November 14, 2023

10:15 a.m. – 12:15 p.m. (Singapore)

11:15 a.m. – 1:15 p.m. (Tokyo)

9:15 a.m. – 11:15a.m.(Phnom Penh)

November 13, 2023

9:15 p.m. – 11:15 p.m. (Washington)

Location: IMF-Singapore Regional Training Institute, 79 Robinson Rd

CapitaSky Level 16-01, Singapore 068897

Ms. Kristalina Georgieva, Managing Director, IMF

Speech|Video

Mr. Ravi Menon,Managing Director, Monetary Authority of Singapore

Mr. Kentaro Ogata,Deputy Director-General of the International Bureau, Ministry of Finance, Japan —virtual

Ms. Serey Chea, Governor, National Bank of Cambodia —virtual

Speech

Mr. Dong He, Deputy Director, Monetary and Capital Markets Department, IMF

Presentation:Central Bank Digital Currency: Initial Considerations

Ms. Yan Liu, Deputy General Counsel, Legal Department, IMF

Presentation:CBDC Policy: The Legal and Financial Integrity Element

Mr. Changchun MU,Director General, Digital Currency Institute, the People’s Bank of China—virtual

Presentation: e_CNY

Mr. Shri Suvendu Pati, Chief General Manager, Fintech Department, Reserve Bank of India

Mr. Ryan Rizaldy, Director of Payments, Bank Indonesia

Presentation:Navigating the Architecture of Digital Rupiah

Ales Bulir, Deputy Director, IMF – Singapore Regional Training Institute 

Mr. Ales Bulir (Aleš Bulíř) joined the IMF – Singapore Regional Training Institute (STI) as Deputy Director in September 2020. Prior to joining STI, he was Deputy Division Chief in the IMF Research Department and Institute for Capacity Development. He joined the IMF in 1993 and worked in the European, Monetary and Exchange Affairs, African, Policy Development and Review, Research and Institute for Capacity Development Departments. His graduate degrees are from the London School of Economics and Prague University of Economics. Prior to joining the Fund, he taugh

Bo Li, Deputy Managing Director, IMF

Mr. Bo Li assumed the role of Deputy Managing Director at the IMF on August 23, 2021. He is responsible for the IMF’s work on about 90 countries as well as on a wide range of policy issues. Before joining the IMF, Mr. Li worked for many years at the People’s Bank of China, most recently as Deputy Governor. He earlier headed the Monetary Policy, Monetary Policy II, and Legal and Regulation Departments, where he played an important role in the reform of state-owned banks, the drafting of China’s anti-money-laundering law, the internationalization of the renminbi, and the establishment of China’s macroprudential policy framework.

Outside of the PBoC, Mr. Li served as Vice Mayor of Chongqing—China’s largest municipality, with a population of over 30 million—where he oversaw the city’s financial-sector development, international trade, and foreign direct investment. Mr. Li was also Vice Chairman of the All-China Federation of Returned Overseas Chinese. He started his career at the New York law firm of Davis Polk & Wardwell, where he was a practicing attorney for five years.

Mr. Li holds a Ph.D. from Stanford University and an M.A. from Boston University, both in economics, as well as a J.D., magna cum laude, from Harvard Law School. He received his undergraduate education from Renmin University of China in Beijing.

Dong He, Deputy Director, Monetary and Capital Markets Department, IMF

Mr. Dong He is Deputy Director of the Monetary and Capital Markets Department (MCM) of the International Monetary Fund. He has led MCM’s work on digital currencies and fintech, global financial stability analysis, monetary and macroprudential policies, and technical assistance to central bank operations.

Dong holds a doctorate in economics from the University of Cambridge. He started his career in 1993 when he joined the World Bank through the Young Professionals Program. He was a staff member of the IMF during 1998-2004. Prior to rejoining the IMF in October 2014, he was Executive Director at the Hong Kong Monetary Authority, responsible for directing research and policy advice on issues relating to the maintenance of monetary and financial stability and the development of financial markets. He was also Director of the Hong Kong Institute for Monetary Research.

Dong has been an active member of the global central banking community and a regular participant in international meetings of central banks and regulatory agencies. He has published extensively on macroeconomic and financial market issues.

Leonardo Gambacorta, Head of the Innovation and the Digital Economy Unit, Bank for International Settlements

Mr. Leonardo Gambacorta is the Head of the Innovation and the Digital Economy unit at the BIS. Before taking up his current position, Leonardo was Research Adviser (2014-2018) and Head of Monetary Policy (2010-12) in the Monetary and Economic Department. Previously, he was Head of the Money and Credit Unit (2007-09) and Head of the Banking Sector Unit (2004-06) of the Research Department of the Bank of Italy. He was a visiting scholar at the National Bureau of Economic Research (2002-03). He holds an MSc in Economics from the University of Warwick and a PhD in Economics from the University of Pavia. His main interests include monetary transmission mechanisms, the effectiveness of macroprudential policies in curbing systemic risk, and the effects of technological innovation on financial intermediation. He is a research fellow of the Centre for Economic Policy Research.

Digital Banking: Opportunities and Challenges

Andrew Tan, Executive Director, Monetary Authority of Singapore

Mr. Andrew Tan is currently the Executive Director and Head of the Prudential Policy Department at the Monetary Authority of Singapore. His team crafts the regulatory frameworks for Singapore’s banking sector, including Singapore’s bank capital and liquidity requirements, and resolution and deposit insurance frameworks. He oversees policies to balance between mitigating prudential and social risks, while facilitating innovation to meet Singapore’s evolving banking needs.

He has been with the MAS for over 10 years in various roles, including assessing the macroprudential risks to Singapore’s financial system, and supervising exchanges, clearing houses, and collective investment schemes. Andrew holds a Masters in Management Science and Engineering from Stanford University.

Overview of Digital Bank Regulation in Singapore

Yinfan Zhang, Director, International Public Policy and Gov Affairs, Ant Group (Global Business & Policy Research)

Mr. Yinfan Zhang leads engagement strategy with overseas governments to Ant Group’s relationship with various policymakers, regulators, and academics based in Shanghai. He also supports key cross-border business strategies for Ant Group by providing policy research in our key markets. In addition to that, he also leads the international government partnership work with 10x1000 Tech for Inclusion program, which is an open and global fintech training platform that enables learners to become drivers of digital economic growth launched jointly by the International Finance Corporation (IFC), a member of the World Bank Group, and Alipay in 2018.

Prior to working for Ant Group, he had worked in the UK Department for International Trade for 7 years, where he led the capital markets, asset management, and fintech team to develop policy objectives in support of trade and investment opportunities between the UK and China, as well as developing bilateral collaboration in financial services. He worked closely with the industry, government, and financial regulators in several bilateral mechanisms including the UK-China Economic and Financial Dialogue, Capital Markets Working Group, and Close-out Netting working Group. He also led the UK-China Green Finance collaboration in capital markets, covering taxonomy, product innovation, and capacity building.

