Pakistan to chair MEFIN
The Securities and Exchange Commission Pakistan SECP will chair for 2017 the Mutual exchange Forum on inclusive insurance Network MEFIN. MEFIN is an Asian network of insurance policy makers and regulators from Indonesia, Pakistan, Philippines, Vietnam, Nepal and Mongolia. The network serves as a platform for peer to peer learning among policy makers and insurance regulators in the region in advancing inclusive insurance solutions. The second MEFIN public Private Dialogue (PPD) was held in Hanoi Vietnam together with Munich Re Foundation and Micro insurance Network.
The Mutual Exchange Forum on inclusive insurance Network or MEFN Network is a collegial body of insurance policy makers and regulators in Asia. It was formed in 16 May 2013 in Cebu Philippines where Financial Inclusion Policy makers and insurance regulatory from six Asian countries Indonesia, Nepal, Mongolia, Philippines, Thailand and Vietnam signed the Cebu Declaration jointly with the officers from GIZ (Deutsche Gesellschaft fur internatonale Zusammenarbelt) and Asian Development Bank. The Cebu Declaration is a non-binding document which declares commitment of the signatories to the promotion and development of inclusive insurance (microinsurance) markets. In 2016 MEFIN was transformed into a formal network with Pakistan as a new member as the network now serves as platform of peer –to-peer learning among makers and insurance regulators in the region as it develops and implements programs that provide mutual benefits to its members in advancing insurance solutions . Overall MEFIN aims to create impacts of regulation and supervision along the dimensions of market development, institutional development and client value for the benefit of the poor.