Financial Inclusion advocate Queen Maxima pushed the FATF to consider financial inclusion (Credit: Haags Uitburo)
Monarchs seem mostly untroubled by financial concerns, but Queen Maxima of the Netherlands has made the workings and regulations of those excluded from the formal banking sector a personal issue. Queen Maxima recently attended a plenary meeting of the Financial Action Task Force (FATF) - the first reigning Queen to be present at such a gathering, in order to raise concerns and bring change on a subject that has become a passion for her – and the World Bank Group: financial inclusion. Queen Maxima is the UN Secretary-General’s Special Advocate for Inclusive Finance for Development. In this role, she had already called on the FATF to pay more attention to financial inclusion, and how it relates to financial integrity. In June 2010, at the initiative of the then Dutch Presidency of the FATF, the then Princess Maxima pressed a reluctant FATF plenary in Amsterdam to recognize how ill-designed financial integrity requirements affect financial inclusion by keeping people outside the formal banking sector, and how this can raise the risk of money laundering and terrorist financing.