Yinfan is a graduate of the University of Glasgow in Scotland, where he earned a MSc in Management and a graduate of East China University of Political Science and Law where he earned a BA in Journalism and LLB.

Yoke Wang Tok, Senior Economist, STI

Ms. Tok Yoke Wang has over two decades of experience in central banking, spanning macroeconomics research, financial stability analysis and international relations. She has worked at the IMF as a Senior Advisor to the Board, at the Toronto Centre as Program Director, at the World Gold Council as Director and at the Monetary Authority of Singapore (MAS). At the MAS, she held various senior positions, including as Principal Economist in the International Economies Division as well as in the Financial Surveillance Division and the External Department. Yoke Wang holds a Masters Degree in Economics from Cambridge University and a First Class Honours Degree in Economics from the National University of Singapore.

Contacts:

Webinar Support: Joan Goh, Senior Programs Executive, STI: jgoh@imf.org

IT Support: Reagan Lie, Information Management and Communication Officer, STI: rlie@imf.org

Media Contact: Pemba Tshering Sherpa, Press Officer, Communications Department, IMF: PSherpa@imf.org

Alfred Schipke, Director, IMF – Singapore Regional Training Institute

Mr. Alfred Schipke leads the IMF – Singapore Regional Training Institute since September 2021. Prior to that he was Assistant Director in the IMF Asia and Pacific Department and Mission Chief for India. From 2013-2020 he was the IMF Senior Resident Representative for China providing policy advice, leading the analytical work of the office, and coordinating the IMF’s capacity building activities in China. He was also division chief in the IMF Asia and Pacific Department coordinating the work on fast-growing low-income countries in Southeast Asia (Frontier Economies) and Mission Chief for Vietnam. Before that, he oversaw the Latin Caribbean and Eastern Caribbean Currency Union divisions in the in the IMF’s Western Hemisphere Department, where he negotiated several IMF programs. He has taught international finance at Harvard Kennedy School and the National School of Development at Peking University and has authored and edited several books and articles.

Tobias Adrian, Financial Counsellor and Director, Monetary and Capital Markets Department, IMF

Tobias Adrian is the Financial Counsellor and Director of the Monetary and Capital Markets Department of the International Monetary Fund (IMF). In this capacity, he leads the IMF’s work on financial sector surveillance, monetary and macroprudential policies, digital money, financial regulation, bank resolution, sovereign debt, capital markets, and climate finance. He also oversees capacity building activities in IMF member countries with regard to the supervision and regulation of financial systems, bank resolution, central banking, monetary and exchange rate regimes, central bank digital currency, and debt management.

Prior to joining the IMF, Mr. Adrian was a Senior Vice President of the Federal Reserve Bank of New York and the Associate Director of the Research and Statistics Group. At the Federal Reserve, he contributed to monetary policy, to financial stability policies, and to crisis management.

Mr. Adrian has published extensively in economics and finance journals. His research spans macro-finance, monetary policy, financial stability, and climate finance, with a focus on aggregate consequences of capital market developments. He has taught at Princeton University and New York University. He is member of the editorial boards of the International Journal of Central Banking and the Annual Review of Financial Economics.

Mr. Adrian holds a Ph.D. from the Massachusetts Institute of Technology in Economics, an MSc from the London School of Economics in Econometrics and Mathematical Economics, a Diploma from Goethe University Frankfurt and a Maîtrise from Dauphine University Paris. He received his Abitur in Literature and Mathematics from Humboldtschule Bad Homburg.

Yan Liu, Deputy General Counsel, Legal Department, IMF

Yan Liu is the Deputy General Counsel in the Legal Department of the International Monetary Fund. Ms. Liu has advised on all aspects of the IMF’s operations, including its surveillance over member countries’ economies and financial and technical assistance to its members.

She currently leads the IMF’s work to help member countries strengthen their legal frameworks to regulate the financial sector and respond to the opportunities and challenges posed by technological changes, and to contribute to the development of international standards for financial regulation. She also oversees the Legal Department’s work on the development and implementation of the IMF polices on lending, sovereign debt restructuring, bank resolution and private sector debt resolution with a focus on corporate and household insolvency and debt enforcement.

Finally, she supervises the Legal Department’s activities in AML/CFT and related financial integrity matters at both the policy and the member country level.

Harald Finger, Division Chief, Asia and Pacific Department, IMF

Harald Finger is the IMF’s mission chief for Korea and leads the work on financial sector issues for the IMF’s Asia and Pacific Department. Harald joined the IMF in 2001, and his work experience has included a variety of countries across income levels in Africa, Asia/Pacific, the Caribbean, the Middle East, and South America. His experience also includes work as head of the Regional Studies Division of the IMF’s Asia and Pacific Department and deputy head of the Regional Studies Division of the IMF’s Middle East and Central Asia Department. As mission chief for Pakistan, Harald was responsible for one of the IMF’s largest lending programs. Prior to joining the IMF, Harald was a Senior Economist at Deutsche Bank covering Germany and the euro area. Harald is a national of Germany.

Setting the Stage: An Overview of Capital Flow Management Issues

Dong He, Deputy Director, Monetary and Capital Markets Department, IMF

Dong He is Deputy Director of the Monetary and Capital Markets Department (MCM) of the International Monetary Fund. He has led MCM’s work on digital currencies and fintech, global financial stability analysis, monetary and macroprudential policies, and technical assistance to central bank operations.

Dong holds a doctorate in economics from the University of Cambridge. He started his career in 1993 when he joined the World Bank through the Young Professionals Program. He was a staff member of the IMF during 1998-2004. Prior to rejoining the IMF in October 2014, he was Executive Director at the Hong Kong Monetary Authority, responsible for directing research and policy advice on issues relating to the maintenance of monetary and financial stability and the development of financial markets. He was also Director of the Hong Kong Institute for Monetary Research.

Dong has been an active member of the global central banking community and a regular participant in international meetings of central banks and regulatory agencies. He has published extensively on macroeconomic and financial market issues.

Capital Flow Management in the Digital Age: Challenges from Crypto Assets

Vachira Arromdee, Executive Adviser, CBDC Projects, Bank of Thailand

Ms. Vachira currently serves as the Executive Advisor of CBDC projects at the Bank of Thailand. She has been working for the Bank of Thailand for 30 years. She was the former Deputy Governor for Corporate Development overseeing the holistic organization including Human Resources, Technology, Risk management, Legal, Banknote Management and Corporate Services. She also served as Chairman of the Banknote Management Committee, Member of the Monetary Policy Committee, and the Payment Systems Committee.

CBDC Design and Capital Flow Management—the mBridge Experiment

Anne-Marie Gulde-Wolf, Deputy Director, Asia and Pacific Department, IMF

Anne-Marie Gulde-Wolf, a German National, is the Deputy Director of the IMF’s Asia and Pacific Department (APD). She is directly overseeing the department’s work and policy priorities on South Asian countries (India, Bangladesh, Bhutan, Nepal, Maldives, and Sri Lanka) and on several East Asian countries (Cambodia, Lao PDR, Myanmar, Thailand, and Vietnam) as well as the department’s work on financial sector issues. Before joining APD in 2019, she was Deputy Director in the African and earlier in the European Department, and she previously held a Division Chief position in the Monetary and Capital Markets Department.

