Mora

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Alejandra Mora

Executive Secretary of the Inter-American Commission of Women (CIM)

Executive Secretary of the Inter-American Commission of Women (CIM) of the Organization of American States (OAS).
Costa Rican jurist, feminist, researcher, academic and politician highly recognized in the international community for her activism for the human rights of women and girls. Since August 16, 2019, she has held the strategic position of Executive Secretary of the Inter-American Commission of Women (CIM) at the OAS. She was Minister of the Status of Women in Costa Rica, President of the National Institute for Women (INAMU) from 2014 to 2018 and Director of the Ombudsman for Women of the Ombudsman of Costa Rica until August 2019. Graduated in Law from the University of Costa Rica in 1989. He completed specialization courses at the University of Lund and Raul Wallemberg in Sweden in 1997. He completed his Master's Degree in Constitutional Law at the Distance State University of Costa Rica in 2004 and his Postgraduate Degree in Human Rights at the University of Chile in Santiago de Chile, in 2007. Author of a book and multiple articles on the human rights of women.

Carolina España

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Carolina España

Executive Vice President of CAF (E) and CAF Representative in Colombia

Carolina España was responsible for financing from international institutions and other multilateral organizations, as well as managing relations with development entities and governments, in order to attract resources for the region. He also worked on the design of the institution's bond issuance strategy, in terms of cost optimization and investor diversification, and was in charge of relations with risk rating agencies and investors, as well as support for activities of the institution in the international capital markets. Spain, with a master's degree in Finance and a Systems Engineering degree from the Metropolitan University of Venezuela, worked as a consultant on treasury management systems for Price Waterhouse, a company in which she participated in several projects for companies in Venezuela such as PDVSA, Mavesa and Corimón. .  

Diana Mejía

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Diana Mejía

Senior Specialist in Productive and Financial Development CAF - development bank of Latin America

He works as a Senior Specialist in Productive and Financial Development at CAF – development bank of Latin America. Prior to this position, she worked at Banco de la República (Central Bank of Colombia), where she was Director of Economic and Financial Education and Director of Institutional Communication, among other positions. He is an Economist and has a Master's in Economics from the Universidad de los Andes in Bogotá, Colombia and a Master's in Public Administration from the Kennedy School of Government at Harvard University. He has worked on various inclusion and financial education projects in Latin America, such as measuring the financial capabilities of the population of several countries in the region, as well as advising national governments on the design and implementation of national inclusion and financial education strategies. Likewise, he has led projects of innovation, productivity and education for work in several Latin American countries. She has authored several publications on the subject.

María del Carmen Roquebert Leon

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María del Carmen Roquebert Leon

Permanent Representative of Panama to the OAS

Current Ambassador, Permanent Representative of Panama to the Organization of American States. Lawyer with more than twenty-five years of experience, graduated from the Faculty of Law and Political Sciences of the University of Panama, Sigma Lambda Honor Chapter. With a scholarship from the Spanish Agency for International Cooperation, she carried out doctoral studies at the Complutense University of Madrid, specializing in Labor and Social Security Law.
He has a Post-Graduate in Mediation from the University of Panama and the International Institute of Negotiation, Mediation and Arbitration; and Specialization in Labor Relations in Europe and Social Dialogue from the Carlos III University of Madrid and the European Institute of Industrial Relations.
Throughout her professional career, she has worked as a university professor at the University of Panama and the Specialized University of the Americas (UDELAS); consultant for civil society organizations; trade union and labor consultant. In addition, she is an eligible arbitrator in the Special Labor Regime of the Panama Canal Authority (ACP).
She has held public positions as Minister of Social Development (MIDES) and Coordinating Minister of the Social Cabinet of the Republic of Panama (2005-2009).
She has extensive experience in managing development cooperation projects with a gender perspective. Likewise, she has specialized training as a moderator to facilitate group discussion processes with the use of participatory methodologies and strategic planning.

Socorro Mayec Vargas Arias

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Socorro Mayec Vargas Arias

General Director of the financial inclusion area National Banking and Securities Commission of Mexico

Degree in Political Science and International Relations from the Center for Economic Research and Teaching (CIDE). With more than 10 years of experience in financial inclusion issues, he was part of the coordination and operation of PATMIR, a pioneer program to promote microfinance in Mexico, within the Banco de Bienestar, as well as the now Ministry of Agriculture and Development. Rural. Likewise, he has been a member of collaborative efforts between academia, civil society and government for local and community development.

