 Welcome to the Fiji Symposium 2019 here in Cairo in Egypt, where I'm very pleased to be joined in the studio today. Mr. Giorgi Nikolov Popov Karachov, who is the Director General of the FIMPE for Mexico. Welcome to the studio. Thank you very much for the invitation. It's a pleasure to be here. First of all, perhaps we could address, what does FIMPE stand for? FIMPE is FIMPE. It's a trust of banks. Several banks of Mexico make the trust that they participate, and the primary objective of them is to promote financial inclusion. Great. Well, this is obviously what we're talking about here. I want you to start off by asking you what do you think it will take for the world's poorest people to prefer digital financial services over cash? And do you think the digital financial services will be enough for this to happen? I think that the poorest people in the world, they have primary needs. That means that they live day by day. So it's immediate. So they must have confidence in the services, in the financial services. I think that will be the first thing on them. The usability and availability of the cash is excellent because you have immediately. So we, like technology people with financial inclusion, we must try to do that financial services are or have the same usability and availability. Like cash. If not, I really think that there is not going to be financial inclusion. And finally, privacy. Privacy, I think that it is something that it should be guaranteed. Because privacy takes us to another thing that people feel like they are supervising them, right? So it's something similar like if you are in a house or in a place and there is a policeman or there is a camera. People feel more comfortably if there is a camera and not a policeman, right? So I think that that will be the way. What innovations do you think are required in regulatory collaboration to create an enabling environment for digital financial services? I think they should be lowered. The regulations should be lowered associated with financial inclusion. That's the first thing. Goodwill. Goodwill is something very different, very difficult to find in I think in a lot of the countries or maybe in the most of the countries. We have to be focused on the primary needs. So that means just for taking for the risks and let it flow. Because financial inclusion is something that should flow and innovation is something that should flow. An unintended consequence of a digital finance-led financial inclusion program is that it can lead to greater financial data inclusion, but not necessarily increased financial inclusion. I wanted to ask you, do you agree with this statement? Yes, it's okay. I agree with that statement. We should create mass of the people of usage. But the way to do that, I think that it is to start with a very little service and to step it up one by one and to create confidence between other people. How do you see the fintech sector reshaping digital financial services? Fintech are something that I really think that they have almost, they exist forever. That's not a new, we just name them like a new fintech technology, the financial technology companies. The thing with fintech is that I really think that imagination needs creation and creation and innovation needs freedom. So maybe the rules with them, they are very overruled. They should start on rules and after that with very small rules, we can create a very big ecosystem. For example, Mexico is the second biggest ecosystem in Latin America, in all of America. The first one is Brazil. We are by 2.5 bigger than Colombia, which is the third one. After us, it's like three times, it's Argentina and the fourth one is Chile. So we are in a boom of fintechs. We have been in a boom of fintechs. Last year, they released the fintech law in Mexico. That's something really new. So we should have to wait until the next year just to see if that rules or if that laws that are maybe overruled. They are going to make disappear fintechs or they are promoting fintechs. And finally, what role can governments play, do you think, to enhance usage of digital financial services at the national level? At the national level, I really think that they have to promote financial services on the core services that the government is doing. For buying things, for example, for paying roles to the people, for giving subsidies to the people is something very important. Because you cannot give subsidies or social benefits to people in cash. So that is something that must be ruled and to create the base of the financial inclusion system in every country. Gigi Nikolov, Popov Karadrov. Thank you very much indeed for sharing these valuable insights with us. And we hope to catch up with you again at some stage in the near future, perhaps in Mexico. Perhaps, maybe. We don't know where it's going to be the next video. Thank you very much. It was a pleasure.