Ms. Gulde-Wolf studied Economics, Political Science, and History in Tuebingen, (Germany), St. Louis (USA), and Kiel (Germany) and holds a PhD in international economics from the Graduate Institute of International Studies in Geneva (Switzerland). She has published widely on different topics in international economics, with a focus on exchange rate regimes, currency boards, and financial stability and development issues.

Alfred Schipke, Director, IMF – Singapore Regional Training Institute

Mr. Alfred Schipke leads the IMF – Singapore Regional Training Institute since September 2021. Prior to that he was Assistant Director in the IMF Asia and Pacific Department and Mission Chief for India. From 2013-2020 he was the IMF Senior Resident Representative for China providing policy advice, leading the analytical work of the office, and coordinating the IMF’s capacity building activities in China. He was also division chief in the IMF Asia and Pacific Department coordinating the work on fast-growing low-income countries in Southeast Asia (Frontier Economies) and Mission Chief for Vietnam. Before that, he oversaw the Latin Caribbean and Eastern Caribbean Currency Union divisions in the in the IMF’s Western Hemisphere Department, where he negotiated several IMF programs. He has taught international finance at Harvard Kennedy School and the National School of Development at Peking University and has authored and edited several books and articles.

Bo Li, Deputy Managing Director, IMF

Read the speech

Yan Liu, Deputy General Counsel, Legal Department, IMF

Yan Liu is the Deputy General Counsel in the Legal Department of the International Monetary Fund. Ms. Liu has advised on all aspects of the IMF’s operations, including its surveillance over member countries’ economies and financial and technical assistance to its members.

She currently leads the IMF’s work to help member countries strengthen their legal frameworks to regulate the financial sector and respond to the opportunities and challenges posed by technological changes, and to contribute to the development of international standards for financial regulation. She also oversees the Legal Department’s work on the development and implementation of the IMF polices on lending, sovereign debt restructuring, bank resolution and private sector debt resolution with a focus on corporate and household insolvency and debt enforcement.

Finally, she supervises the Legal Department’s activities in AML/CFT and related financial integrity matters at both the policy and the member country level.

Dong He, Deputy Director, Monetary and Capital Markets Department, IMF

Dong He is Deputy Director of the Monetary and Capital Markets Department (MCM) of the International Monetary Fund. He has led MCM’s work on digital currencies and fintech, global financial stability analysis, monetary and macroprudential policies, and technical assistance to central banks.

Dong holds a doctorate in economics from the University of Cambridge. He started his career in 1993 when he joined the World Bank through the Young Professionals Program. He was a staff member of the IMF during 1998-2004. Prior to rejoining the IMF in October 2014, he was Executive Director at the Hong Kong Monetary Authority, responsible for directing research and policy advice on issues relating to the maintenance of monetary and financial stability and the development of financial markets. He was also Director of the Hong Kong Institute for Monetary Research.

Dong has been an active member of the global central banking community and a regular participant in international meetings of central banks and regulatory agencies. He has published extensively on macroeconomic and financial market issues.

A Primer on Digital Cross-Border Payment Systems

Sopnendu Mohanty, Chief FinTech Officer, Monetary Authority of Singapore

Sopnendu Mohanty, currently the Chief FinTech Officer at the Monetary Authority of Singapore, is responsible for creating development strategies, public infrastructure, and policies around technology-driven innovation. Mr. Mohanty has over two decades of public and private sector experience in technology, operations, digital Finance, and investment strategies.

Mr. Mohanty extensively engages with global technology and financial services ecosystems and has championed notable collaborative public goods like API Exchange (APIX), Singapore Fintech Festival, Payment Rails, Data exchange platforms, and experimental programs like UBIN. In addition, Mohanty advises many international global advisory bodies on Fintech, Innovation, and Inclusion. Within five years of his leadership, Singapore has become a leading global Fintech hub producing unicorns and home to many vibrant fintech companies.

He has co-authored several patented works in the application of digital technology in Finance and won many industry recognitions.

Singapore’s Experiences with Digital Cross-Border Payment Systems and the Way Forward

Andrew McCormack, Center Head, Bank for International Settlements Innovation Hub (BIS)

Andrew McCormack is the Centre Head for the Bank for International Settlements Innovation Hub (BISIH) in Singapore. Prior to this appointment at the BIS in 2020, Andrew was the Chief Information Officer at Payments Canada and was responsible for Canada’s clearing and settlement systems.

As a technology and innovation leader, Andrew led a numbers of well-known Central Bank Digital Currency (CBDC) initiatives including Project Jasper (w/ Bank of Canada) and Project Dunbar (BIS), as well as ground-breaking work on real time cross-border payment systems known as Project Nexus (BIS).

Andrew has an MBA from the Ivey Business School and Bachelor of Computer Science from Carleton University.

Initial Considerations for a Multi-Country Platform

Siritida Panomwon Na Ayudhya, Assistant Governor, Bank of Thailand

Siritida has over 25 years of experience in banking supervision both as a policy maker and a supervisor. During 1997 financial crisis, she was involved in resolution and restructuring process of problem and failed financial institutions. She was also a member of the team to set up the National Asset Management Company to receive troubled loans from banks and also introduced the deposit insurance scheme to the financial system. Moreover, she also had experience as Director of the Corporate Communication Department and a head of the Banking Supervision Department.

During her assignment as an Assistant Governor on Payment System Policy and Financial Technology, she involved in driving the national e-payment project and building fintech ecosystem.

Thailand’s Experience with Digital Cross-Border Payment Systems

Suhaimi Ali, Assistant Governor, Bank Negara Malaysia

Suhaimi Ali has 24 years of experience as a central banker. He currently oversees the Financial Development and Innovation, Islamic Finance, as well as Financial Inclusion departments.

Throughout his career with BNM, he has served in various areas which include financial sector development, regulation and supervision, strategic planning, consumer protection, market conduct, international negotiations digital and cyber strategies in IT services, as well as in the Governor's Office.

In his previous role as the Director of the Financial Development and Innovation, he was responsible for the development of the financial sector and payments systems, as well as to drive digital innovation within the sector. He also recently led the development of the Financial Sector Blueprint 2022 – 2026.

Suhaimi Ali graduate from the University of Notre Dame, United States of America with a Bachelor of Business Administration (Accounting).

Experience with Cross-Border Digital Payment Systems

Jeremy Tan, Chief Executive Officer, Liquid Group Pte. Ltd.

Jeremy is the founder and CEO of Liquid Group Pte Ltd, a cross border digital payment non-bank financial institution headquartered in Singapore, with presence across the Asia-Pacific. He has been involved in payment ventures for over twenty years and is currently a member of Singapore’s Payments Council and serves as a Co-opted Councilor in SGTech.

Jeremy is also Singapore Representative to the East Asia Business Council (EBAC) and Malaysian Singapore Business Council (MSBC).