Nancy Silva

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Nancy Silva

Director of Studies Chilean Financial Market Commission

Nancy Silva Salas, General Director of Studies, has a PhD in Economics from The London School of Economics and Political Science (England); Master of Arts in Economics from the Université Catholique de Louvian (Belgium), and Mathematical Civil Engineer from the University of Chile.
In 2014, she joined the former Superintendency of Banks and Financial Institutions (current CMF) as Director of Studies, under her direction the studies and gender statistics of the CMF have been developed. Previously, he worked as a senior economist in the Financial Policy Division of the Central Bank of Chile and in various teaching positions at the universities of Chile, Diego Portales, de los Andes and the London School of Economics. He has extensive experience in financial research and has participated as chair of the Financial Stability and Development Conference, guest editor of the Financial Stability Journal and as part of the Scientific Committee of several international conferences. During his career, he has led various research and regulation projects for the industries under the supervision of the current CMF, including the latest amendment to the general banking law, the implementation of the Basel III liquidity and capital regulations, and various projects associated with strengthening the bank resolution process.

Gastón Repeto

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Gastón Repeto

Principal Manager of Financial Inclusion Central Bank of the Argentine Republic

Gastón Repetto is currently serving as the main manager of financial inclusion at the Central Bank of the Argentine Republic. In this institution, he was previously Principal Manager of the General Management and the Deputy General Management of Economic Research.
Bachelor of Economics from the University of Buenos Aires (UBA), Master and PhD candidate in Economics from the University of Illinois at Chicago (UIC). He did postgraduate studies at the Economics Institute, University of Colorado at Boulder.
In the past, he acted as manager of Economic, Commercial and Business Development Studies of the Investment and Foreign Trade Bank (BICE) and Coordinating Manager of the Buenos Aires Sur SE Corporation. He served as a consultant for the Social Capital Fund SA, the National Communications Secretariat and the United Nations Development Program (UNDP). He was an economist of the Undersecretariat of fiscal and economic relations with the provinces of the Ministry of Economy of the Nation.
In the academic field, it was a teacher in different institutions: Alma Mater Studiorum, representation in Buenos Aires of Universita di Bologna, National University of Luján (UNLU) and University of Buenos Aires Ubon and was a visiting teacher of the UIC and the Catholic University of Whose (UCC). He also worked as a graduate researcher and assistant researcher at the UIC and a researcher at UNICEF and UNLu/CONICET.

Margarita Hernández Naranjo

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Margarita Hernández Naranjo

Superintendent Superintendency of Popular and Solidarity Economy (SEPS) of Ecuador

Doctor of Jurisprudence from the Catholic University of Ecuador, she also has an International MBA from the Nürtingen-Geislingen University of Economics and Ecology (HfWU) in Germany, a certification in Leadership and Diversity from the Oxford University Business School in England. and a certification in Coaching by the European University of the Atlantic in Spain.
Throughout her professional career, she has developed vast experience in the field of Control of the National Financial System, holding positions of high responsibility and being recognized for the efficiency and high technical level of her management.
In the academic field, her performance as a university professor in prestigious National Universities stands out; In the same way, he has been a lecturer and speaker at a national and international level, on issues of economic policy, supervision and control of the financial system, development of the economic sector of the popular and solidarity economy, among others.

Marcela Guerrero Campos

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Marcela Guerrero Campos

Minister and Executive President National Institute for Women (INAMU) of Costa Rica

Municipal (IFAM), promoting the Institutional Strategic Plan 2020-2030 aligned with the Sustainable Development Goals from local governments, through Smart Cantons, Climate Change: Territorial Planning Local Economic Development. Human Security.
It is a benchmark and actively participates in national and international forums on issues related to gender, environment, climate change, energy transition, urban mobility, public infrastructure, land use planning, local development, open government and human rights. She has received awards from the International FIA Foundation 2018 and from ASOMOVE, recognizing her leadership as Deputy Promoter of Electric Mobility in Costa Rica in 2019. In 2021 she received international recognition from the Center for Leadership and Innovation of the Americas in the category of Women Leaders of the Americas 2021.
Marcela Guerrero Campos as Minister for the Status of Women and Executive President of the National Institute for Women (INAMU) works together with the staff of the Institution, so that Costa Rica is a leader in the defense of women's human rights, an active defender of equality, inclusion, diversity and the fight against all types of violence. It promotes the economic empowerment of women, care and prevention of violence against women, as well as women's leadership in mitigation, adaptation and risk management in the context of climate change.
Likewise, it aims to make visible the services provided by the INAMU, ensuring the participation and voice of women in all sectors and spaces of national life and that they are the ones who strengthen the institution that protects their rights.