20 December 2021, Budapest, Hungary / Hiroshima, Japan / Geneva, Switzerland – UNITAR Division for Prosperity and Central Bank of Hungary (Magyar Nemzeti Bank – MNB) have launched a new partnership to develop a training programme on the digitalization of the financial sector.
MNB is one of the first central banks around the world to adopt a financial technology (FinTech) strategy and to analyse the digitalization of the financial sector in a regular, dedicated publication. Its leading experience and expertise inspired UNITAR’s new Digital Finance Initiative, launched in April 2021, which promotes comprehensive knowledge-sharing to facilitate digital transformation and digital financial inclusion. MNB was an important partner in the Initiative’s kick-off conference.
In 2022, UNITAR Division for Prosperity and MNB will together develop a new course that focuses on central banks’ role in supporting digital finance and sustainable development. The programme will primarily target financial professionals and regulatory authority officials. Topics will include digitalization of the financial sector, FinTech ecosystem, payment innovation, digital currencies, and digital transformation. MNB will also be an official partner for UNITAR’s annual Digital Finance Conference.
Ms Anikó Szombati, Chief Digital Officer, Executive Directorate for Digitalization and FinTech development, MNB says:
Our journey so far in discovering main pain points in the adoption of digitalization among incumbent financial institutions and in the safe spreading of FinTech initiatives has already served many valuable conclusions. We are happy to share our views and knowledge on the most innovative regulatory approaches and tools with those countries where the potential is the biggest for leapfrogging in the level and accessibility of modern, digital financial services. The opportunity must be seized.
We are excited to partner with the Central Bank of Hungary to strengthen our knowledge base in digital finance and to bring this expertise to a larger global audience. This partnership will help us support developing nations to harness digital finance to advance their development aspirations.
A memorandum of understanding between UNITAR and MNB was recently signed. There will be an official meeting at MNB in Budapest in December to cement this partnership.
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About the Magyar Nemzeti Bank (MNB)
The Magyar Nemzeti Bank (MNB) is the Central Bank of Hungary, established in 1924. The MNB is a member of the European System of Central Banks. The primary objective of MNB is to achieve and maintain price stability. Without prejudice to its primary objective, the MNB supports the economic policy of the Government, using the monetary policy instruments at its disposal. It performs all key central bank functions including holding and managing official reserves in foreign currency and gold, developing and monitoring payment and settlement systems, promoting the stability of the financial system, issuing banknotes and coins, collecting and publishing statistical information, and setting and publishing official exchange rates. MNB fosters digital transformation of the financial system to become more efficient and competitive, which is of utmost importance due to the long-term impacts of the pandemic.
About UNITAR, Division for Prosperity
The United Nations Institute for Training and Research (UNITAR) provides innovative learning solutions to individuals, organizations and institutions to enhance global and country-level action for a better future. Located in Hiroshima, the Division for Prosperity trains present and future change-makers from developing countries, particularly youth and women, so they may shape a more inclusive, sustainable, and prosperous world.