10.1 Inclusion

10.1.1 Introduction

Article 123 of the Decretal Law states: “The Board of Directors shall establish necessary regulations and mechanisms to ensure that every natural Person shall have the right to access all or part of the banking and financial services and products from Licensed Financial Institutions suited to his/her need.”

To be able to fully participate in society and the financial Market, access must be inclusive. Consumers including vulnerable groups and People of Determination must have access to Financial Products and/or Services, e.g. a bank account, credit and the ability to carry out financial transactions in a safe and efficient manner.

10.1.2 Description

1. 10.1.2.1 Licensed Financial Institutions must consider the requirements of vulnerable groups and People of Determination in its product and service design.
    
2. 10.1.2.2 Licensed Financial Institutions must provide the option of basic and low-cost financial products and/or services to Consumers.
    
3. 10.1.2.3 The staff of Licensed Financial Institutions must be regularly trained to identify and, where possible, assist vulnerable persons and People of Determination.
    
4. 10.1.2.4 Licensed Financial Institutions must consider a vulnerable person’s or person of Determination’s special financial situation when offering products or services and the cost of any payable fees and instalments.
    
5. 10.1.2.5 Licensed Financial Institutions must ensure that they provide physical locations of their ATMs and branches where there is appropriate access and conveniences for use by People of Determination.
    
6. 10.1.2.6 Licensed Financial Institutions must be able to demonstrate their compliance with Federal Law No. 29 of 2006, in respect of the rights of People of Determination with Special Needs.
    

10.2 Gender and Racial Equality

10.2.1 Introduction

Minority Groups have differing financial needs. Licensed Financial Institutions have a responsibility of ensuring there is appropriate access to their products and/or services for Minority Groups.

10.2.2 Description

1. 10.2.2.1 Licensed Financial Institutions must establish anti-discrimination code of conduct.
    
2. 10.2.2.2 Licensed Financial Institutions should collect, analyse and track Consumer supply and demand Data disaggregated by gender, age and ethnicity to measure access to and usage of Financial Products and/or Services. The research outcome must be used solely for improving equality of the Financial Services provided to minority groups and females.
    
3. 10.2.2.3 Licensed Financial Institutions should consider the particular needs of minority groups in their financial education and awareness programs.
    
4. 10.2.2.4 Licensed Financial Institutions must not make decisions on the sale of product or services including Credit and/or setting of interest/profit rates that discriminate on the grounds of family status, gender of being a member of a Minority Group.