From 2009 to 2017, Jeremy was on the Board of Infocomm Investments Pte Ltd (now SGInnovate) and from 2009 to 2013, he served on the Board of the Infocomm Development Authority of Singapore (IDA), where he also served on the Investment Committee.

Jeremy holds a Master of Science (Comparative Politics) from the London School of Economics, and a Bachelor of Engineering from King’s College London.

Soon Chong Lim, Group Head, Global Transaction Services, Institutional Banking Group, DBS

Soon Chong started his current position in August 2021 as Group Head, Global Transaction Services. Global Transaction Services consist of Cash & Payment Solutions, Documentary Trade, Open Account Trade and Securities & Fiduciary Services.

In his current capacity, Soon Chong is also responsible for driving the digital agenda for the Institutional Banking Group.

Soon Chong has more than 25 years of financial sector experience acquired in varied roles across transaction banking, wealth products advisory and portfolio management, digital transformation, asset-liability management, bank capital & risk management, prudential policy development and macroeconomic analysis.

His immediate prior roles in DBS were as Group Head of Investment Products & Advisory, Consumer & Wealth Management and Head of Balance Sheet & Strategic Portfolio Management, Corporate Treasury.

Before joining DBS in 2006, he worked at Algorithmics Inc (acquired by IBM) as well as the Monetary Authority of Singapore. Soon Chong is currently a member of the Board of Directors of the Singapore Land Authority, Partior Pte Ltd and Singapore Trade Data Exchange Services Pte. Ltd. Soon Chong also participates in the Bankers Association for Finance and Trade – Transaction Banking Global Leaders Roundtable.

Soon Chong holds a Bachelor of Social Sciences (Honours) degree in Economics from the National University of Singapore.

Q&A

Natalia Novikova, Resident Representative, IMF

Natalia Novikova is the IMF Resident Representative in Singapore covering macro-financial developments in ASEAN. Natalia has extensive experience in designing macroeconomic policies in a range of advanced and emerging economies, including in the context of the IMF-supported programs.

Prior to joining the IMF in 2013, Natalia was an Economist at Citigroup and worked at the Monetary operations department of the Central bank of Russia, as well as PwC.

Her research interests and publications include the analysis of sovereign debt sustainability, monetary policy, modelling of inflation and exchange rates.

Agenda and Speaker Bios

日程安排和讨论嘉宾的简历（中文）

Alfred Schipke, Director, IMF – Singapore Regional Training Institute

Mr. Alfred Schipke leads the IMF – Singapore Regional Training Institute since September 2021. Prior to that he was Assistant Director in the IMF Asia and Pacific Department and Mission Chief for India. From 2013-2020 he was the IMF Senior Resident Representative for China providing policy advice, leading the analytical work of the office, and coordinating the IMF’s capacity building activities in China. He was also division chief in the IMF Asia and Pacific Department coordinating the work on fast-growing low-income countries in Southeast Asia (Frontier Economies) and Mission Chief for Vietnam. Before that, he oversaw the Latin Caribbean and Eastern Caribbean Currency Union divisions in the in the IMF’s Western Hemisphere Department, where he negotiated several IMF programs. He has taught international finance at Harvard Kennedy School and the National School of Development at Peking University and has authored and edited several books and articles.

Antoinette M. Sayeh, Deputy Managing Director, IMF

Before assuming her new role at the IMF, Antoinette Monsio Sayeh was a Distinguished Visiting Fellow at the Center for Global Development (CGD) and Co‐Chair for the recently concluded 19th Replenishment of the International Development Association (IDA19), the World Bank’s Fund for the poorest. She previously oversaw and significantly enhanced the International Monetary Fund’s engagement with its sub‐Saharan African members as Director of the African Department between July 2008 and August 2016.

As Minister of Finance in post‐conflict Liberia (January 2006 through June 2008), she led the country through the clearance of its long‐standing multilateral debt arrears, the HIPC Decision Point, the Paris Club, and its first Poverty Reduction Strategy, significantly strengthening its public finances and championing public financial management reform. Before joining President Ellen Johnson Sirleaf’s Cabinet, Ms. Sayeh worked for the World Bank for 17 years, including as Country Director for Benin, Niger, and Togo; Senior Country Economist for Pakistan and Afghanistan, as well as an Advisor in the Bank’s Operations Policy Vice Presidency and as Assistant to its principal Managing Director. Before joining the Bank, Ms. Sayeh worked in economic advisory positions in Liberia’s Ministries of Finance and Planning.

Ms. Sayeh graduated with a bachelor’s degree with honors in economics from Swarthmore College and a PhD in International Economic Relations from the Fletcher School at Tufts University. While at CGD, Ms. Sayeh has also served on the Board of Managers of Swarthmore College; Board of Directors of the Ellen Johnson Sirleaf Presidential Center for Women and Development; and Board of Directors of Emerging Public Leaders.

Opening Remarks - Peer‐Learning Series: Fintech and Financial Inclusion and the Case of Bangladesh

Chang Yong Rhee, Governor, Bank of Korea

Mr. Chang Yong Rhee is the Governor of the Bank of Korea and the Chairman of its Monetary Policy Board. He took office for a full term of four years on April 21, 2022. Born in 1960, Governor Rhee received a B.A. in Economics from Seoul National University in 1984 and a Ph.D. in Economics from Harvard University in 1989. Prior to his appointment as governor of the central bank, Governor Rhee was Director of the Asia and Pacific Department at the IMF (2014-2022); Chief Economist of the Asian Development Bank (ADB) (2011-2014); Secretary General and Sherpa of the Presidential Committee for the 2010 G-20 Seoul Summit (2009-2011); Vice Chairman of the Financial Services Commission (FSC) and Chairman of the Securities and Futures Commission of Korea (2008-2009). Governor Rhee previously also held teaching positions at universities from 1989 to 2008. He was Professor, Associate Professor, and Assistant Professor of Economics at Seoul National University (1994-2008), and Assistant Professor at University of Rochester (1989-1994). Governor Rhee had also been a frequent policy advisor to the Bank of Korea as well as the Government of Korea, including in the Office of the President, the Ministry of Finance and Economy, and the Korea Securities Depository. His key research interests include macroeconomics, financial economics, and the Korean economy, and he has published widely in these subjects of interest.

Bank of Korea’s Efforts for a Korean CBDC

Tao Wu, Senior Economist, Institute for Capacity Development, IMF

Mr. Tao Wu is a senior economist in the Institute for Capacity Development at the IMF. Prior to joining the IMF in 2010, he had worked as a policy advisor for the U.S. Federal Reserve for ten years, where he was responsible for analyzing the U.S. economy and global financial market and providing monetary policy recommendations to the Federal Open Market Committee members including Janet Yellen. At the IMF, he had covered monetary, fiscal, and exchange rate policies of the U.S. and the Euro Area. He conducts research in macroeconomics, monetary policy, asset pricing, and financial market, and is the recipient of the Best Paper of the Year Award from the Royal Economic Society in 2009. He has also served as an Associate Editor of the Journal of Money, Credit, and Banking. Mr. Wu is from China and holds a Ph.D. in Economics from Yale University.

