ECOFIN

TOPIC A: Banking the Unbanked

In today’s interconnected world, access to financial services is crucial for economic empowerment, growth and development. However, it is essential to recognize that financial inclusion is not a matter of economic development, but also a catalyst for achieving broader sustainable development goals. In fact, the World Bank Group recognizes financial inclusion as a key tool for breaking cycles of poverty and exclusion. However, millions of individuals face significant barriers to entry in the financial services market, hindering their economic growth and prosperity. This committee will discuss the multifaceted issue of financial inclusion, aiming to dismantle barriers and pave the way for greater access to financial services for the most vulnerable populations. With new technologies, regulations, and innovative methods of increasing access to essential services around the world, this committee will answer the question: How do we bank the unbanked?

TOPIC B: Tax Havens & Illicit Income Streams

Tax havens serve as financial sanctuaries for businesses and individuals seeking the minimize tax domestic tax obligations. Beyond these international tax evasion schemes, the darker side of tax havens emerges through illicit financial flows (IFFs), where funds are illicitly earned, transferred and utilized across international borders. The consequences of these illicit flows extend beyond just illegal activity and deprive nations of vital resources needed for investments, economic growth, and stability. Addressing these issues will task collaborative efforts, regulatory frameworks, and increased transparency to safeguard against the exploitation of tax havens and curb illicit income streams.

(Dual/Double Delegation)