Bank Derisking and its Impact on Nonprofits

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Vijaya Ramachandran, Senior Fellow, Center for Global Development and co-author, “Unintended Consequences of Anti-Money Laundering Policies for Poor Countries”

Tracey Durner, Analyst, Global Center on Cooperative Security and co-author,“Understanding Bank Derisking and its Effects on Financial Inclusion”

Liat Shetret, Senior Fellow, Global Center on Cooperative Security and co-author, “Understanding Bank De-rising and its Effects on Financial Inclusion”

Scott Paul, Senior Humanitarian Policy Advisor, Oxfam America

Moderated by Kay Guinane, Director, Charity & Security Network

Report authors Vijaya Ramachandran and Tracey Durner discussed their respective reports on bank derisking in a webinar, with commentary from Scott Paul of Oxfam America, who will focus on the impact on the nonprofit sector.

The Center for Global Development report concludes that efforts to curb money laundering and illicit terrorist financing have had unintended consequences internationally, in particular for people and organizations in poor countries via remittances, correspondent banking and humanitarian aid.

The Global Center on Cooperative Security report found that bank derisking represents a market failure and that  in clear instances of market failure, either government or the public sector must intervene to re-align market factors, either through incentive programs or through enhanced regulatory guidance.

Both reports can be downloaded by following the links above.

Event Date:
Thursday, January 7, 2016