Fintech and Financial Inclusion: An Overview | English | Portuguese

Habibur Rahman, Chief Economist, Bangladesh Bank

Dr. Md. Habibur Rahman is currently working as a Chief Economist in Bangladesh Bank (the Central Bank of Bangladesh). Dr. Rahman joined the Research Department of Bangladesh Bank in 1990 and has been working under various capacities of the Bank since then. He was also appointed as a Senior Research Economist at the Policy Analysis Unit (PAU), a World Bank-funded capacity development project in the Bank. Dr. Rahman completed his B.Sc. (Honors) and M.Sc. in Economics from Jahangirnagar University, Savar, Dhaka. Later on, he obtained his Master's in Economics and Ph.D. in Applied Economics respectively from Eastern Michigan and Western Michigan University of the USA.

Dr. Rahman attended the Advanced Training Program (ATP) at the Bangladesh Institute of Development Studies (BIDS). He has also attended ‘the Fletcher School Leadership Program for Financial Inclusion,’ an innovative training initiative of the Tuft University (USA) designed for banking regulators and policymakers. Dr. Rahman has many publications covering monetary, real, fiscal, and external sector economics.

Fintech and Financial Inclusion and the Case of Bangladesh | English | Portuguese

Patrick Njoroge, Governor, Central Bank of Kenya

Dr. Patrick Njoroge is the ninth Governor of the Central Bank of Kenya (CBK), and has been in office since June 19, 2015. He has overseen a significant overhaul of the banking system in Kenya, including the launch of the first Kenya Banking Sector Charter. He also led the country in the launch of the new generation currency banknotes and coins, thus fulfilling a much-anticipated constitutional requirement. Dr. Njoroge has been keen on facilitating the growth of the Micro, Small and Medium Sized Enterprise (MSME) sector, which has been the engine of growth of the Kenyan economy.

Dr. Njoroge joined CBK after a twenty-year career at the International Monetary Fund (IMF) in Washington, DC. Prior to his appointment as Governor, Dr. Njoroge was Advisor to the IMF Deputy Managing Director from December 2012, where his responsibilities included assisting in overseeing the IMF’s engagement with a large swath of IMF members. He also served as Deputy Division Chief in the IMF’s Finance Department (2006-2012), IMF’s Mission Chief for the Commonwealth of Dominica (2005-2006) and in other capacities since 1995. Prior to joining the IMF, Dr. Njoroge worked as an Economist at the Ministry of Finance (1993-1994) and as a Planning Officer at the Ministry of Planning (1985-1987).

He holds a PhD degree in Economics from Yale University (1993), a Master of Arts degree in Economics (1985) and a Bachelor of Arts degree in Economics (1983) from the University of Nairobi. Dr. Njoroge’s professional and research interests lie in Macroeconomics, Economic Policy, International Finance, Development Economics, Econometrics and Monetary Policy.

Dr. Njoroge began his second four-year term in June 2019. He was appointed to the UN Task Force on Digital Financing by Secretary General Antonio Guterres in November 2018.

 

Kenya’s Experience in Leveraging on Fintech to Propel Financial Inclusion

Abdur Rouf Talukder, Governor, Bangladesh Bank

Mr. Abdur Rouf Talukder, joined as the 12th Governor of Bangladesh Bank on 12 July 2022. Mr. Talukder started his professional career on 15 February, 1988 as a member of the Bangladesh Civil Service. He has served in various capacities in the government for more than 34 years of his career. He was appointed as the Finance Secretary on 17 July 2018 and promoted to Senior Secretary on 31 October 2020. Before being appointed the Finance Secretary, he had worked for more than 18 years in various positions within the Finance Division. Apart from his career in the Finance Division, Mr. Talukder has served in the Ministry of Industries, Ministry of Food, and Ministry of Information. He also worked at Bangladesh High Commission, Kuala Lumpur as First Secretary (Commercial).

In the Finance Division, he made important contributions to budget reform, macroeconomic management, and the introduction of IT in PFM. He was instrumental in implementing the Medium-Term Budget Framework across the Government. He played the key role in introducing payroll automation for government employees, EFT for pensioners, introduction of Shariah based bond Sukuk and automation of the National Saving Certificates. He is one of the key contributors in drafting the Public Money and Budget management Act (2009), Autonomous Bodies’ Surplus Revenue Act (2020); and Universal Pension Management Law (2022).

As Finance Secretary, he served as Director, Board of Directors of Bangladesh Bank; Chairman, Bangladesh Infrastructure Finance Fund Limited; Chairman, National Human Resource Development Fund; Vice-Chairman, IDB-BISEW; Deputy Chairman, SABINCO; Director, Board of Biman Bangladesh Airlines; Director, Infrastructure Development Company Limited; Member of the Board of Governors of BIDS, Bangladesh Judicial Service Commission, BPATC, BIISS and National Defense College etc.

Mr. Talukder was awarded the 'National Integrity Award, 2020-21'. Under his leadership, Finance Division was awarded the 'Public Administration Award’ in 2021.

Mr. Talukder holds an M.Sc. in Development Management from the University of Birmingham, UK and an MBA from Institute of Business Administration (IBA), University of Dhaka. In addition, he has attended a number of professional training courses at Harvard Kennedy School of Government, Boston, USA; IMF Institute, Washington DC, USA; Crown Agents Professional Development Center, London, UK; National Graduate Institute for Policy Studies, Tokyo, Japan; and Institute of Public Finance (IPF), Dhaka.

Kamal Quadir, CEO, bKash Limited (bKash)

Mr. Kamal Quadir, a practitioner who focuses his efforts on technology that brings about social progress by enabling people to advance economically. He is the Founder and CEO of bKash, a digital financial service that offers millions of unbanked and underbanked people access to financial services through basic cellphones or smartphones in Bangladesh.

Earlier Kamal founded CellBazaar, a communication company, that has introduced a cellphone based electronic marketplace for developing countries. Kamal is a founding member of Open World Initiatives, a Lausanne, Switzerland based organization of young thinkers. He is involved with Anwarul Quadir Foundation and Shireen Quadir Trust that recognize innovations in developing countries. He received the Tech Award in 2007 for “Applying Technology to Benefit Humanity.” He is a First Mover Fellow of The Aspen Institute. In 2009 the World Economic Forum and TED have respectively selected him as a Young Global Leader and a TED Fellow. He is an accomplished artist whose work is in the collection of Bangladesh National Museum. He has a BA from Oberlin College and an MBA from the Sloan School of Management at MIT.

Nazneen Ahmed, Country Economist, United Nations Development Programme (UNDP)

Dr. Nazneen Ahmed is the Country Economist at UNDP Bangladesh. She has extensive research experience in macroeconomic management, international trade issues, industry, private sector, SME development, labour rights and gender issues. Before joining UNDP, she was a Senior Research Fellow at the Bangladesh Institute of Development Studies. She also served as a Director of the Palli Sanchay Bank, a public sector bank in Bangladesh.

