Queen Máxima to promote financial health at Global Banking Summit
Her Majesty Queen Máxima, the United Nations Secretary-General’s Special Advocate for Financial Health (UNSGSA), will attend the Financial Times’ 2024 Global Banking Summit in London on Tuesday 3 and Wednesday 4 December. She will also meet with representatives of the UK public and private sectors to discuss the importance of financial health in financial services.
At the summit, on the morning of 3 December, the Queen will have a keynote interview with Silvia Pavoni, editor-in-chief of the monthly publication The Banker, on the topic of ‘Rethinking banking – banking through the lens of consumer financial health’. In the interview the Queen will set out her vision on financial health. Queen Máxima’s efforts over the past 15 years to promote financial inclusion have paid off: today, more than 76% of adults worldwide have access to a current account (Global Findex 2021). This makes it easier for them to receive and transfer money, and brings other financial services such as savings accounts, insurance policies and affordable loans within reach. Better access does not by definition strengthen people’s financial resilience or increase opportunities for economic development, however. This depends in large part on the quality of financial services.
On behalf of the UN, Queen Máxima is working to promote financial health by advocating innovative financial products, services and policies that can help people manage their daily income and spending, so that they can invest responsibly in a company or save for their long-term goals. The products can also help people protect themselves from risks and increase their confidence in their financial future.
Besides the financial sector, governments also play a key role in promoting financial health. The Queen will raise this issue with Nikhil Rathi, Chief Executive of the Financial Conduct Authority which regulates the financial services industry in the United Kingdom.
Queen Máxima will also participate in two roundtable discussions. The first, ‘Unlocking Affordable Credit Access in the UK’ hosted by Fair4all Finance, will focus on responsible lending to people in financially vulnerable circumstances. Loans enable them to invest in long-term goals such as further education or a business. Affordable short-term credit can help people fulfil their financial obligations.
The second discussion, ‘Innovations in Workplace Emergency Savings Initiatives’ hosted by Blackrock, will focus on ways that employers can help workers set aside money for a rainy day, promoting their financial resilience.
Queen Máxima promotes financial health in the Netherlands on behalf of Stichting SchuldenlabNL, the National Financial Health Coalition and the Money Wise Platform.
Government Information Service, no. 331