She is a member of the senior management team of the UNDP and is leading policy and strategic advisory activities; supporting gender sensitivity in programmes and operations. Dr. Nazneen has published in renowned national and international journals, including the World Development, Bangladesh Development Studies, Journal of Contemporary Asia, Journal of Developing Areas, etc.

Dr. Nazneen possesses a Ph.D. from the University of Wageningen, the Netherlands, and a master’s degree in Development Economics from Sussex University, UK. She also has a bachelor’s degree and a master’s degree in Economics from the University of Dhaka.

Rahul Anand, Division Chief, Asia and Pacific Department, IMF

Mr. Rahul Anand is a Division Chief in the Asia Pacific Department and Mission Chief for Bangladesh. Prior to this, he worked in the IMF Institute for Capacity Development and the African Department. He has a broad range of experience of working in the Asia and Pacific region and in the Eastern and Southern Africa region, participating in many IMF missions and co-authoring a book on drivers of inflation in India and South Asia. In addition to working on surveillance and program cases in Asia and Africa, he has been closely involved in the Fund’s capacity development work, including leading missions on modernizing monetary policy frameworks in Asia and Africa and playing a key role in the establishment of SARTTAC. His research spans a range of areas, including general equilibrium modeling to study monetary policy issues in emerging and developing countries, macro-critical structural reforms, subsidy reforms, and growth-enhancing structural transformation. Before joining the IMF in 2010, he held various senior positions in India as a member of the Indian Administrative Service – designing, implementing, and monitoring government economic programs and policies. He holds a Ph.D. in Applied Economics from Cornell University and an MA in Public Administration from Harvard University.

Alfred Schipke, Director, IMF – Singapore Regional Training Institute

Alfred Schipke is Director of the IMF – Singapore Regional Training Institute for Asia and the Pacific since September 2021. Prior to that he was Assistant Director in the IMF Asia and Pacific Department and Mission Chief for India. As IMF Senior Resident Representative for China (2013-2020) he provided policy advice, led the analytical work of the office, and coordinated the IMF’s capacity development activities in China. He was also division chief in the IMF Asia and Pacific Department coordinating the work on fast-growing low-income countries in Southeast Asia (Frontier Economies) and Mission Chief for Vietnam. Before that, he oversaw the Latin Caribbean and Eastern Caribbean Currency Union divisions in the in the IMF’s Western Hemisphere Department, where he negotiated several successful IMF programs. He has taught international finance at Harvard Kennedy School and the National School of Development at Peking University and has authored and edited several books and articles.

Krishna Srinivasan, Director, Asia and Pacific Department, IMF

Yiping Huang, Professor of Finance and Economics and Director, Institute of Digital Finance, Peking University

Yiping Huang is Sinar Mas Chair Professor of Finance and Economics, Deputy Dean of the National School of Development, and Director of the Institute of Digital Finance, the Peking University. Currently, he is also Deputy Secretary-General of the China Society of Finance and Banking, Chairman of the Special Committee on Fintech Development and Research of the National Internet Finance Association of China, Chairman of the Academic Committee of the China Finance 40 Forum, a member of the Chinese Economists 50 Forum, Editor of China Economic Journal, an Associate Editor of Asian Economic Policy Review, an independent director of the Ant Group and the China Life Insurance.

His key research interests are macro economy and financial policy. 

Previously, he served as a member of the Monetary Policy Committee at the People’s Bank of China between 2015 and 2018. He was also a policy analyst at the Research Center for Rural Development of the State Council, Senior Lecturer at the Australian National University, General Mills International Visiting Professor of Economics and Finance at the Columbia Business School, Managing Director and Chief Asia Economist for Citigroup, Managing Director and Chief Economist for Emerging Asia for Barclays.

Prof Huang received his Bachelor of Agricultural Economics from Zhejiang Agricultural University, Master of Economics from Renmin University of China and PhD in Economics from Australian National University.

Dong He, Deputy Director, Monetary and Capital Markets Department, IMF

Dong He is Deputy Director of the Monetary and Capital Markets Department (MCM) of the International Monetary Fund. He has led MCM’s work on digital currencies and fintech, global financial stability analysis, monetary and macroprudential policies, and technical assistance to central banks.

Dong holds a doctorate in economics from the University of Cambridge. He started his career in 1993 when he joined the World Bank through the Young Professionals Program. He was a staff member of the IMF during 1998-2004. Prior to rejoining the IMF in October 2014, he was Executive Director at the Hong Kong Monetary Authority, responsible for directing research and policy advice on issues relating to the maintenance of monetary and financial stability and the development of financial markets. He was also Director of the Hong Kong Institute for Monetary Research.

Dong has been an active member of the global central banking community and a regular participant in international meetings of central banks and regulatory agencies. He has published extensively on macroeconomic and financial market issues.

Presentation

Changchun Mu, Director General, Digital Currency Institute, the People’s Bank of China

Changchun Mu is appointed Director-General of the Digital Currency Institute, People’s Bank of China in July, 2019. Mr. Mu joined the People’s Bank of China in 1995 and was appointed as the Deputy Director-General of Payment & Settlement Department in 2017. Mr. Mu is a member of CPMI, a member of FSB Financial Innovation Network, and also a member of IMF High-level Advisory Group on Finance and Technology.

Presentation

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Howard Lee, Deputy Chief Executive, Hong Kong Monetary Authority

Howard Lee is responsible for reserves management, financial infrastructure and fintech. He is also an Executive Director of the Hong Kong Mortgage Corporation Limited. He joined the HKMA in 2009 as a Division Head and has worked in various areas including monetary management, financial stability surveillance, corporate services and banking policy. He was appointed as a Deputy Chief Executive on 1 January 2018. Prior to joining the HKMA, Mr Lee worked in the Hong Kong SAR Government in areas relating to economic development, financial services and other public policies.

Presentation

Hiromi Yamaoka, Member of the Board, Future Corporation

Hiromi Yamaoka is the Member of the Board at Future Corporation. He assumed various positions in the Bank of Japan, including the Director-General of Markets Department and the Director-General of Payment and Settlement Systems Department. He also served as the Alternate Executive Director for Japan in the International Monetary Fund, the Member of the Basel Committee for Banking Supervision, the Member of the Markets Committee the Member of the Committee on Payments and Market Infrastructure (CPMI) of the Bank for International Settlements (BIS).

Presentation

Douglas Arner, Professor, The University of Hong Kong

Douglas W. Arner is the Kerry Holdings Professor in Law, RGC Senior Fellow in Digital Finance and Sustainable Development and Associate Director of the HKU-Standard Chartered Foundation FinTech Academy at the University of Hong Kong. In addition, he is Associate Dean (Taught Postgraduate and Development) of the Faculty of Law at HKU and co-founder and former Director of HKU’s Asian Institute of International Financial Law, as well as Faculty Director and co-founder of the LLM in Compliance and Regulation, the LLM in Corporate and Financial Law, the Law, Innovation, Technology and Entrepreneurship (LITE), and the East Asian International Economic Law and Policy Programmes. Douglas served as Head of the HKU Department of Law from 2011-2014, as Director of the Duke University-HKU Asia America Institute in Transnational Law from 2005-2016, and as an inaugural member of the Hong Kong Financial Services Development Council from 2013-2019. Douglas is a Visiting Professor and Senior Visiting Fellow of Melbourne Law School of the University of Melbourne, a Visiting Professorial Fellow of the Faculty of Law of UNSW Sydney, a non-executive director of NASDAQ and Euronext listed biotechnology firm Aptorum Group, an Advisory Board Member of the Global Impact FinTech (GIFT) Forum, Policy 4.0 and of the Centre for Finance, Technology and Entrepreneurship (CFTE), and co-founder and an executive board member of the Asia Pacific Structured Finance Association. Douglas has published eighteen books and more than 200 articles, chapters and reports on international financial law and regulation, including most recently Reconceptualising Global Finance and its Regulation (Cambridge 2016) (with Ross Buckley and Emilios Avgouleas) and The RegTech Book (Wiley 2019 (Janos Barberis and Ross Buckley). Melbourne, National University of Singapore, University of New South Wales, Shanghai University of Finance and Economics, and Zurich, among others.

Presentation

Hans Fan, Managing Director, CLSA

Hans Fan is currently Head of China Fintech/Financials Research at CLSA, and also in the capacity of Deputy Head of HK/China Research. He is a top ranked equity research analyst covering China Fintech and financial stocks. Prior to joining CLSA, he spent six years at Deutsche Bank and led a team covering China banks, fintech, brokers and asset managers. Before this, Hans worked at CIMB Securities and Standard Chartered Bank. Hans holds a Bachelor’s degree in economics from Sichuan University and a Master’s degree in economics from Hong Kong University of Science and Technology.

Presentation

Agenda and Speaker Bios

Alfred Schipke, Director, IMF – Singapore Regional Training Institute

Mr. Alfred Schipke is Director of the IMF – Singapore Regional Training Institute for Asia and the Pacific since September 2021. Prior to that he was Assistant Director in the IMF Asia and Pacific Department and Mission Chief for India. As IMF Senior Resident Representative for China (2013-2020) he provided policy advice, led the analytical work of the office, and coordinated the IMF’s capacity development activities in China. He was also division chief in the IMF Asia and Pacific Department coordinating the work on fast-growing low-income countries in Southeast Asia (Frontier Economies) and Mission Chief for Vietnam. Before that, he oversaw the Latin Caribbean and Eastern Caribbean Currency Union divisions in the in the IMF’s Western Hemisphere Department, where he negotiated several successful IMF programs. He has taught international finance at Harvard Kennedy School and the National School of Development at Peking University and has authored and edited several books and articles.

Gita Gopinath, First Deputy Managing Director, IMF

Ms. Gita Gopinath is the First Deputy Managing Director of the International Monetary Fund (IMF) as of January 21, 2022. In that role she oversees the work of staff, represents the Fund at multilateral forums, maintains high-level contacts with member governments and Board members, the media, and other institutions, leads the Fund’s work on surveillance and related policies, and oversees research and flagship publications.

Ms. Gopinath previously served as the Chief Economist of the Fund from 2019-22. In that role, she was the Economic Counsellor of the Fund and Director of its Research Department. She helmed thirteen releases of the World Economic Outlook, including forecasts of the impact of the Covid-19 pandemic on the global economy. She co-authored the “Pandemic Paper” on how to end the COVID-19 pandemic that set globally endorsed targets for vaccinating the world and led to the creation of the Multilateral Task Force made up of the leadership of the IMF, World Bank, WTO, and WHO to help end the pandemic and the establishment of a working group with vaccine manufacturers to identify trade barriers, supply bottlenecks, and accelerate delivery of vaccines to low- and lower-middle income countries. She also worked with other Fund departments to connect with policy makers, academics, and other stakeholders on a new analytical approach to help countries respond to international capital flows via the Integrated Policy Framework. She also helped set up a Climate Change team inside the IMF to analyze, among other things, optimal climate mitigation policies.

Prior to joining the IMF, Ms. Gopinath was the John Zwaanstra Professor of International Studies and of Economics at Harvard University’s economics department (2005-22) and before that she was an assistant professor of economics at the University of Chicago’s Booth School of Business (2001-05). Her research, which focuses on International Finance and Macroeconomics, is widely cited and has been published in many top economics journals. She has authored numerous research articles on exchange rates, trade and investment, international financial crises, monetary policy, debt, and emerging market crises.

Ms. Gopinath is an elected fellow of the American Academy of Arts and Sciences and of the Econometric Society, and a member of the Group of Thirty. She has previously served as the co-director of the International Finance and Macroeconomics program at the National Bureau of Economic Research (NBER), a member of the economic advisory panel of the Federal Reserve Bank of New York and a visiting scholar at the Federal Reserve Bank of Boston. She is the co-editor of the current Handbook of International Economics and was earlier the co-editor of the American Economic Review and managing editor of the Review of Economic Studies.

Ms. Gopinath was born in India and is a U.S. national and an overseas citizen of India. She has received numerous awards and commendations. In 2021, Financial Times named her among the ‘25 most influential women of the year’, the International Economic Association named her the Schumpeter-Haberler Distinguished Fellow, the Agricultural & Applied Economics Association recognized her with the John Kenneth Galbraith Award, and the Carnegie Corporation named her among ‘Great (American) Immigrants’. She was named among the Bloomberg ‘50 people who defined 2019’, a ‘Top Global Thinker’ by Foreign Policy, and among the ‘Women who Broke Major Barriers to Become Firsts' by Time Magazine.

Ms. Gopinath is the recipient of the Pravasi Bharatiya Samman, the highest honor conferred on overseas Indians by the Government of India, and the Distinguished Alumnus Award from the University of Washington. The IMF named her one of the ‘top 25 economists under 45’ in 2014, she was chosen as one of the ‘25 Indians to Watch’ by the Financial Times in 2012, and she was selected as a Young Global Leader by the World Economic Forum in 2011.

Ms. Gopinath received her Ph.D. in economics from Princeton University in 2001, after earning a B.A. from Lady Shri Ram College and M.A. degrees from Delhi School of Economics and the University of Washington.

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Anne-Marie Gulde-Wolf, Acting Director, Asia and Pacific Department, IMF

Ms. Anne-Marie Gulde-Wolf, a German National, is the Acting Director of the IMF’s Asia and Pacific Department (APD). She is directly overseeing the department’s work and policy priorities on South Asian countries (India, Bangladesh, Bhutan, Nepal, Maldives, and Sri Lanka) and on several East Asian countries (Cambodia, Lao PDR, Myanmar, Thailand, and Vietnam) as well as the department’s work on financial sector issues. Before joining APD in 2019, she was Deputy Director in the African and earlier in the European Department, and she previously held a Division Chief position in the Monetary and Capital Markets Department.

Ms. Gulde-Wolf studied Economics, Political Science, and History in Tuebingen, (Germany), St. Louis (USA), and Kiel (Germany) and holds a PhD in international economics from the Graduate Institute of International Studies in Geneva (Switzerland). She has published widely on different topics in international economics, with a focus on exchange rate regimes, currency boards, and financial stability and development issues.

T. Rabi Sankar, Deputy Governor, Reserve Bank of India

Mr. T. Rabi Sankar is the Deputy Governor of the Reserve Bank of India looking after Department of Payment and Settlement Systems; Information Technology; FinTech; Debt Management; External Investments and Operations; Foreign Exchange; Currency Management; and Government and Bank Accounts.

He was Executive Director of the RBI before being elevated to the post of Deputy Governor.

Mr. Rabi Sankar is a career central banker who joined the RBI in 1990 and has worked in various positions in the central bank. His areas of expertise include exchange rate management, reserves portfolio management, public debt management, monetary operations and development, regulation and surveillance of financial markets, payment systems and IT infrastructure.

Mr. Rabi Sankar has served as an IMF Consultant on developing Government bond markets and debt management. He represented RBI on international fora like Bank for International Settlements and various internal and external expert committees and working groups.

Mr. Rabi Sankar holds a Master of Philosophy degree in economics from the Jawaharlal Nehru University, New Delhi.

The RBI’s Strategy for the Financial Sector

Dong He, Deputy Director, Monetary and Capital Markets Department, IMF

Dong He is Deputy Director of the Monetary and Capital Markets Department (MCM) of the International Monetary Fund. He has led MCM’s work on digital currencies and fintech, global financial stability analysis, monetary and macroprudential policies, and technical assistance to central banks.

Dong holds a doctorate in economics from the University of Cambridge. He started his career in 1993 when he joined the World Bank through the Young Professionals Program. He was a staff member of the IMF during 1998-2004. Prior to rejoining the IMF in October 2014, he was Executive Director at the Hong Kong Monetary Authority, responsible for directing research and policy advice on issues relating to the maintenance of monetary and financial stability and the development of financial markets. He was also Director of the Hong Kong Institute for Monetary Research.

Dong has been an active member of the global central banking community and a regular participant in international meetings of central banks and regulatory agencies. He has published extensively on macroeconomic and financial market issues.

Digitalization of Money and Payments: An Overview

P. Vasudevan, Chief General Manager, Reserve Bank India

Mr. P. Vasudevan heads the payments and settlement systems function in RBI. This involves regulating, supervising, facilitating innovation and playing a catalytic role in the payments space, encompassing many bank and non-bank payment system operators. He has led and successfully implemented many large payment system projects in RBI.

A career central banker with over 28 years of experience, he also has extensive experience in the banking and non-banking supervision space and has handled technology audits of large institutions as part of this role. He represents the RBI on the CPMI, the SAARC Payments Council and the SEACEN Payments Group.

He is a cost and management accountant with Masters in Finance and certifications in information systems audit and information security management. He is also an alumnus of the Wharton School.

The Payments Landscape of India 

Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore

Mr. Sopnendu Mohanty, currently the Chief Fintech Officer at the Monetary Authority of Singapore, is responsible for creating development strategies, public infrastructure, and policies around technology-driven innovation. Mr. Mohanty has over two decades of public and private sector experience in technology, operations, digital Finance, and investment strategies.

Mr. Mohanty extensively engages with global technology and financial services ecosystems and has championed notable collaborative public goods like API Exchange (APIX), Singapore Fintech Festival, Payment Rails, Data exchange platforms, and experimental programs like UBIN. In addition, Mohanty advises many international global advisory bodies on Fintech, Innovation, and Inclusion. Within five years of his leadership, Singapore has become a leading global Fintech hub producing unicorns and home to many vibrant fintech companies.

He has co-authored several patented works in the application of digital technology in Finance and won many industry recognitions.

Dilip Asbe, Managing Director and Chief Executive Officer, National Payments Corporation of India

Mr. Dilip Asbe is Managing Director & Chief Executive Officer of National Payments Corporation of India (NPCI) since 2017. Prior to this post, he was Chief Operating Officer of NPCI. He has played a pivotal role in designing, building, operationalisation and management of large-scale innovative payments processing platforms like Immediate Payment Service (IMPS), Aadhaar enabled Payment System (AePS), India’s home-grown card network RuPay and much acclaimed Unified Payments Interface (UPI). A formidable leader to the core, he has ensured the delivery of processing over 7 billion financial transactions a month with remarkable mentoring of teams. He was awarded the ‘Changemaker of the Year’ award for the revolutionary product UPI which he spearheaded, by one of the leading business dailies. He was also awarded the ET award 2018 for ‘Policy Change Agent of the Year’ award for UPI. In September 2019, he was awarded the ‘Financial Express Award in Fintech category’ from the Hon’ble FM, Ms. Nirmala Sitharaman. In February 2020 another feather was added by CNBC TV18 at the India Business Leader of the Year Award for UPI product terming it as ‘The Disruptor’.

Mr. Dilip holds a Master of Science (MS) Degree in Global Management (Executive Programme) from the London School of Economics and Political Science (LSE), UK and Electronics Engineering from Mumbai University.

Vijay Shekhar Sharma, Founder and Chief Executive Officer, Paytm

Mr. Vijay Shekhar Sharma (born July 15, 1978) is an Indian technology entrepreneur who has played an instrumental role in revolutionizing the digital payments and financial services landscape in India as the Chairman, Managing Director and Chief Executive Officer of One97 Communications and its consumer brand Paytm. Under his guidance, Paytm is on a mission to bring half a billion Indians into the mainstream economy.

Mr. Vijay is a strong believer in the power of emerging technology and a true supporter of India’s journey to become a fully digital economy. With this vision, Paytm pioneered the digital payments revolution in India by taking the QR code to every small shop in the country and is now driving financial inclusion in India with offerings across lending, wealth, insurance and more.

He has featured in ‘2017 Time 100’, the list of ‘hundred most influential people in the world’ by Time magazine. Vijay has also been bestowed with multiple industry honours such as the ‘Entrepreneur of the Year’ award in 2018 by All India Management Association, ‘Entrepreneur of the Year’ at ET Awards for Corporate Excellence’ in 2016 and ‘GQ Man of the Year’ in 2016.

David Cowen, Director, IMF South Asia Regional Training and Technical Assistance Center

Mr. David Cowen is the Director of the IMF South Asia Regional Training and Technical Assistance Center (SARTTAC) in New Delhi, which provides customized training and technical assistance to six member countries in region. Before joining SARTTAC in September 2020, he headed IMF Capacity Development Office in Thailand (CDOT). During his career at the IMF, he has worked on surveillance, lending, and CD issues, mainly in the Asia and Pacific, African, and Statistics Departments, having served earlier as the Fund’s mission chief on Indonesia and Bangladesh and as a desk economist on India.